Can the Circular Economy Transition Fast Enough?

Recent survey by DNV and World Business Council for Sustainable Development (WBCSD) reveals that circular economy is rising on corporate agendas across geographies. Despite the growing attention in the public, among legislators and companies, the shift to business models that design waste out of the system seems to progress slowly. 

“So far, growing stakeholder and regulatory pressures such as the EU Circular Economy Action Plan adopted in March 2020 do not seem to have impacted the transition speed significantly,” says Luca Crisciotti, CEO in supply chain & product assurance in DNV. “With only 5.9% of the companies indicating a leading approach coupled with the limited uptake of business model innovation, there is much left to be done before we reach a state of true circular economy required to shift from a linear take-make-waste industrial model to significantly impact our UN Sustainable Development Goals.”