Renewable energy is not enough. There needs to be a fundamental shift in the global approach to tackling climate change and the circular economy can play an essential role.

Completing the Picture: How the Circular Economy Tackles Climate Change, a paper published by the Ellen MacArthur Foundation, tells us:

• Greenhouse gas emissions are not dropping quickly enough to achieve climate targets and switching to renewable energy can only cut them by 55%
• The remaining 45% of emissions come from how we make and use products, and how we produce food

Whilst the circular economy is underpinned by renewable energy, the paper concentrates on five key areas (cement, plastics, steel, aluminium, and food) to illustrate how designing out waste, keeping materials in use, and regenerating farmland can reduce these emissions.

The Elephant in the Boardroom: Why Unchecked Consumption is Not an Option in Tomorrow’s Markets is a working paper from the World Resources Institute that can guide discussion within companies about an uncomfortable truth: many of today’s business models are not fit for tomorrow’s resource-strained world.

Normalizing the conversation will set the groundwork for the pursuit of new business models that allow growth within the planet’s limits and generate stakeholder value in new and exciting ways.

The New Plastics Economy Global Commitment unites businesses, governments, and other organisations behind a common vision and targets to address plastic waste and pollution at its source. It is led by the Ellen MacArthur Foundation in collaboration with the UN Environment Program. Launched in October 2018, the Global Commitment already unites more than 400 organisations in its common vision of a circular economy for plastics, keeping plastics in the economy and out of the ocean. Signatories include:

• close to 200 businesses that are part of the plastic packaging value chain, jointly representing over 20 % of all plastic packaging used globally, including many of the world’s leading consumer packaged goods companies, retailers, and plastic packaging producers
• 16 governments across five continents and across national, regional, and city level
• 26 financial institutions with a combined USD 4.2 trillion worth of assets under management and 6 investors in total committing to invest about USD 275 million
• leading institutions such as WWF, the World Economic Forum, the Consumer Goods Forum, and IUCN
• more than 50 academics, universities, and other educational or research organisations including MIT Environmental Solutions Initiative, Michigan State University, and University College London.

All 400+ organisations have endorsed one common vision of a circular economy for plastics, in which plastics never become waste. As this June 2019 report shows, the number of business signatories has grown from over 100 to nearly 200 in the seven months since the launch.

The Boston Consulting Group (BCG) has released a report on tackling plastic waste using circular solutions, with a focus on the opportunities chemical recycling provides. After highlighting the scale of the issue, the report presents different ways of solving the plastic waste issue by comparing the impacts of different waste treatment options and technologies, such as pyrolysis. The report concludes that:

“To tackle the colossal societal and environmental issue of plastic waste, we need proportionally meaningful efforts from the private and public sectors as well as society at large that encompass behaviors and habits. The ultimate solutions will involve a combination of judicious consumption and disposal measures as well as the development of cost-competitive and environmentally friendly alternatives. Most observers would agree, however, that these changes are years away. In the meantime—over the next decade or two—we can implement circular solutions to reuse or repurpose plastic waste in the most efficient way.” (Boston Consulting Group, 2018, p. 24).

ECESP Coordination Group members contributed to this report, including Circular Change and Circle Economy.