Companies embracing, and finding value in, the circular economy
Shifting to the circular economy could release $4.5 trillion in new economic potential by 2030. The circular economy – an economic model focused on designing and manufacturing products, components and materials for reuse, remanufacturing, and recycling – promises big opportunities for the private sector to drive new and better growth and accelerate innovation. Shifting to the circular economy could release $4.5 trillion in new economic potential by 2030, according to Accenture. But how do we take that vision of a circular economy – which imagines a world without waste – and translate that into profitable and scalable action? Let’s look at how companies are translating their circular economy aspirations into action – and how that in turn drives greater resource productivity improvements, eliminates waste and inefficiency, and contributes to a stronger and more competitive economy. Aramark: Reducing food waste Food services provider Aramark has set a goal of reducing food waste by 50% by 2030 from its 2015 baseline, such as by setting standards for ordering, receiving, preparing, serving and tracking food production. Through its partnership with food waste reduction experts LeanPath, Aramark is accelerating its waste prevention and minimisation efforts by integrating LeanPath’s tracking and analytics technology platform into its largest 500 accounts. Since 2016, Aramark has rolled out LeanPath’s platform across 161 sites, slashing its food waste on average by 44% and reducing the amount sent to landfill by 479 tonnes. In instances of overproduction, Aramark donates unserved food to local food relief agencies or for composting. Eileen Fisher: The path to 100% circularity Eileen Fisher take-back programme, in which employees and customers can bring back unwanted Eileen Fisher clothing for $5 store credit per piece, started in 2009 under the name Green Eileen. Funds raised from the programme are donated to organizations that support women, girls, and the […]