IE Seminar – Closing the loop through circularity

IE gathered experts to deliberate on the topic of closing the loop through circularity. It highlighted the need and impact that circular economy will create on businesses.

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Shift from competitive mindset to collaboration…

– Emma Sairanen, Project Coordinator, Global collaboration, Sustainability solutions, SITRA

Sitra was created by the Finnish parliament in celebration of the nation’s 50th anniversary in 1967. Since then, our mission has been dedicated to shaping a prosperous Finland for the future. Our vision encompasses a fair, sustainable and inspiring future, that prioritises the well-being of people while respecting the Earth’s finite resources.

Sitra has been actively engaged in collaborating with government bodies, businesses and educational institutions to facilitate a transition towards circular practices. Central to this effort has been the World Circular Economy Forum, a premier global event that has been hosted annually since 2017. This forum has traveled across continents, from Japan, Canada to Rwanda, and this year, we are taking it to Brussels with the aim of accelerating global transitions towards a circular world.

Human activity must align with earth’s capacity
While our initial focus was primarily on climate change and circular economy, our perspective has evolved to recognise that the ecological challenges we face, extend beyond climate change. Human activities such as land use change, overexploitation of natural resources, pollution and the introduction of invasive species are all contributing to the erosion of nature’s carrying capacity. Thus, we advocate for a global transition to a circular economy as a means to align human activities with the Earth’s capacity.

Despite the fact that our societies still have a long way to go towards achieving circularity, there are encouraging signs of progress. Globally, one in four countries are currently developing or implementing national circular economy roadmaps, marking a significant increase from just a few years ago. Moreover, businesses and financiers are increasingly recognising the potential of circular economy principles, with one-third of CEOs considering circularity a top priority.

Circular economy is a framework but collaboration is the tool
Transitioning requires a shift from a competitive mindset to one of collaboration across value chains, sectors and stakeholders. The time for addressing climate change and biodiversity as separate issues has passed. It is imperative that we prioritise solutions that simultaneously regenerate ecosystems and mitigate emissions. Circular economy offers a framework, but concerted efforts and collaboration are essential to realise its full potential.

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