The circular economy is attracting significant interest worldwide, as evidenced by the numerous government strategies, business commitments and partnerships devoted to its development. At the EU level, the Action Plan for the Circular Economy and several other policy documents have demonstrated a strong commitment to move towards a low-carbon and circular economy. While the calls for a new economic model grow louder, it is clear that the transformation of markets and industries on a large scale will not be an easy achievement. It will require well-designed and ambitious policies to foster the transition as well as new business models.
This report The Role of Business in the Circular Economy: Markets, Processes and Enabling Policies analyses the key obstacles that need to be addressed in circular economy, explores numerous policy areas at the EU and national level where support can act as a catalyst for market transformation, and puts forward actionable policy recommendations.
Transforming the linear economy, which has remained the dominant model since the onset of the Industrial Revolution, into a circular one is by no means an easy task.
In recent years the circular economy has received increasing attention worldwide due to, inter alia, the recognition that security of supply of resources and environmental sustainability are crucial for the prosperity of countries and businesses.
The ‘circular economy’ is gaining momentum as a concept in both academic and policy circles, and circular business models have been linked to significant economic benefits.