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Forética presents the global circular economy initiative "Factor 10".
Circular Economy

The Circular Economy Action Group, coordinated by Forética as a partner in Spain of the World Business Council for Sustainable Development (WBCSD) and composed of 10 large Spanish companies, organized its first meeting of the year. The meeting was attended by Brendan Edgerton, Director of the Circular Economy Program of the World Business Council for Sustainable Development (WBCSD), who presented the lines of work of the Factor 10 initiative of the WBCSD with the aim of supporting companies in integrating the circular economy into their strategy.

This Group is made up of 10 large companies: Deloitte, Ecoembes, Ecovidrio, Endesa, Grupo Siro, IKEA Ibérica, ING, Nestlé, Saica and Vía Célere.

As the representative of the WBCSD pointed out, according to the report Circularity Gap Report published by this organization, only 9.1% of all resources used in our production system are reintroduced back into it. In order to face this challenge and provide companies with the main trends and tools in this area, the Factor 10 initiative - which was presented at the Davos Forum - is working on analyzing the opportunities that the circular economy represents for companies, the development of specific guides by sector and collaboration with public administrations and opinion leaders to contribute to the transition towards the circular economy.

Germán Granda, CEO of Forética, emphasized that "Forética will continue working to transfer global benchmark initiatives such as this one to the Spanish business context, with the aim of highlighting the importance of companies adapting to the circular economy as an element for improving competitiveness and reducing risks".

The WBCSD representative also presented the business alliance to end plastic waste, an example of how companies are responding to a more conscious consumer and incorporating circular economy strategies.

After the WBCSD presentation, the companies started their work this year with a practical workshop on measuring circularity in the company, which allowed them to learn which challenges linked to the circular economy are most relevant to their activity, which aspects are important to measure and which indicators and measurement frameworks are suitable for this purpose.

As highlighted by Elena Ruiz, Head of the Task Force, "we have identified that one of the challenges of implementing the circular economy in the private sector is the lack of a consistent framework for measuring and monitoring circularity; therefore, developing companies' knowledge of the most appropriate metrics in this area is essential to guide decision making towards a more competitive and resilient company".

Following this workshop, which was given by Inèdit (a strategic eco-innovation studio), the Group will continue its lines of collaboration with public administrations and opinion leaders to contribute to the transition in Spain towards the circular economy, and will continue to give visibility to good practices as a sign of business commitment in this area, in the same way as in its previous work Closing the circle. The Circular Economy business case.

 

About Forética

Forética is the leading association of companies and professionals in corporate social responsibility / sustainability in Spain and Latin America, whose mission is to promote the integration of social, environmental and good governance aspects in the strategy and management of companies and organizations. It currently has more than 200 members.

Forética is the only representative in Spain of the World Business Council for Sustainable Development, and therefore the Spanish Business Council for Sustainable Development. It is also a national partner of CSR Europe.

In Spain, Forética is a member of the State CSR Council as an expert member. It is also the owner of the SGE 21 Standard, the first social responsibility management system that allows certification to be achieved on a voluntary basis. At present, more than 150 companies and organizations are certified to the standard in Spain and Latin America.

 

Consult the document of the Circular Economy Action Group, Closing the loop. 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".

 

More information is available at www.foretica.org and on Twitter and LinkedIn profiles.

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