Fast tracking to a circular economy

90 billion tonnes of materials were extracted globally in 2017. Only a fraction cycled back into the economy, resulting in pollution and wasting about US$4.5 trillion in recoverable resources.

Denmark, Japan, Netherlands and UAE are redesigning the global “take-make-dispose” economy into a more circular one.
They join over 50 government and business leaders from the Platform for Accelerating the Circular Economy (PACE). The World Economic Forum is hosting and facilitating PACE.
Certainly, members are committed to cutting waste and pollution and fast-tracking circular economy solutions.   Solutions include redesigning products and materials, and recovering and reusing to reduce environmental impacts.
Importantly, extending the life of products creates new business opportunities and revenue streams.  Moreover,  it minimizes the environmental impact of mining, resource extraction, refining and manufacture.

Circular milestones

Japan is one of the most resource-efficient economies globally.  It has recently launched the 4th Fundamental Plan for Establishing a Sound Material-Cycle Society, a new public-private Plastics Smart campaign.
The Netherlands government aims to achieve circularity by 2050 and halve the use of primary resources by 2030. Denmark launched its Circular Economy Strategy and a related National Action Plan on Plastics. On the other hand, the UAE is shaping strategic action to advance the circular economy.
To date, PACE has catalysed major projects and collaborations.
They include the Global Plastics Action Partnership.  It was launched in collaboration with the Friends of Ocean Action at the Forum’s Sustainable Development Impact Summit in New York.
Additionally, PACE is also focused on waste from electronics.
In 2016, the world generated 44.7 million metric tonnes of e-waste, equivalent to the weight of 4,500 Eiffel Towers. Above all, e-waste contains a number of toxic substances that can cause great harm to health.
At the same time, the UN estimates that some 55 Billion Euro worth of secondary raw materials lays idle in e-waste.

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