The World Circular Economy Forum + Climate (WCEF+Climate) was jointly organized by The Netherlands and The Finnish Innovation Fund Sitra on 15 and 16 April 202. The event brought representatives of governments, international organizations, companies, experts and civil society together to increase knowledge around the link between circular economy and climate mitigation efforts to reach climate targets.
The event highligted the role of the circular economy in achieving the United Nations' Sustainable Development Goals by 2030 and underlined that the transition to a circular economy, enabling more efficient use of resources and driving sustainable consumption and production, as well as inclusive and sustainable industrialization, contributes significantly to tackling climate change, biodiversity loss and pollution and achieving climate neutrality.
As stated at the event, globally, 70% of emissions are linked to material handling and use, with material extraction predicted to almost double by 2060. However, experts underlined that circular economy could help to reduce sectoral emissions from aluminum, cement, plastics and steel up to 40% by 2050.
A wide range of topics were discussed through the event and the key takeaways of the sessions are summarized below:
- Applying circular economy solutions is vital to close the current emissions reduction gaps and deliver against the targets of the Paris Climate Agreement to limit global warming to well below 2 degrees. Governments all around the world, therefore, are encouraged to integrate the circular economy in their national climate plans and strategies.
- By applying circular economy principles, 20% of green gas emissions can be reduced. This fact underlines the importance of circular economy in achieving climate neutrality.
- Policymakers have a very important role to play in circular transition. They can support this crucial 2050 transition by setting clear goals and putting ambition into action. In addition to this, the private sector should also take the initiative/lead and move forward.
- The importance of collaboration between regions, governments, organizations, research institutes, sectors and companies was emphasized throughout the meeting. In line with this, the participants from different organizations were invited to enhance their efforts and work closely to create awareness, increase knowledge and accelerate circular transition.
- To execute circular economy strategies, monitor the progress and create a common language through the value chains, the need for understandable and credible metrics systems was pointed out.
- The importance of the financial sector in accelerating and scaling up the circular transition was emphasized. International financial institutions and private investors were encouraged to make circular dimensions a part of their practices.
In order to promote global action, WCEF+Climate invited organizations, governments and businesses to make a circular economy commitment.
As part of this global action, the Turkey Circular Economy Platform is committed to supporting the Turkish private and public sectors in their efforts to adopt a circular economy as a guiding model to recover after the pandemic, build a more resilient economy and ensure sustainable economic growth.
