Scaling up Circular Economy Best Practices

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Europe to lead the Charge with Nature at heart, Green Deal Orientation

……As A Sitra Memorandum is due Publication during WCEF2023 in Helsinki

Story: Mohammed Abu

Kari Herlevi, Project Director, Global collaboration Finnish Innovation Fund, Sitra, has cautioned that, human activity is exceeding the carrying capacity of nature and thereby threatening the very foundation of our economy and well-being and as such, humanity he urged, need to quickly transition to a society that improves the state of the environment and enables everyone to adapt to the carrying capacity of nature.

The circular economy, Mr. Herlevi noted, “is a systemic approach to production, consumption and materials management that gives us more value from what we have, leaving room for nature to thrive” adding,” this is possible by maximizing both value and use of products and materials, and by applying regenerative principles”.

The predominantly globally linear economy, he also intimated, accounts for biodiversity loss, Climate Crisis and Depletion of natural resources.

Mr. Herlivi made these remarks during an online Press Briefing in Helsinki, Finland, on Tuesday, ahead of the impending World Circular Economy Forum(WCEF2023) slated for 30TH May-2 June, in Helsinki.

Investing in the circular economy, he urges, is a way to increase profitability and resilience for companies across value chains. It also reduces dependencies on scarce virgin materials and creates sustainable growth and new jobs.

The World Circular Economy Forum held annually since 2016 in Finland, the Netherlands, Canada and Rwanda is an International platform to develop and scale up best practices

World Circular Economy Forum 2023 edition is hosted jointly by Nordic Innovation and Sitra, the Finnish Innovation Fund, with international partners in Helsinki from 30 May to 2 June.

The event offers, four (4) Plenaries on critical global themes, 16 Parallel sessions on hot circular economy topics and solutions and 2 days of Accelerator Sessions organized by partners. With areas dedicated for Expo, Exhibitions and Networking, the Forum will showcase global change makers and build the capacity to collaborate.

The World Circular Economy Forum 2023 seeks to explore circular solutions for nature and the economy, zooming in e.g., on finance, food, forestry, future skills, metrics, mining and energy, as well as road maps, trade and value chains, engaging the voices of young generations to top level discussions.

World’s Circular Economy Snapshot

Current state of circular economy globally – The Circular Material Use Rate is still far too low: in the EU 11.7 per cent in 2021, while target for 2030 is 23.4 per cent – More and more circular beacons: for example, material innovations in batteries, forestry and textiles – Circular momentum nearing a tipping point – 77% of EU firms touch upon circular economy in their sustainability reports – 40+ countries have circular economy road maps and strategies. The EU is leading the way, but others are following closely… – 52 NDCs include circular economy – Global treaties

“Europe can lead the way – putting the nature at the heart of the European Green Deal”, Will be published on 29 May: A Sitra memorandum offering “building blocks” upon which to design the next version of the European Green Deal.

The paper address EU policy from the point of view of reducing the pressures on nature while creating new market opportunities and innovation. Focusing on: – ecosystem accounting and biodiversity offsets as enablers and tools for making nature’s value a visible part of decision-making – mainstreaming circularity by creating a circular single market – viewing nature as a business opportunity – using data and digital product passports as enablers of a green transition – Reforming the common agricultural policy

“Nordic solutions accelerating the circular economy “notes, Svein Berg Managing Director Nordic Innovation

The Finnish Parliament established Sitra as a gift celebrating the 50th anniversary of Finland’s independence. The public future-oriented organization in 1967, was given the mission to build the successful Finland of tomorrow.

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