{"id":9636,"date":"2024-01-24T18:00:56","date_gmt":"2024-01-24T18:00:56","guid":{"rendered":"https:\/\/circularports.vlaanderen-circulair.be\/?p=9636"},"modified":"2026-04-03T13:18:56","modified_gmt":"2026-04-03T11:18:56","slug":"the-global-economy-has-fallen-to-be-7-2-circular","status":"publish","type":"post","link":"https:\/\/demo.sidekick.be\/circularports\/the-global-economy-has-fallen-to-be-7-2-circular\/","title":{"rendered":"The global economy has fallen to be 7.2% circular"},"content":{"rendered":"
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Global circularity still in decline despite circular economy ‘megatrend’<\/h2>\n

Today, Deloitte and\u00a0Circle Economy Foundation<\/a>\u00a0released the\u00a0Circularity Gap Report 2024<\/a>, finding the vast majority of extracted materials entering the economy are virgin, with the share of secondary materials declining steadily since the Circularity Gap Report began in 2018. The report identifies three main areas where reforms can help accelerate progress toward the circular economy: policy, finance, and employment.<\/span><\/p>\n<\/div><\/div>

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The decline in circularity continues despite the concept of a circular economy\u2014one that aims to help reduce consumption of virgin materials and keep materials in circulation\u2014growing in popularity, with the volume of discussions, debates and articles on the topic almost tripling in the past five years.\u00a0The report outlines how governments and industry leaders can move from commitment to action by adopting policies and frameworks that incentivize circular practices while penalizing harmful ones, adjusting fiscal policies and practices to help create true prices that include the social and environmental costs of a product or service, funding circular solutions so that they can replace linear norms, and helping ensure their workforce is skilled and trained to support a just transition. The report also focuses on transformative circular solutions across the food system, built environment, and manufactured goods.<\/p>\n<\/div><\/div>

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The circular economy is gaining popularity, but falling short on action<\/p>\n<\/blockquote>\n<\/div><\/div>

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\u201cLeveraging the Circularity Gap Report, stakeholders are able to prioritize their circular roadmap based on a data-driven analysis. Policymakers, industry leaders, and financial institutions can agree on focus areas and work collaboratively on the systemic change needed to stay within our planetary boundaries,\u201d<\/em> says Ivonne Bojoh, CEO of Circle Economy Foundation. \u201cTo ensure the transition to a circular economy is just and fair, circular solutions must be designed with the world\u2019s most vulnerable populations in mind, then these solutions will reduce inequalities across workforces and increase job opportunities worldwide.\u201d<\/em><\/p>\n

Along with the report, Deloitte also announced an exclusive partnership with Circle Economy Consulting, an impact consulting firm that is a spinoff of\u00a0Circle Economy Foundation<\/a>. The collaboration can help organizations realize circular economy opportunities from designing strategy, to implementing transformation, to measuring and reporting on progress.<\/p>\n

\u201cSuccessfully piloting and scaling circularity requires close coordination across business functions and supply chains. Through our relationship with Circle Economy Consulting and Circle Economy Foundation we\u2019ll bring insights from the Circularity Gap Reports directly to businesses to unlock value. Combined with Deloitte\u2019s end-to-end capabilities, this allows us to create new solutions to help our clients scale circular transformation at the pace and the ambition needed to realize significant commercial opportunity and enable sustainable and resilient supply chains,\u201d<\/em> says\u00a0David Rakowski, partner, Deloitte UK<\/b>, who is leading Deloitte\u2019s global circularity offering.<\/p>\n

The collaboration can help businesses tap into a budding market projected to reach US$2-3 billion by 2026, and help them reduce material extraction while increasing the resilience of their supply chains. Drawing on the end-to-end capabilities of\u00a0Deloitte\u2019s Sustainability & Climate practice<\/a>\u00a0globally, the collaboration can help businesses with data analysis and navigating regulatory complexity to shape strategy, through to organizational transformation that places people and digital at the heart, to measurement and reporting.<\/p>\n

\u201cImplementing and monitoring circularity are becoming key success factors for businesses to both remain ahead of the game and to comply with anticipated regulation. In joining forces, Deloitte and Circle Economy Consulting will help actualize circular economy principles by empowering clients to take charge of their circular performance,\u201d<\/em> says\u00a0Marc de Wit, Managing Director of Circle Economy Consulting<\/b>. \u201cWe\u2019re looking forward to combining Circle Economy Consulting\u2019s circularity expertise with Deloitte\u2019s breadth of experience, cutting edge technology, and subject matter, industry, and transformation specialists to help businesses reach tangible and scalable results.\u201d<\/p>\n

\u201cPrioritizing circular efforts today can help organizations retain a competitive advantage while accelerating progress against their environmental goals. We\u2019re proud to help businesses around the world address their environmental footprint, adapt their value chains, and shift to a circular approach,\u201d<\/em> says\u00a0Jennifer Steinmann<\/b>,\u00a0Deloitte Global Sustainability & Climate Practice leader<\/b>. \u201cTogether with Circle Economy Consulting, we will continue to drive market discussion and collaboration by bringing Deloitte\u2019s technology and strategy capabilities to designing, piloting, and ultimately scaling circular solutions globally.\u201d<\/em><\/p>\n<\/div><\/div>

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Circularity Gap Report 2024<\/h2>\n

The Circularity Gap Report is an\u00a0annual report measuring the state of circularity<\/strong>.\u00a0It is launched annually during The World Economic Forum’s Annual Meeting in Davos<\/strong>.<\/p>\n

The report provides a framework and fact-base to measure and monitor progress in bridging the global circularity gap.\u00a0The report offers a clear map forward to scale the circular economy and drive down emissions.<\/p>\n<\/div><\/div>

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To the 2024 report<\/span><\/i><\/a><\/div><\/div><\/div><\/div>
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