In a finite world, striking a balance between the use of resources and ensuring that basic social standards are met is the crux of development. In business, the same applies: how do we navigate the murky waters of growth without depleting everything else? The global economy, with its fair share of challenges, is ripe for circularity but with little to show for to date as highlighted by the latest Circularity Gap Report [1]. Circularity offers many opportunities for businesses both in processes and development with a basic approach that includes: using less, using longer, using cleaner and using again. The final frontier of circular economy would be to design products which components can be reused indefinitely without loss of quality, or being disposed without any damage for the natural environment.
Close Authorship
Despite how turbulent 2020 turned out to be, circular pioneers did not waver in their ambitions. Inter IKEA Group completed over 9,500 circular assessments of their products and used 98 percent sustainably sourced wood. Microsoft (automatic PDF download) found that its Surface products and packaging performed between 22 to 25 percent according to the WBCSD’s Circular Transition Indicators (CTI).
The interest in, engagement with and implementation of circular metrics in business is quickly gaining speed, as calls for transparency and data-driven action increase in response to climate change, biodiversity loss and other environmental pressures.
This growing demand is being met by the expansion in circular measurement resources that took place in 2020. In addition to the CTI, the Circulytics and GRI 306: Waste 2020 standards joined circular metrics initiatives such as the Circularity Gap Reporting Initiative and Cradle to Cradle Certified. Recognizing this growing