Companies, governments, and policymakers as well as further organizations active in the circular economy are invited to join and sign the pledge. In particular, companies from the focus material industries (steel, cement, chemicals, aluminium) and their key demand industries are invited to assume an active role and boost collaborative action in the respective Action Tracks.
Circular Economy for Net-Zero Industry Transition – Pledge statement
The Circular Economy plays an essential role in reducing CO2 emissions, particularly in hard to abate sectors. The Mission Possible Partnership is working to forge net-zero pathways and the actions necessary to achieve them across 8 hard-to-abate industry sectors. This work dives deep into the circular solutions that are needed to effectively address the 45% of emissions directly associated with producing physical goods1. Four material groups play a crucial role, as they contribute 60% of global industry emissions: steel, cement, chemicals and aluminum.
Circular Economy solutions for these materials are vital in order to close the current emissions reduction gap and deliver against the targets of the Paris Climate agreement. We recognize that realizing circular solutions at scale requires innovative partnerships that bring together the right public and private stakeholders. As companies either producing or using these materials we commit to working together and with all relevant stakeholders on realizing this opportunity. In order to help deliver our net-zero decarbonization commitment by 2050 or sooner, we will engage in one or more of the following activities:
1. EMF, 2019
- Investing in R&D or scaling innovations in materials, processes or business models and implementing circular economy strategies within our own business
- Leading or joining industry wide commitments to jointly realize the potential of the circular economy
- Establishing or joining partnerships to deliver on these commitments, including working with industry stakeholders within the value chain and across other industries to co-create circular solutions
- Supporting increased public sector ambition and joining public-private partnerships
The World Economic Forum will support this agenda through “Circular Economy for Net-Zero Industry Transition” in collaboration with the Mission Possible Partnership and the governments of the Netherlands and Japan, by launching Circular Action Tracks for hard-to-abate industries.
In partnership with
With thanks to our advisory board: PACE, Circle Economy, African Development Bank, Organisation for Economic Co-operation and Development (OECD), International Resource Panel (IRP), Chatham House, and McKinsey & Company as a knowledge partner
For further information, or to engage in this initiative, please reach out to:
James Pennington, Lead, Circular Economy & China Partnerships, Centre for Global Public Goods, World Economic Forum at James.Pennington@weforum.org
Erin Bishop, Specialist, Circular Economy & Global Value Chains, World Economic Forum, at Erin.Bishop@weforum.org.
To find out more about the Circular Economy at the World Economic Forum please visit: www.weforum.org/projects/circular-economy