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Market-based tools such as forest certification are a great way to leverage natural climate solutions while strengthening a business model that values forests. The City of Seattle sponsored this years national convening, which was held from June 5 to 7. How one Argentinian city overhauled its waste management to tackle one of the world's largest rubbish dumps, This Indian Start-Up Turns Rice Waste Into Biodegradable Packing Foam, How youth are driving the circular economy transition across the world, Bontu Yousuf, Sophia Simmons, Olya Van Houten and Salma Melissa Mohammadiyan, Recycling increased by 152% at these London flats - here's how, Meet the 16 innovators that are leading the charge on circular transformation, Wesley Spindler, Tara Baumgarten and Emilie Dam, The enormous opportunity of e-waste recycling, is affecting economies, industries and global issues, with our crowdsourced digital platform to deliver impact at scale. Gov. It is not a new topic, it is not a distraction from reaching the Paris climate goals. The document explores the nexus between circular economy and climate change and offers insights on how circular approaches can strengthen climate action. d) Identify research needs and possible global governance improvements that could help governments and stakeholders to address such barriers and bottlenecks, including concerning specific resources. The Nature Conservancy is a nonprofit, tax-exempt charitable organization (tax identification number 53-0242652) under Section 501(c)(3) of the U.S. Internal Revenue Code. In the Q&A below, Goldmark tells us more about circularity and what she hopes the event will achieve. . EPA's circular economy for all aims to reduce waste and toxic materials and reuse critical minerals during manufacture and processing. Climate change adaptation can also be circular. Get the latest news and updates from the Climate Promise team at the start of every month. We need to change the way we think about climate change in order to reduce greenhouse gas emissions (GHGs) and meet the targets set out in the Paris Agreement. Achieving net zero In the midst of the fight against COVID-19, humankind has begun to pay closer attention to the Earth and its systems. Several challenges exist. What is EPA doing to promote acircular economy? The directors recognised the value of collaboration between the MDBs on the circular economy, and agreed that their institutions should continue to work together, including via the Circularity Exchange Network (CEN) - a group initiated by Circle Economy and the Dutch Ministry of Infrastructure & Water Management that also consists of the Ellen MacArthur Foundation, UNEP-FI and the World Economic Forum. A better understanding of the benefits and impacts of circular economy measures, particularly for climate and biodiversity, is needed. Even as the global pandemic endures, International Paper will continue to advance natural climate solutions by leading on forest stewardship and circularity. The United Nations International Resource Panel concluded that natural resource extraction and processing contribute to about half of all global greenhouse gas emissions. The objective of ITU-T SG5 is to develop international standards that help to improve the safety and environmental efficiency of ICTs, support the transition to circular economy, and support the ICT sector to reach net-zero emissions. Circular economics pursue a similar objective by favoring economic development, restorative and regenerative by design, decoupling growth from finite resource consumption, eventually. Circularity means shifting from what we call a linear system to a circular one. It all starts with design IKEA and DS Smith at the Circular Economy Cafe. In the fiber-based packaging and paper industry, every part of its value chainfrom the use of renewable raw materials in the design of reusable, recyclable and compostable products to the manufacturing process itselfis naturally circular. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Title VI Notice of Nondiscrimination By producing higher quality garments, clothing can also last longer, be repaired, thrifted, and recycled. She prescribes a series of fundamental changes to the way society approaches stuff, advocating a shift to a circular economy. A Step Toward Making Your Company More Sustainable And if we also include circular approaches within the food system, we could achieve as much as 49 percent reductions in global GHG emissions overall. Thats why, as part of its Vision 2030 Goals, International Paper has committed to renewable solutions that accelerate the transition to a lower-carbon economy through innovative fiber-based products. We are already in 'ecological overshoot', using more than the available amount of Earth's natural resources to . The island nation of Vanuatu is more circular than any other country whose circularity has been estimated. World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use. Circularity: A Powerful Tool for Fighting Climate Change With International Papers support, TNC led the way in analyzing and implementing forestry practices that improve both carbon storage and biodiversity protection. What is circular economy? This component is driven by bioacousticsthe latest technological innovation in holistic and cost-effective biodiversity monitoring. Governments, world over, reacted to the pandemic with short-term (rescue) and medium to long term (recovery) measures. Did you mean to type The views expressed in this article are those of the author alone and not the World Economic Forum. Despite the urgent need to shift to a circular economy, material extraction is rising every year, with circularity declining from 9.1 percent in 2018 to 7.2 percent in 2023. For a truly circular economy, we, as a collective, need to not only look ahead to new innovative approaches or technologies, but also look back to see what