The Circularity Gap Report 2023, which was produced by Circle Economy, assesses the advancement of the circular economy on a global scale. The paper offers suggestions for addressing the global economy's cyclical nature and details what needs to be done to take action.
The research underlines that it has been shown that the rate of global economic cyclicality is declining yearly. The circularity gap was last reported to have declined between 2018 and 2020 from 9.1% to 8.6%. The world economy's 7.2% circularity rate stands out in the 2023 report. The emphasis is placed on the fact that this rate declines over time due to an increase in material acquisition and use. The report also draws attention to the low recycling rates of these increasing materials.
According to the research, there are already 100 billion tons of materials available worldwide, up more than threefold since 1970 and nearly twice as much since 2000. According to this data, it is stated that the global transition to a circular economy is encouraged to establish secure borders and that with this transition, only 70% of the world's present material requirements will be sufficient to meet human needs.
According to the study, if a circular economy is established globally, greenhouse gas emissions can be lowered, keeping the increase in global temperature to 2 degrees. One of the common viewpoints in this situation is that the circular economy is crucial to this situation and that regulations by themselves won't be enough to minimize emissions.
Four guiding principles for the development of the circular economy were identified in the report: minimal consumption, long-term use, reuse, and maintaining cleanliness. According to the stated primary principles, the production of raw materials is anticipated to decrease by one-third (from 92.7 billion tons to 61.2 billion tons) with the shift to a circular economy. About the areas of food systems, the built environment, manufactured goods, and mobility/transportation, 16 solution examples are provided to control overshoot. It is claimed that these remedies can reverse present excesses and ecosystems in the air, water, and soil can be safeguarded.
Reduce, regenerate, and redistribute are the three main areas for action emphasized in the paper. The paper provides some action examples for decision-makers and corporate executives based on these subjects.
To access the report, click the link.