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New playbook helps companies to unlock circular economy opportunities

A new playbook from Sitra and Deloitte provides insight, examples and hands-on tools to help businesses make the transition to a circular economy.

Writer

Antti Lehtinen

Specialist, Communications and Public Affairs, Sitra

Published

Curbing the climate crisis and halting global biodiversity loss cannot wait. This means that economic growth and prosperity can no longer be based on the wasteful use of natural resources and on buying and owning more and more new goods.

The circular economy The circular economy An economic model which does not focus on producing more and more goods, but in which consumption is based on using services – sharing, renting and recycling – instead of owning. Materials are not destroyed in the end, but are used to make new products over and over again. Open term page The circular economy is an economic model that addresses the root causes of biodiversity loss, the climate crisis and the depletion of natural resources.

It provides an opportunity for all companies to develop new business, expand into new markets and create sustainable growth.

The benefits of the circular economy are clear, but there are always challenges when shifting to new business models – Where do I start? How do I set goals? How do I measure success? And how do I get everyone onboard?

Sitra and Deloitte have compiled a practical guide that provides insight, examples and hands-on tools to help businesses in this endeavour.

The playbook, “Sustainable growth with circular economy business models”, is aimed at companies that want to differentiate themselves from their competitors, respond better to the needs of customers and other stakeholders and create more value with fewer resources. This is made possible by five circular business models presented in the guide.

A circular economy is not about producing more goods but about maximising the value from what we have and keeping that value in the economy for as long as possible through smarter design, digital solutions and a shift from owning products to using services.

Sitra has previously compiled a list of 41 pioneering circular economy companies in Finland. The list demonstrates that there is no one-size-fits-all solution for companies to make the transition to a circular economy; but each company can find their own appropriate circular business model.

Download the playbook “Sustainable growth with circular economy business models”.

Read Sitra’s list The most interesting companies in the circular economy in Finland 2.1.

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