In this video, Natalia Lopez, Circularity Lead for Europe, Middle East and Africa at PwC, gives insights into the industry’s transition to a circular economy. While there are no universally accepted definition of what circular economy is, PwC is using the defintion of the Ellen McArthur Foundation with its focus on value preservation and reduction of waste.
One of the key challenges is the disparate definitions and reporting frameworks employed by different companies shich makes comparison difficult. Initiatives such as the EU Green Deal aim to dispell this uncertainty by focusing not on compliance but on genuine transformation. Companies must also possess the practical skills to manage sustainability data effectively and centralize data management to measure progress effectively.
Natalia also mentions IEEE role to play in this transition, she suggests the development of workshops to aid companies in understanding and implementing sustainable practices. These workshops would clarify the standards and regulations help industry navigate the complexities of the circular economy with confidence.
Video credit: PwC
