One of the most powerful concepts being used to drive business sustainability is that of the ‘circular economy’. This week the U.S. Chamber of Commerce Foundation’s Corporate Citizenship Center, in partnership with The Sustainability Consortium and the Retail Industry Leaders Association, launched a business ‘toolbox’ on the circular economy.
The toolbox is an online platform that aims to help companies incorporate more sustainable business practices that eliminate waste and increase efficiency using a circular economy approach and analysis.
The Toolbox features examples of projects that highlight how companies have successfully implemented circular business practices. It also provides information for businesses, including:
- An overview of the circular economy;
- Background on the differences between circularity and sustainability;
- A glossary of terms and keywords; and
- A list of circular economy resources.
Euan Murray, chief executive of The Sustainability Consortium, said: “The circular economy concept is important because it gives us a way of looking at product supply chains as holistic systems rather than as separate, individual activities. Using this tool, we can now expand the scope of sustainability right across the supply chain, rather than getting products to market first and tackling the sustainability issues after.”
The Sustainability Consortium is a global organization dedicated to improving the sustainability of consumer products. It aims to work collaboratively to build science-based decision tools and solutions that address sustainability issues that are materially important throughout a product’s supply chain and lifecycle.
The Retail Industry Leaders Association is the trade association of the world’s largest retail companies. This includes more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales.
More information on the Toolbox can be found here: https://www.uschamberfoundation.org/circular-economy-toolbox.