We believe there is a huge opportunity to reimagine business and brands for the circular economy.
The Economic Opportunity
The Ellen McCarthur Foundation estimates that the shift to a circular economy for European countries would generate +$2 trillion dollars in growth with a 47% reduction in carbon emissions in European market.
In Auckland it has been calculated to be worth $8.8 billion dollars in additional economic activity and reduce carbon emissions by 2,700 ktCO2e in 2030. (Sustainable Business Network Report 2018 Report)
Growth comes from:
1. Designing products so that they can be repaired and reused over again -each product could be sold and resold several times in its life cycle
2. Creating services that enhance the customer relationship and enables a pay per use model
3. Using waste as a resource to produce new products and renewable energy sources
New Business Models Emerge
Here are just some of the companies that are reaping the rewards of going circular: