The circular economy has great potential to help meet global sustainability targets, the Paris Agreement's goals in particular.
The built environment is responsible for a massive environmental footprint. It consumes almost half the world's resources extracted every year.
Moving towards a circular environment involves a shift in roles and business models for stakeholders active in this sector.
WBCSD and Circle Economy published a report highlighting the fundamental importance of the sector in the circular transition. However, barriers related to culture, regulations, the market, technology and education are slowing down the change.
The Built Environment private and public sector need to create a level playing field for circular materials, products and services to become the new normal. It requires bold leadership from both companies and policy-makers who have to transform the market (e.g. by introducing new valuation methods) and implement long-term policies encouraging the scaling of circular solutions (e.g. through circular procurement).
Standardisation, new forms of collaboration and co-creation processes are essential elements in the transition. Digital innovation, education and information sharing can further drive the change in mindset and culture that is needed to turn the circular built environment into a reality.