15 Mar Your business; how Blue Planet II is driving the Circular Economy – your briefing
The circular economy is a movement that has been around since the 1960s, yet it is only now that we are finally seeing it emerge into the mainstream due to Blue Planet ll. Sir David Attenborough brought the issue of plastic waste and harm to our environments directly into our homes and in doing so emphasised that our throwaway behaviour is unsustainable for our planet. The Circular Economy (CE) aims to extract maximum value from resources whilst in use, and then reuse these materials at the end of each service life. So, what do you need to know?
6 key factors driving the change and how they will impact your business:
- The European Community plans to develop a circular economy and earlier this year published http://ec.europa.eu/environment/circular-economy/ on its ambitions to make all plastic packaging recyclable by 2032. We might be leaving the EC but the Gov has already agreed we will follow the EC environmental laws post-Brexit.
- Blue Planet ll struck a chord with the public and brought the subject of plastic waste into the mainstream media. An emotive public reaction provoked a rapid response from the Government making far-reaching plastic recycling commitments. As a result, retailers in particular have taken a stance, with Iceland Foods at the vanguard announcing ambitious plans to remove all plastic packaging.
- Government has taken a particularly keen interest. As Martin Kersh of the Foodservice Packaging Association spelt out at the Packaging and Innovations show in March, (watch debate) for the first time in his career, both DEFRA and the Treasury are in talks with him to understand the impacts of changes the Gov is preparing to make. He’s advising them on setting targets and measures to alter the way we use plastic packaging. And the reason for this interest by Government – it’s all about younger voters and to be seen to move in line with public thinking.
- The public are looking for higher ethical standards from Government, public infrastructure, and business. Look at the issues that fill our news today: #metoo, Gender pay gap, big business dominance – all these issues have the common theme of the public demanding greater transparency. How businesses measure up in the circular economy will be the next imperative.
- The Circular Economy is applicable to all business. Transparent reporting means consumers can compare the efforts of organisations and make a judgement on the ethics of each. Already big players like Unilever, Coca Cola, Renault and John Lewis subscribe to the commitments of CE. For many businesses, plastic waste reduction will be the catalyst and first step along the journey down the CE road.
- Shareholders expect to see CE on their Executive teams agendas. Business need to spend time on developing a strategy to cope with the upheaval to processes and governance. We predict a step change this year. Organisations on the front foot are conducting a refresh of their CSR, Risk and brand values against a new backdrop to see what stands out.
Our research shows that there are many factors driving the CE with the fallout from Blue Planet ll being the key catalyst. At Ben Frost Procurement, we bring a range of experience and insight, from sustainable packaging sourcing to designing a packaging strategy or supply chain risk reviews. If you would like to talk visit website or ring 07766 837184