has already worked, and continues to work. That frustration leads them to ask, how are we going to reduce greenhouse gasses and stave off the very worst consequences of global warming? This step ensures that the circular offering contributes to solving environmental problems, therefore reducing the amount of resources and slowing down the flow of . Studies show that, to return to safe limits of consumption, we need to reduce global material extraction and consumption by a third. SPU was among the key event partners. Statement by Vivianne Heijnen, Minister for the Environment, at the Schwab Foundation for Social Entrepreneurship, Centre for the Fourth Industrial Revolution, From Ambition to Action: Japan Circular Economy Roundtable Opening Plenary, 5 reasons to shift from a throw-it-away consumption model to a circular economy, Circular strategies that could cut global emissions and tackle climate goals, SDG 12: Responsible Consumption and Production. Research conducted by The Nature Conservancy (TNC) and other institutions estimates these approaches could deliver around a third of the emission reductions needed by 2030. Businesses, particularly small and medium-sized enterprises (SMEs), as well as other organizations and actors, often struggle to access adequate finance to transition from linear to circular business models or systems. Estimates show that we are already using more than the available amount of Earths natural resources. Resource extraction has tripled since 1970 and it is projected to grow by another 70% by 2050, with the impacts of climate change, biodiversity loss and pollution being felt all around the world. Charitable Solicitation Disclosures This is available to us right now, today from how we design products to what we choose to buy and whether we compost. With plans to cut emissions 60% by 2030, become carbon neutral by 2050, Lao PDR is showing climate leadership. As cities continue to respond to the many challenges imposed by climate change, this complex coupling between mitigation and adaptation is likely to increase. About 45 percent of global greenhouse gas emissions can be addressed through the circular economy, says Ellen McArthur Foundation. Privacy Statement Please upgrade to continue. In this 2017 paper in Nature Climate Change, scholars at Imperial College London tally up the total amount of CO2 that needs to be reduced by 2050 (relative to a business-as-usual scenario) to . GACERE members include the following countries and the European Union: The following countries are observers to the Alliance: Mexico, and Singapore. e) Take forward and support sectoral, bilateral and/or regional partnerships for the circular economy transition to disseminate best practices while making sure not duplicating efforts. As of May 2023, only 27 percent of NDCs include circular economy, so there is ample room for action. GACERE is an initiative of the European Commission on behalf of theEuropean Unionand theUnited Nations Environment Programme, in coordination with the United Nations Industrial Development Organization. Nowhere has this opportunity been more clear than in the fiber-based packaging, pulp and paper industry, where International Paper works to make its entire value chain circular. To review your email preferences, please visit nature.org/emailpreferences. PO Box 34018, Seattle, WA, 98124-5177 This means that we are using more virgin materials and becoming more wasteful. Like the rest of Europe, Sweden was plagued by cloudbursts in the summer of 2021. For example, green spaces in Stockholm. A rapid shift to a . In a circular economy, things are made and consumed in a way that minimizes our use of the world's resources, cuts waste and reduces carbon emissions. Jay Inslee, Mayor Bruce Harrell, and SPU General Manager and CEO Andrew Lee spoke at the convening, the largest event of its kind in the nation for circular economy and zero waste professionals. There is enormous potential in decarbonizing with natural climate solutions, which are based on the conservation, restoration and improved management of forests, grasslands and wetlands. Get the latest updates and invitations to your inbox with SEIs global newsletter. This new work entails bringing the best RIL-C science to new frontiers in Mexico and the Central Appalachian region of the United States. not geological timescales. Climate change further exacerbates these challenges. Get text updates from The Nature Conservancy: Forests as a Climate Solution? Reducing greenhouse emissions are no longer enough to halt climate change impacts and there is a pressing need to adapt cities to a warming climate. The goal of the event for me is to raise awareness about the power of this tool, circularity. Climate Change And The Circular Economy - Forbes The circular economy (CE) is a proposal for a new, more sustainable, and durable economy model. Nature-based solutions can be circular if they use renewable resources, reuse or repurpose other resource streams and avoid unwanted by-products. Andrew Lee, General Manager and CEO To keep . Pollution has a pervasive impact on people and society, on biodiversity loss and on climate change. Receive updates of the EIB Groups activities in Europe and around the world. Its a really powerful tool and I think people dont always realize that its there and available to us. GACERE was launched in February 2021, in the margins of the first segment of fifth United Nations Environment Assembly (UNEA-5.1). Intermediated loans for SMEs, mid-caps and other priorities, Investments in infrastructure and environmental funds, Guarantees in support of SMEs, mid-caps and other objectives, Shared management funds and financial instruments, Sub-Saharan Africa, the Caribbean and the Pacific, The EIB in the Americas and the Caribbean, Economic conferences and research networks, Netherlands: EIB and BNG Bank renew collaboration to extend 600 million in new financing, Settlement agreement reached between