With commodity prices almost tripling in the last 10 years, businesses and governments are now recognizing this as an OPPORTUNITY: - to manage input cost volatility, as this approach decouples economic growth from finite supplies of primary resources. Manufacturing industries, in particular, could see their costs reduce significantly by adopting a circular business model. For example, material costs of smartphones could be reduced by more than 60% by entirely rethinking the way they are made and disposed. The report also shows the benefits of innovative business models such as Airbnb and Zip Car, and suggests improvements for profitability throughout the supply chain. “The circular economy is an opportunity industry can’t afford to miss,” said Sir Ian Cheshire, Group Chief Executive of Kingfisher. “It can drive our next generation of innovation and business growth, cushion our business from price volatility, provide us with competitive advantage, and help us build better relationships with customers and suppliers.” “Building on growing momentum around the circular economy, Project Mainstream will leverage the convening power of the World Economic Forum and bring together a group of business leaders capable of triggering widespread innovation and employment. It is about going beyond concept stage, its about turning proven potential into an economic reality,” said Ellen MacArthur, Founder of the Ellen MacArthur Foundation. www3.weforum.org/docs/WEF_YGL_CircularEconomyInnovation_PositionPaper_2013.pdf
Posted on: Mon, 31 Mar 2014 05:28:28 +0000
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