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Wil Sillen

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From: Climate Change I care
๐‡๐Ž๐– ๐‚๐ˆ๐‘๐‚๐”๐‹๐€๐‘ ๐ˆ๐’ ๐“๐‡๐„ ๐“๐‘๐€๐๐’๐ˆ๐“๐ˆ๐Ž๐?
By: Zsuzsanna Tajti
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WBCSD (World Business Council for Sustainable Development) has released its โ€œ๐‚๐ข๐ซ๐œ๐ฎ๐ฅ๐š๐ซ ๐“๐ซ๐š๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐ˆ๐ง๐๐ข๐œ๐š๐ญ๐จ๐ซ๐ฌ ๐ฏ4.0 โ€“ ๐Œ๐ž๐ญ๐ซ๐ข๐œ๐ฌ ๐Ÿ๐จ๐ซ ๐›๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ, ๐›๐ฒ ๐›๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌโ€ report:
โ—พ๏ธ answering the question how businessesโ€™ circular performance & #sustainability impact can be measured in a consistent & reliable way,
โ—พ๏ธ offering a universal quantitative framework for evaluating how #circular a company is.
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๐‘ป๐‘ฏ๐‘ฌ ๐‘น๐‘ถ๐‘ณ๐‘ฌ ๐‘ถ๐‘ญ ๐‘ช๐‘ฐ๐‘น๐‘ช๐‘ผ๐‘ณ๐‘จ๐‘น ๐‘ป๐‘น๐‘จ๐‘ต๐‘บ๐‘ฐ๐‘ป๐‘ฐ๐‘ถ๐‘ต ๐‘ฐ๐‘ต๐‘ซ๐‘ฐ๐‘ช๐‘จ๐‘ป๐‘ถ๐‘น๐‘บ
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Circular #transition indicators have at least 3 important functions:
1๏ธโƒฃ Measuring impact: enabling the companies to quantify & communicate the climate & nature benefits of their circular initiatives.
2๏ธโƒฃ Strengthening reporting capabilities: providing #investors & regulators with circular performance #data.
3๏ธโƒฃ Facilitating action: guiding companies to increase #circularity within their operations, identifying practical steps to optimize resource use, limit waste & maximize their circular potential (#circulareconomy).
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Consequently, these indicators can help companies to prepare for their transition based on insights into their circular performance, associated #risk & opportunities, by providing information about:
โ—พ๏ธ the companiesโ€™ circularity level,
โ—พ๏ธ the way how targets for improvement can be set,
โ—พ๏ธ the way how improvements resulting from their circular activities can be monitored.
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๐‘ป๐‘ฏ๐‘ฌ ๐‘ญ๐‘น๐‘จ๐‘ด๐‘ฌ๐‘พ๐‘ถ๐‘น๐‘ฒโ€™๐‘บ ๐‘ฒ๐‘ฌ๐’€ ๐‘ญ๐‘ฌ๐‘จ๐‘ป๐‘ผ๐‘น๐‘ฌ๐‘บ
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โœ… It is simple, flexible, applicable across industries & value chains, comprehensive, complementary to the companiesโ€™ existing sustainability efforts, agnostic as to material, sector or #technology.
โœ… Its core is the self-assessment which determines the companyโ€™s circular performance.
โœ… It focuses primarily on the circular & linear mass that flows through the company, and provides insights into overall resource use optimization, the link between companiesโ€™ circular material flows & their business performance.
โœ… It gives insights into how circularity helps to achieve sustainability objectives related to #climate & #nature.
โœ… It guides companies in scoping & preparing the assessment, interpreting the results, understanding their risks & opportunities, prioritizing actions & establishing SMART targets to monitor progress.
โœ… The CTI Online Tool (in partnership with Circular IQ) even offers the possibility to assess value chain implications.
โœ… Instead of providing a single rating, it empowers the companies to determine whether the results are in accordance with their ambitions.
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https://www.wbcsd.org/Programs/Circular-Economy/Metrics-Measurement/Resources/Circular-Transition-Indicators-v4.0-Metrics-for-business-by-business
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  • Wil Sillen

    โ€ข

    87 w

    Very insightful

    7

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