EIB and Egis International, EIB Institute Social Innovation Tournament: Meet Europes 15 best social entrepreneurs, International Day against Homophobia, Transphobia and Biphobia (IDAHOT 2023), EIB at the WCEF2023: Scaling up financing for the circular economy and building strong partnerships, The EIB is stepping up its financing and advisory support for the Circular Economy, President Hoyer: The linear approach does not work any longer, Transparency, accountability and access to information. Aligned with the global priorities of the United Nations Sustainable Development Goals, International Papers goals accelerate the progress toward achieving the companys visionwhile driving sustainable outcomes for people, communities, the environment and its customers. If current trends were to continue, we would need three planets by 2050. Circularity is a solution one of many needed to address climate change and its one that works at every scale. A notable example isnature-based solutionsthatentail, multifunctional areas in cities. There is a link between the circular economy and climate mitigation and transitioning to a circular economy can arguably mitigate carbon dioxide . Atthemore local level,the Hammarby Sjstad area in Stockholm is one example that has managed to reduce greenhouse gas emissions Global sites represent either regional branches of The Nature Conservancy or local affiliates of The Nature Conservancy that are separate entities. Terms of Use What is circular economy and why does it matter? | Climate Promise The World Resources Institute has estimated that doubling the global circularity level by 2030 can reduce greenhouse gas emissions by about 20%. Examples include beverage cups at concert venues that can be washed, sanitized, and reused hundreds of times, and reusable coffee tumblers at cafes. Sustainability from its foundation requires social equity. The UCAFproject aims to provide an adaptable city-level circularity assessment framework toassist cities in transitioning to a circular economy. For example, under UNDPs Climate Promise, The Gambia, Lao PDR, South Sudan, Uganda and Vanuatu conducted detailed circular economy assessments as part of their NDC revision process to identify and prioritize circular economy interventions for enhancing their climate ambition. Please enable JavaScript to continue. The new model of circular economy is meant to allow the planet to breathe, while leaving no one behind. Ellen MacArthur Foundation ANBI RSIN nummer: 8257 45 925. GACERE works in close collaboration with the regional circular economy networks, including the African Circular Economy Alliance and the Circular Economy Coalition for Latin America and the Caribbean. Email: SPUCustomerService@seattle.gov. In the context of cities, urban planning offers great opportunities for both circularity and adaptation. Image:REUTERS/Kim Kyung-Hoon. By the same year, an estimated 13 percent of the food destined for human consumption was lost after harvesting and another 17 percent was wasted at the household, food service and retail levels. When we cant use them anymore, we break them down into component parts and re-manufacture or remake them into new objects. .chakra .wef-facbof{display:inline;}@media screen and (min-width:56.5rem){.chakra .wef-facbof{display:block;}}You can unsubscribe at any time using the link in our emails. People see extreme weather events unfolding, far and near, as people grow increasingly frustrated with the lack of action. Circular Economy and Green Recovery, 2021. Instead of sending products on a linear journey between a factory and a landfill, a circular economy focuses on repairing, refurbishing, reusing, and upcycling in order to get the most out of every product. Circular Economy principles have emerged as a response to the current unsustainable linear model of "take, make, consume, and waste." Yet so far, the water sector has not been systematically included in high-level circular economy strategy discussions. Image:Unsplash/Josh Power. by aiming to close its energy loop through various strategies, such as generating electricity from household waste and transforming water treatment sludge to biogas. Check out our latest thinking and real-world solutions to some of the most complex challenges facing people and the planet today. The African Development Bank (AfDB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank (IDB), IDB Invest, and the World Bank acknowledged the importance of the circular economy transition in combating the triple planetary crisis of climate change, biodiversity loss and pollution, and emphasised the key role the financial sector has in supporting countries transition to a circular economy. Our Best Climate Solution is Circular. Organisation for Economic Co-operation and Development. EPA is developing action plans and strategies for electronics and food loss and waste and organics. Meanwhile, by transitioning to a circular economy, countries like Jordan are creating opportunities for women, allowing them to find employment, learn new skills, open their own businesses and take leadership positions in their community. Our collaboration initially focused on implementing these practices in priority tropical forest regions in Indonesia and Gabon. RIL-C best practices are expected to deliver over three-quarters of Gabons climate commitments to the Paris Agreement. That means that if we want to significantly reduce emissions, we have to look at hot spots of unsustainable consumption and production in high-impact sectors such as industry, buildings and construction, and agriculture. Goldmark described her approach in detail in her 2020 book, Fixation: How to Have Stuff without Breaking the Planet. Despite these efforts, the coupling between mitigation and adaptation continues to exist. In the context of cities, urban planning offers great opportunities for both circularity and adaptation.

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