Today, more and more companies are interested in circular innovation. Companies realize that no producer can be successful on a failed planet. In addition, however, companies also think quite pragmatically and ask: “How much will global change affect my production and target markets? Will I still have somebody to sell to? How will carbon taxation affect my production? ”
Businesses are realizing that the behaviour of consumers are changing. In some cases they no longer have a need to own the products, but only need to rent/use them. Due to the loss of primary raw materials, companies also perceive a growing need for material self-sufficiency and are therefore starting to use recycled materials.
What are the benefits for companies?
Businesses are realizing that the behaviour of consumers are changing. In some cases they no longer have a need to own the products, but only need to rent/use them. Due to the loss of primary raw materials, companies also perceive a growing need for material self-sufficiency and are therefore starting to use recycled materials.
What are the benefits for companies?
- The transition to a circular economy does not require higher investment
- Reduction of waste disposal costs.
- Possibility to sell some types of waste as a raw material.
- Companies that are able to incorporate their waste back into production are becoming more independent of suppliers.
- Gaining a competitive advantage over the competition
- and many others...
So your business can even profit from going circular in some instances. If you can convince your customers that they are saving the planet, or the social conditions of the workers or suppliers, that value can be added to the price of the product. You will also be able to tap into new customer segments by providing a circular product or experience.
Benefits for all
1. McKinsey & Company has calculated that adopting the principles of the circular economy could generate annual savings of 1.8 trillion in Europe from 2030. EUR and revenues of EUR 600 billion per year.
2. According to the European Commission, the circular economy should bring 2 million new jobs.
3. 80% of greenhouse gases come from the supply chain, which is partially eliminated by the circular economy.
4. There is no doubt about the benefits of recycling: producing one tonne of recycled plastic will save 5 barrels of oil and the equivalent of 1.6 tonnes of CO2.
5. According to the CSR & Reputation Research 2016 survey, 68% of people in the Czech Republic are willing to pay extra for an environmentally friendly product.
6. Thanks to carsharing, smart materials, autonomous driving and electric mobility, the price per kilometer could be reduced by up to 75% by 2030. In agriculture, new technologies could increase the efficiency of fertilizer and water use by up to 30%.
7. The Czech Republic is already meeting the target for the take-back of PET bottles, set for 7725 at 77%. According to EKO-KOM data, in 2018 81% of PET bottles that were placed on the market were sorted in the Czech Republic in 2018.
