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Circular Economy 100 programme launches

Circular economy

Image courtesy of WRAP

 

The Ellen MacArthur Foundation has today (6 February), launched the Circular Economy 100 (CE100), a three-year programme aimed at bringing together a ‘network of 100 leading companies globally to facilitate development and commitment to new circular economy projects’.

As part of the programme, companies will identify ways in which to promote a circular economy and result in ‘an aggregated economic benefit of $10 billion (£6.4 billion) by 2015'.

Twenty companies have already confirmed their membership of the programme, which officially opens today, including WRAP, Coca-Cola, M&S, IKEA Group and Morrisons. The programme will seek its remaining membership from industry sectors in the hopes of creating a conglomerate of bodies which ‘will provide the opportunity for companies to stimulate circular economy innovation, foster collaboration, build capacity and unlock the economic opportunity through accelerator workshops, distance learning modules and an annual summit’.

According to CE100, membership includes: 

  • access to a library of best practice guidance and application tools;
  • access to an online executive education programme;
  • access to a series of acceleration workshops aimed at stimulating circular economy innovation;
  • an annual summit which will expose members to latest thinking, offer an opportunity to showcase success stories and network with other CE100 members.

Speaking of the launch of CE100, Dame Ellen MacArthur said: “The circular economy represents a clear and proven opportunity for businesses around the world. Our new initiative brings cohesion and focus to this opportunity and allows businesses to share experiences, learn from best practice and to work together to achieve real business benefits. Each of the members of the CE100 has made a commitment to a circular economy initiative. In total we anticipate that this have a value of more than $10 billion, encouraging innovation, investment and job creation.”

Dr Liz Goodwin, CEO of WRAP, commented: “I am delighted WRAP will be at the heart of this business-critical initiative. We will bring a combination of technical expertise combined with proven experience as a catalyst for change, to this important new learning collaboration.” 

Doing Good Business

In addition to joining CE100 as a ‘pioneer member’, WRAP has also today launched a video aiming to showcase the business potential of the circular economy, as well as a new report that highlights innovative new business models for the clothing sector that could help deliver the circular economy.

The video for businesses outlines the four stages of a circular economy: how we design, make and sell, reuse and recycle products. ‘Doing Good Business: The commercial benefits of a circular economy’ sees WRAP sector specialist Gerrard Fisher explain the practical steps businesses can take, as well as the services WRAP offers to help interested companies.

And the ‘Evaluating the financial viability and resource implications for new business models in the clothing sector’ report looks at the commercial viability of five alternatives to traditional make-buy-use-dispose business models. WRAP claims the report ‘takes into account realistic estimates of the required investment, operating costs and sales value’ for each alternative model.

The models show how the life of clothes can be extended, helping to prevent them being prematurely discarded. The options examined are: repair and upgrading services; large-scale leasing of baby clothes; large-scale hiring of designer clothes; resale of pre-owned garments; and an online platform for peer-to-peer clothing exchange. Each model was assessed on the opportunity to build turnover as well as deliver a commercially attractive margin and return on investment. 

Goodwin added: “To stay ahead in today’s competitive markets, companies need to reconsider the way they do business. The traditional consumption model of buy-use-dispose is rightly being challenged. You can see why when you consider the significant commercial value that can be realised from used clothes, as well as the water and material resources used in their production.”

Read more information about Circular Economy 100 and WRAP’s work on the circular economy.