Most U.S. companies say they are planning to transition to a circular economy
The service is one example of a shift to a circular economy model. Rather than just mining materials and manufacturing products that ultimately end up in landfills, companies are increasingly trying to figure out how to use resources in closed loops. In a new survey of 300 executives, ING found that 62% of American companies now plan to move toward circularity. Another 16% already use circular economy principles. Nearly twice as many U.S. companies say that they are embedding sustainability in strategic decision-making in 2019 compared to 2018.
Still, most companies are in the early stages of understanding what the circular economy means and how they could work within it. When asked what’s at the core of the model, most executives say that it’s about reducing waste or making sure that products are recycled, missing the full picture of benefits–if products and materials stay in use longer, that also means less resource extraction and less risk in supply chains, and cutting climate pollution.
Most companies recognize that they can save money if they reuse scrap materials in a factory instead of throwing them out. A smaller number are thinking about the new opportunities that a circular model can bring.
Find 3 examples here: https://www.fastcompany.com/90300741/most-u-s-companies-say-they-are-planning-to-transition-to-a-circular-economy