- In its fourth edition, Forética's 'Circular Economy Action Group' will focus on maximizing business ambition in the circular economy, addressing the systems transformation needed to tackle the post-crisis recovery COVID-19
- Led by 12 major companies, the Action Group will focus on key areas such as designing roadmaps and tools to achieve the goal ofZero Waste; deepening public-private collaboration; advancing measures on financing or innovation to accelerate the circular economy; addressing the link with other major environmental challenges, such as climate change, protection of natural capital and urban sustainability.
Madrid, October 20, 2020.- The Circular Economy Action Group, led by Forética and headed by 12 large Spanish companies, will focus its fourth edition (2020-2021) on moving towards greater circular ambition, focused on the transformation of systems needed in the so-called 'Decade of Action', aligned with the fulfillment of the Sustainable Development Goals (SDGs).
The recent report published by Forética 'The time for the necessary transformation: The 2030 Agenda as a guide for global recovery' shows how COVID-19 has had a critical impact on many of the historic advances achieved so far. In response, the United Nations proposes to carry out a transformation of systems, in which the circular economy and the importance of decoupling economic growth from environmental impact are priority aspects.
"From Forética's joint work with its partners, we have the opportunity for companies to take advantage of the lessons learned from this crisis and initiate the necessary transitions to build a more sustainable and resilient society. In the 'Circular Economy Action Group' we will address the redefinition of sustainability strategies and establish more ambitious goals that will allow us to accelerate action on the circular economy," says Germán Granda, CEO of Forética.
In addition, the European Green Pact and the Spanish Circular Economy Strategy represent very ambitious frameworks for business action. There are many aspects identified in these frameworks that require maximum commitment from companies, such as the reduction of food waste (the Spanish Strategy includes the objective of reducing waste generation by 50% per capita in households and retail consumption, and by 20% in the production and supply chains from 2020) or the responsible management of plastics (as stated in the latest Forética report on the new plastics economy).
Elena Ruiz, head of Forética's Circular Economy Action Group, explains that "the work in the next edition will be based on different lines of action to maximize ambition in terms of circular economy, with the design of roadmaps and tools to achieve the goal of 'Zero Waste' (Zero Waste); deepening public-private collaboration, identifying the keys for the realization of impact partnerships and their contribution to current frameworks, such as the Spanish Circular Economy Strategy; advancing on measures to accelerate the circular economy such as access to finance or innovation; and finally, addressing the link with other major environmental challenges, such as climate change, protection of natural capital or urban sustainability."
About the Circular Economy Action Group
The Circular Economy Action Group is a business meeting point for leadership, knowledge and dialogue to highlight the importance of developing circular business models. This Group is made up of 12 large companies: Cerealto Siro, Damm, Ecoembes, Endesa, Epson, Grupo Antolin, Grupo Saica, LafargeHolcim, Naturgy, Nestlé, P&G and Red Eléctrica de España.
After focusing on the circular economy business case, analyzing challenges and opportunities in this area, and collaborating with the WBCSD on the CEO guide on circular economy, the Group worked on metrics and indicators. During this year 2020, it has focused on addressing the business transition to the new plastics economy, with the following reports published:
