What policies can help to support the development of the circular economy? What other interventions will be the most effective to foster more circular activity?
We help both governments and businesses to understand the potential of the circular economy and to develop practical policies that will help to deliver it.
Businesses are trying to respond to increased concern from consumers regarding the impacts that products they might buy will have on the planet. We support businesses in understanding their impacts and taking effective steps to reduce them – which can be particularly challenging for those with long supply chains or extensive networks of suppliers. Circular economy business models create ways to extend product life whilst increasing profitability – for example through servitisation, including lease and repair models, take back, remanufacture and closed loop recycling. In all these areas we can help to identify the key issues, prioritise solutions and help you build a business case for change.
Working at regional, national or supra-national levels, we also advise government on how to identify market failures that are leading to products having poor environmental outcomes and to quantify the benefits that could be achieved if these problems were addressed. We can also help design both supply and demand-side policies and evaluate which will lead to the best overall outcomes.
On the supply side, we can help business and government weigh the pros and cons of adopting labelling systems – whether voluntary or mandatory – and to inform consumers about the green credentials of their products. We can also support the eco-design of product and service offerings that better incorporate circular economy principles, and help suppliers to understand how to meet greener specifications.
On the demand side, we can devise green procurement systems that enable public or private bodies to grasp opportunities to burnish their own green credentials while driving change amounts suppliers. We can also advise on, and recommend, policy interventions that will alter market dynamics including:
- Deposit return schemes;
- Mandatory takeback requirements;
- Minimum warranty periods; and,
- The adoption of specific eco-design requirements.
To find out how we can support you in incorporating circular economy principles into your operations and policies, contact Mark Hilton.