Multinational firms sign up to $1.3 trillion circular economy initiative

Multinational firms sign up to $1.3 trillion circular economy initiative

A new global initiative to implement the circular economy has been launched in Davos, Switzerland at this year’s World Economic Forum (WEF) Annual Meeting, with signatories from over 30 international companies together worth around USD $1.3 trillion.

Factor10 is a programme set up by the World Business Council for Sustainable Development (WBCSD), a global organisation made up of over 200 transnational corporations working towards sustainability in business practice. The initiative aims to ‘reinvent the way that business produces, uses and disposes of the materials that make up global trade, by moving away from the traditional “take-make-dispose” economic model to one that is regenerative by design.’

In 2018, Factor10 will be focusing on three priority areas:

Developing transformative cross-value chain solutions that unlock circular opportunities for business;

Generating circular economy knowledge to help business understand the landscape, best practices and leading examples, and

Amplifying the business voice globally.

The full list of companies involved with the coalition includes: Accenture, Arcadis, ArcelorMittal, BASF, BCG, BMW Group, CRH, Dow, DSM, Enel, ExxonMobil, EY, Honda, IFF, KPMG, Michelin, Navigant, Novartis, Philips, PWC, Rabobank, Renault, SABIC, Saint-Gobain, Solvay, Stora Enso, Veolia, Yara and Yokogawa