The role of business in the circular economy: Markets, processes and enabling policies
The circular economy is attracting significant interest worldwide, as evidenced by the numerous government strategies, business commitments and partnerships devoted to its development. At the EU level, the Action Plan for the Circular Economy and several other policy documents have demonstrated a strong commitment to move towards a low-carbon and circular economy. While the calls for a new economic model grow louder, it is clear that the transformation of markets and industries on a large scale will not be an easy achievement. It will require well-designed and ambitious policies to foster the transition as well as new business models. Against this background, CEPS brought together executives from major multinational companies as well as representatives of business associations, non-governmental organisations and research institutes to form a Task Force charged with tackling the immense challenges associated with the circular economy. This report is the outcome of their deliberations. It analyses the key obstacles that need to be addressed, explores numerous policy areas at the EU and national level where support can act as a catalyst for market transformation, and puts forward actionable policy recommendations.