Forética and the Circular Economy Action Group, which coordinates with 11 large Spanish companies, have presented the report "Measuring the Circular Economy. Frameworks, Indicators and Impact on Business Management". The document, presented at the Circular Economy Business Forum event organized today by Forética, analyzes the business opportunities of measuring the circular economy in business management and contains a roadmap to support companies in this measurement.
This roadmap is based on three clear questions: what to measure, how to measure and what to measure for. The line of work set out in the report begins by identifying the extent to which the organization is contributing to the shift towards a circular economic model, and analyzing which are the priority material flows in the life cycle of its products, processes and services, and then defining which actions are relevant for the organization and the measurement framework that best fits. It is then important to translate the metrics into economic and strategic implications, scale up the impact on a global scale in line with the 2030 Agenda and communicate progress.
In this regard, the report highlights the importance of carrying out a specific analysis of the "circularity" of each sector in order to make faster progress in this transition, which will lead to the creation of 2 million jobs in Europe by 2030, according to European Commission estimates. The document contains a series of practical examples that illustrate how the Group's companies are measuring their approach to the circular economy. The Circular Economy Action Group is made up of 11 large companies: Cerealto Siro Foods, Deloitte, Ecoembes, Ecovidrio, Endesa, IKEA Ibérica, ING, Nestlé, Red Eléctrica de España, Saica and Vía Célere.
Likewise, within the framework of the Sustainable Development Goals (SDGs), the report analyzes which goals included in the 2030 Agenda have a link with the integration of the circular economy and how it contributes to their achievement.
In this line, the CEO of Forética, Germán Granda, stressed that "the new economic model proposed by the circular economy is the first opportunity to generate a change in the way of producing and consuming since the industrial revolution. This change is presented as the solution to accelerate the response to the most urgent challenges we face, as evidenced in the 17 SDGs and their corresponding goals".
As highlighted by Elena Ruiz, Coordinator of the Task Force, "the report presented today responds to the challenge posed by the lack of a consistent framework for measuring and monitoring the transition to the circular economy. This ambitious transition requires the action of different stakeholders (public sector, private sector and consumers, among others) in a coordinated manner and seeking strategic alliances for impact".
The presentation of the report, organized at the headquarters of the Inter-American Development Bank (IDB) in Madrid, was attended by representatives of the European Commission in Spain, the Spanish Chamber of Commerce, the Ministry of Ecological Transition and the High Commissioner for the 2030 Agenda.
In its second year, the Circular Economy Action Group continues to communicate the latest trends in the field and to collaborate with public administrations in the transition to the circular economy. You can consult here the first document of the Circular Economy Action Group under the title Closing the circle. The Circular Economy business case. In line with this theme, Forética has recently published with the Inter-American Development Bank (IDB) the report "Good corporate practices in food loss and waste reduction in Latin America and the Caribbean".
As part of its commitment to this issue, Forética is part of Factor 10, the WBCSD's business leadership group on Circular Economy. Additionally, Forética is one of the member organizations of the Circular Economy Commission, led by the Spanish Chamber of Commerce.