Sustainable Industry and Circular Economy
For a sustainable industry, companies, which conduct productive operations, should make sustainability a strategy, and they should extend this strategy to all their production and consumption processes. As BCSD Turkey, we build this approach on circular economy and sustainable consumption.
Circular economy is a new way of looking at the relations between markets, customers and natural resources. Its purpose is to change the existing economic model, which is based on the approach of “take, make, and dispose”, and it utilizes the power of innovative business models and technology. Circular economy is seen as one of the greatest opportunities for the transformation of production and consumption since the Industrial Revolution. It does not only accelerate the momentum for a sustainable future, by offering an opportunity of 4.5 trillion dollars, but it also has a huge potential for global economic development. Within the framework of this approach, the flexibility of the global economy is enhanced owing to innovation, and people and societies are supported worldwide. Most importantly, owing to the approach of circular economy, a crucial step is taken towards achieving global shared objectives, such as Sustainable Development Goals and Paris Agreement. As for the business world in particular, while successful circular business models decrease the dependence on natural resources, they create value for companies as well . This model strengthens the competitiveness of companies, and it decreases the risks for them, by reducing their costs and increasing their efficiency.
This model also covers sustainable consumption, and thus, it offers a wide range of opportunities for businesses. With this approach, businesses can reshape the consumption habits of their employees and the production models of their supply chain. For the activities carried out in this focus area, please click here.