Circular economy [New] The Irish government's Waste Action Plan for a Circular Economy plans to introduce a levy on disposable cups, introduce a deposit return scheme for plastic bottles and cans, and halve food waste by 2030. The European Commission suggests the development of circular economy to reduce pressure on natural resources, stop the biodiversity loss, and reach the climate-neutrality targeted by 2050. As highlighted in the European social partners work programme 2019-2021, moving towards a circular economy is a key requirement for decarbonising the European economy as well as to ensure the EU's prosperity in a world where the competition to access natural resources will become more challenging. More businesses will adopt principles of the circular economy, such as leasing, refurbishing, reusing or recycling their products, to reduce their material costs and improve their bottom lines. Ultra Capital is currently reviewing a pipeline of USD 3.3 billion in sustainable infrastructure opportunities, which includes projects that will help realize the vision of a circular economy for plastics. The Dutch government specified its national goal to develop a circular economy in the Netherlands by 2050 and to realize an objective of a 50% reduction in the use of primary raw materials by 2030. Compared with business-as-usual, the circular economy has the potential to generate savings of USD 200 billion per year, reduce greenhouse gases by 25%, and create 700,000 net additional jobs by 2040, making it a clear opportunity to build back better. Amsterdam have set a target to be a 'circular city' by 2050, with circular economy practices applied to waste and materials. The EU economic recovery proposal says that achieving emissions reduction and energy targets could add 1% to the EU's GDP and create almost 1 million new green jobs over the next decade, while investing in a circular economy could add another 700,000 jobs. The transition to a circular economy would create new markets, jobs, products and services, boost EU's GDP by 7% and generate a net economic benefit of €1.8 trillion by 2030. A recent study estimates that applying circular economy principles across the EU economy has the potential to increase EU GDP by an additional 0.5% by 2030 creating around 700000 new jobs. Amsterdam will launch the fourth stage of its circular economy initiative next week, with 200 new projects planned for the coming year. As a long-term goal, Costa Brazil has a sustainability plan with the objective of achieving a circular economy with 100% traceability and sustainability by 2025. The latest estimates for the potential from circular economy opportunities in the built environment could add GBP3 - 5bn annually to GDP by 2036. The European circular economy opportunities report projects that adopting circular economy principles could not only benefit Europe environmentally and socially but could also generate a net economic benefit of 1.8 trillion by 2030. The EU's Strategy for Plastics in a Circular Economy, which was agreed in 2018, is forcing companies operating within its borders to make half of all plastic packaging to be either reusable or cost-effectively recycled by 2025, and all plastic packaging be so by 2030. Managing population impacts on the planet will further strengthen Whole Life Value approaches and drive a move from linear to circular economy. WRAP suggests that an extensive development of the circular economy could, by 2030, create dispersed employment throughout the UK. Artificial Intelligence (AI) could create £167bn of value annually through the circular economy, while it could slash global emissions by 4%. Successful health outcomes for the populations of Europe resulting from progress towards Health 2020 will support a healthy workforce, which is required for successful development of a circular economy. The shift to a circular economy in Europe is expected to add €900 billion to its economy and create an extra three million jobs by 203014. A shift to a more Circular Economy, where resources are kept in use for as long as possible, provides an opportunity for the UK to achieve sustainable growth and prosperity. See full forecast Last updated: 27 September 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
