Maximising Resource Efficiency And Transitioning To A Circular Economy

While industrialisation, economic development, and quality of life have improved significantlyover the last century, years of the traditional linear take-make-dispose economy have hadadverse effects on natural capital and has pushed us closer to the triple planetary crisis –climate change, nature and biodiversity loss, and pollution. Decoupling economic developmentfrom environmental degradation will be critical moving forward and transitioning to a circular economy (CE) can help to tackle this issue, especially as global population and urbanisationcontinue to rise. However, this requires a transformative systemic shift, involving both the publicand private sectors, consumers, and society. The Group of Seven (G7) is in a unique position tolead on this front by collaborating with each other and the Global South through knowledgesharing of effective domestic CE policies and strategies, enhancing international frameworks,increasing public investments, and promoting public-private partnership initiatives toaccelerate the transition to circularity and more resource efficient business practices, includingthe adoption of more renewable energy systems throughout the value chain.