Demand for finite resources is increasing, which has raised resource security concerns up businesses’ list of priorities.
Doing more with less can save businesses money, reduce reliance on finite materials and secure significant cuts in greenhouse gas emissions. But there are often significant market and regulatory barriers to taking action on resource efficiency and transitioning to circular business models.
The government is working to make the UK a world leader on resource efficiency and has committed to doubling productivity by 2042. This will mean ‘closing the loop’ and capturing more materials that are deemed to be ‘waste’ when they have been used just once: the UK currently sends at least £3.8bn worth of resources to landfill, annually.
We need a new definition of what is waste and better support for businesses to use each others’ outputs, as inputs. This will mean working in partnership with the EU and its Circular Economy Package and ensuring UK standards align or exceed those set in Europe, to ensure UK businesses have a standardised regulatory landscape.