What is the circular economy? The circular economy definition focuses on eliminating waste and the unnecessary use of resources. The goal is to use as few resources as possible by keeping materials in circulation and getting the greatest value from them. Topics like global warming, the Paris Agreement, free trade dominate the business news cycle and occupy our thoughts. However, there appears to be a more important and disturbing question lingering in the background, one that is not QUITE URGENT enough to be on center stage, BUT may be of greater importance to the long-term sustainability of world economies … the complete depletion of vital and non-renewable natural resources.
The circular economy is designed to benefit businesses, society and the environment. For the hazardous waste industry, however, the circular economy offers a unique opportunity to help prevent the depletion of vital and non-renewable natural resources. What is the circular economy? The circular economy focuses on eliminating waste and the unnecessary use of resources. The goal is to use as few resources as possible by keeping materials in circulation and getting the greatest value from them. For manufacturers that generate solvent waste, incorporating circular economy practices into the disposal of spent solvents can have a significant impact.
ING has acted as joint sustainability coordinator together with Santander in the largest sustainability-linked revolving credit facility (RCF) ever issued. The $10.1 billion RCF for Belgian-based multinational drinks and brewing company Anheuser-Busch InBev (AB InBev) is provided by a consortium of 26 leading global financial institutions. In addition to being the largest sustainability-linked loan (SLL) ever, it is also the first for a publicly listed company in the alcohol and beverage sector. The milestone facility has a five-year term and includes a pricing mechanism that incentivises improvement in four key performance areas that are aligned with AB InBev’s sustainability goals:
The beauty maker is among the Foundation’s 10 newest Network members, businesses and institutions tasked with leading the change to a circular economy. “Mary Kay and the other new members of the Ellen MacArthur Foundation Network share an ambition to transform the way they do business.” That, according to Joe Murphy, Ellen MacArthur Foundation Network Lead, who shared comments with the press. “We look forward to supporting them, and facilitating collaboration opportunities with other Network organizations, as they strive to become more circular,” he says. Circularity is the next phase of environmental sustainability and the Ellen MacArthur Foundation was founded in 2009 to help businesses, policy makers, and academics become leaders in this new economic model. And beauty suppliers and manufacturers have been taking steps toward a circular economy with (and without) the help of the Foundation for some time.
As the G7 Summit wraps up—with the achievement of a decarbonized electric sector and the emphasis toward solar, wind and renewable energy agreed-upon goals—the vision of a green future is gaining momentum. Beyond the political arena, the movement toward net zero can also be seen in the C-suite, as business leaders understand the importance of taking action to curb climate change. A recent Gartner CEO survey, for instance, shows that about half of CEOs see climate change as having a major impact on their business. According to Gartner analyst Tiny Haynes, there are many factors that can help IT leaders achieve a sustainable future. “The idea of simply using renewable energy is not sustainable in its entirety,” he said.
As the world accelerates its transition to a low-carbon, circular economy, Canadian companies developing resource recovery models need to consider how to integrate IP protection into their overall strategic plan to succeed in this increasingly competitive global market. C-level executives must consider the strategic business role of IP and understand how to build an effective IP strategy in the context of the infrastructure they are operating in and appropriate to the technological solutions they offer. Companies focused on resource recovery also face a long trajectory to commercialization, which demands a forward-looking IP strategy.