Businesses urged to grasp £7bn opportunity during Circular Economy Week

Business leaders have been urged to drive sustainability over the next five days in support of London’s Circular Economy Week, grasping both environmental and financial benefits.

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The organisers said a circular economy could provide London with a £7bn boost every year by 2036, and also create 40,000 new jobs in manufacturing, re-use and materials innovation.

In response, this week will see businesses take part in collaboration opportunities to explore approaches to resource management, product design, manufacturing and retail.

A round table discussion hosted by the London Waste and Recycling Board (LWARB) and Ellen MacArthur Foundation has been confirmed, along with various other events, workshops and tours.

“Circular Economy Week is the perfect forum to collaborate, celebrate progress, and share learning among organisations of all shapes and sizes,” said Wayne Hubbard, chief executive at the LWARB, which organised the week of action.

“Not only does the circular economy benefit the environment, it also offers real commercial advantages by allowing organisations to respond to consumer demand for more sustainable products and services. 

“The circular economy can also create efficiencies as well as new revenue streams, markets and product lines – all increasingly important in this time of economic uncertainty.”

The LWARB said transitioning to a circular economy could cut London’s waste by 60%, with the built environment, food, textiles, electrical and plastic sectors all benefitting.

Other events to take place this week include a clothes ‘swap shop’ and film screening from sustainable fashion campaign #LoveNotLandfill, and a business webinar on how to make offices more sustainable.

There will also be a tour of circular businesses along the Circle Line, run by Circle Economy Club London, along with events on stainable packaging and plastic alternatives.

London’s deputy mayor for environment and energy, Shirley Rodrigues, said: “Circular Economy Week will help raise the profile of this important issue and encourage people across London to support the transition to a circular economy.”

London’s Circular Economy Week will run from 10-14 June. More information can be found here. 

 

Image credit | iStock
Author: 

Chris Seekings is a reporter for TRANSFORM

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