Business Leaders and NGO'S Join Forces to Call for a "True North" for a Sustainable Global Economy

Jun 06, 2016, 03:00 ET from The Business Debate Ltd

LONDON, June 6, 2016 /PRNewswire/ --

An ensemble of Global Business Leaders NGO'S and academics has joined forces to call for a, sustainable global economic model to be adopted by Governments and Businesses alike.

     (Photo: http://photos.prnewswire.com/prnh/20160603/375306 )

Peter Lacy, Managing Director (Accenture Strategy); Werner Furhmann, Executive Board Member (Akzo Nobel N.V).and Leonie Schreve, Global Head of Sustainable Lending (ING Bank); join the cast in an engaging new 18 minute documentary film called "Circularity-Preparing For The New Economy" produced by Digital Content and marketing specialists The Business Debate Ltd (http://www.thebusinessdebate.com).

The film, 'Circularity: Preparing for the new economy', provides a broad overview of what the "circular economy" is and contains commentary from a number of business analysts. It asks how we can sustain economic growth in a world of finite natural resources and a growing global population.

In the film, Peter Lacy says:

"The idea of a true north version of capitalism that provides the economic development, prosperity and positive growth that we want, but does it in a way that is socially just and environmentally sustainable, is the key challenge that we face as a generation, not just of business leaders, but of governments and citizens around the world."

Background 

Since the industrial revolution, global population, waste, natural resource and energy use has grown exponentially and our economies have used a "take-make-consume and dispose" pattern of growth - a linear model which assumes that natural resources are abundant, available and cheap to dispose of.

The film describes how  our current economy, one dependent on virgin, finite, natural resources a "linear economy" simply cannot work in the long-term and how globally we need to adopt an economic model that is built for the world we face today and tomorrow.

This new economic model has become known as "The Circular Economy" and offers a model for an economy that would be more resilient in the long-term and create more prosperity for a changing world.

According to The United Nations we live in a world where if we don't change our methods of production and consumption-in the face of exponential global population growth and the accompanying industrial production, we will face a forty percent shortfall in the availability of fresh water, anticipating global forecasts for demand and available supply by 2030 and, where we know that the demand for food will grow by 70% by 2050 at the same time as we face declines in agricultural yields and fresh water sources.

While our present "linear economy" has been successful in creating wealth and taking millions out of poverty, it's now "past its sell by date" because the surplus available from cheap oil and materials has declined, natural resources are in decline and we now need to move to a more resilient economic system that would feature the reuse of materials and "closed loop cycles".

According to research by Dutch Bank ING sustainable business is more profitable business-, as Leonie Schreve, says:

"Companies that are pro actively approaching sustainability and resource scarcity we already see in research that the financial performance of these companies is better. It can range from 30-40% better".

Peter Lacy continues: "The circular economy is a concept that is pro-business and pro-growth but it's about driving a different kind of growth - a growth that innovates for customers, and eliminates wasted and harmful materials. It's based on the idea of using assets more effectively, closing loops, extending product lifecycles, while not cannibalising business". 

Research from Accenture Strategy, unveiled in its book, Waste to Wealth, suggests that The Circular Economy can unlock $4.5 trillion in value by 2030 for "organisations that get it right".

Quotes.

Dustin Benton-Head of Energy-The Green Alliance

"The best way of describing the circular economy is to contrast it with the linear economy which is what we have today. And the linear economy is pretty simple. We dig things up, we use them for a bit and then we shove them back in a hole in the ground. If you imagine yourself as  an alien looking down on the planet at all this activity you'd think it was pretty crazy".

Professor Julia Stegemann UCL.

"Change is always an opportunity. This is a change that is happening, it's going to happen, it's inevitable. Companies do need to prepare themselves and the opportunity is to be on the leading edge".

Sophie Thomas-Founder The Great Recovery Programme.

"This is a circular economy, This is a whole new economic model. It's not going to happen overnight. It's going to be painful".

For commentary on the film and issues therein .
simon.baker@thebusinessdebate.com, +44-(0)203-733-6374
sophie@thomasmatthews.com
justyna.gnyp@accenture.com
Renee.Schnitzler@ing.com
APenfold@green-alliance.org.uk
vivi.hollertt@akzonobel.com

 

SOURCE The Business Debate Ltd