Circularity Why circular economy is important for Cornwall? Prof. - PowerPoint PPT Presentation

Circularity – Why circular economy is important for Cornwall? Prof. Peter Hopkinson Director of the University Exeter Centre for Circular Economy Circular Economy Summit 2019 Grow Your Business Through Collaboration

The idea of a circular economy Circular Economy Summit 2019 Page 9 Grow Your Business Through Collaboration

Beyond recycling • Design out waste and pollution • Keep products and materials in use • Regenerate natural systems Circular Economy Summit 2019 Page 10 Grow Your Business Through Collaboration

Economic Context: What we observe Price ▪ Material prices increasing Volatility ▪ Material price volatility increased and high risk Scarcity ▪ Critical materials with – Low recapture/recycling rates, few substitutes Economic context ▪ Economic systems perspective with (too) narrow scope and skewed incentives ▪ Evidence of exceeding planetary boundaries

Circular Economy as Local Industrial Policy • Circular Charlotte: Towards a Zero Waste and Inclusive City , found the North Carolina city’s 900,000 tons of annual waste represent a residual value of roughly $111 million per year. By simply adopting a comprehensive waste diversion strategy, Charlotte could create more than 2,000 jobs by harnessing material instead of dumping it into ever-growing landfills &$2.3 billion in revenue by 2040. • Circular Economy Summit 2019 Page 12 Grow Your Business Through Collaboration

Circular Economy as Place based Local Industrial Policy Using regional assets, material flows and local pride and entrepreneurship towards policies that drive a restorative and circular development model that empowers organizations and communities to do well by doing good – to generate economic prosperity through closed-loop and circular resource management, ecosystem restoration, and social enrichment. Circular Economy Summit 2019 Page 13 Grow Your Business Through Collaboration

Challenges • Need for overarching vision, ambition, leadership and funding • Disconnect between current assets, infrastructure, material flows and other areas of policy e.g. social – education- health policies • Huge amount of local and regional initiatives - needs joining up and integrating – show the business case • But…. Circular Economy Summit 2019 Page 15 Grow Your Business Through Collaboration

-Herman Mulder, Chairman of the Global Reporting Initiative