The UK-based charity Ellen MacArthur Foundation has formulated and published a set of universal circular economy policy goals, aimed at creating a ‘common direction of travel in policy development’ to promote a faster transition to a circular economy.
These five goals, according to the Foundation, can offer solutions to key global challenges such as climate change, biodiversity loss, and pollution, while at the same time delivering economic development.
Formulated in cooperation with an extensive group of representatives from across the Foundation’s global network, the goals are as follows:
● Stimulate design for the circular economy
● Manage resources to preserve value
● Make the economics work
● Invest in innovation, infrastructure, and skills
● Collaborate for system change
The new policy goals publication from the Ellen MacArthur Foundation provides exactly what is needed by governments to take the circular economy from concept to practice, according to Steven N. Schonberger, director for Sustainable Development Europe and Central Asia Region, The World Bank.
To make the transition to a circular economy work, there is a need for greater alignment at all levels between industry and government. Universal adoption of these goals could serve as the basis to guide the transition throughout societies around the world. While this will require businesses and policymakers to work together and align with these five goals, adoption on a global scale could catalyse private sector innovation and the development of solutions that can be deployed and scaled rapidly around the world.
“The universal circular economy policy goals have been created to support that alignment, setting a clear direction that can help governments as well as the private sector build healthier economic recoveries,” said Jocelyn Blériot, Executive Lead Institutions, Governments, and Cities at the Ellen MacArthur Foundation.
For a company like Ikea, a global, collaborative approach is essential, emphasised Roberta Dessì, public affairs, Inter Ikea Group, as adopting circular business models is ‘not something we can accomplish alone.
“The universal circular economy policy goals as described by the Ellen MacArthur Foundation and its partners pave the way for our business and other businesses, governments, and NGO’s alike, to jointly address the great opportunity circularity presents. This is one of the key steps in finding a common starting point and alignment in advancing this exciting agenda.”
Contributing their thoughts and best practice on how to align on using the circular economy as a solution, the World Bank and Inter IKEA Group, will be panellists during the paper’s online launch, via The Circular Economy Show, 15:00 GMT, 2nd February.