Today, Newsweek Vantage released a new study, Going Circular: How global business is embracing the circular economy. Sponsored by UL, Autodesk, BASF and C&A Foundation, this report explores how large, global companies view and are undertaking the transition to a circular economy. Developed based on feedback from 317 senior executives, the report explores the drivers behind the circularity movement, the benefits of pursuing circularity and compelling case studies on business models that companies are using to achieve it.
With a full 98 percent of companies indicating they were familiar with the concept, circularity has come of age. About a third of respondents (30%) said they already have a circularity strategy in place.
The circular economy’s central aim is to extend the life of all goods and materials being bought, sold, used and discarded daily, throughout our societies, in order to curb extraction, pollution, and waste. This requires a completely new approach to product design and delivery and often triggers business model overhaul. Lack of know-how, insufficient technology, and conflicting objectives were some of the main obstacles to achieving circularity according to respondents.
Over the coming weeks, we’ll explore some of the themes unearthed in the study. We’ll also grapple with the biggest challenge to the pursuit of circularity: knowing where to start. A quickly-evolving concept, circularity is emerging along with methods for effective measurement, best practices and lessons learned. We’ll explore the path forward, some successes, and ideas to help you take the initial steps on the path toward circularity.
Get started on your journey now by downloading the full report.