Circular Economy

The Circular Economy and Sustainability Strategies

TEXT: LAURENCE IVARSEN

The over-exploitation of natural resources required to achieve economic growth and development has had a negative impact on the environment while also causing these resources to become scarcer and costlier. So, it’s easy to see why the idea of a circular economy that offers new ways to create a more sustainable economic growth model is taking place across the globe.

• 90% of raw materials used in manufacturing in Europe become waste before the product leaves the factory. • 80% of products made in Europe get thrown away in the first six months of their existence. • $ 700 million is the annual material cost savings in the fast-moving consumer goods industry with the implementation of a new circular economy.

WE’RE GETTING RID OF PLASTIC AT DNV

According to the World Economic Forum, if no action is taken, there will be more plastic waste than fish in the oceans by 2050. Among the five options of managing plastic waste: reduce, reuse, recycle, recovery and landfill, the most favored option is to reduce consumption as far as possible. Andreas Fischer, Director of Global Real Estate Management and Procurement will lead the implementation of the project. The first steps are:

• To replace single-use plastic cutlery in kitchens, coffee shops, and kiosks with reusable/environment friendly ones • To replace single-use plastic bottle water/drinks for meetings and seminars with reusable ones • To replace single-use plastic cups at office areas with sustainable ones

You can read more about this on our intranet.

Here is some reflection point that we will use in an upcoming membership meeting

• Resource efficiency in the postpandemic era • The circular economy challenges – and opportunities – posed by Covid-19 • Re-thinking business models to achieve zero waste • The key ingredients for a winning circular economy strategy • Real-life examples of business model transformation to eliminate waste • Overcoming key challenges on your single-use plastics journey • Harnessing innovation to switch to alternative materials • Engaging employees to create a

‘plastic-free’ culture

We support the plastic reduction project, and it will not be successful without our participation and commitment. •