Switching to a circular economy could reduce greenhouse gas emissions by 39% and ease pressure on virgin materials by 28%, according to the Circularity Gap Report, published on Tuesday (26 January).
If those principles were applied, 22.8 billion tonnes of carbon emissions could be saved and help avoid climate breakdown, according to the study by Circle Economy.
But the report also contained bad news. Only 8.6% of the world’s economy can be considered circular, down from 9.1% two years earlier.
“The circularity gap is widening, and with it, the climate and biodiversity impacts of our extractive economies,” said Gino van Begin, secretary general of ICLEI, a global network of over 1,750 governments committed to sustainable development.
Lawmakers in the European Parliament's environment committee will call for legally-binding targets to reduce raw material use in a report due to be voted on this week.