Circular Economy services
Today’s business environment is characterized by linear, traditional economies in which “take-make-waste" production systems harm the environment. A circular economy is here to challenge our thinking and enable sustainable growth.
What EY teams can do for you
Today’s business environment is at a crucial juncture. Longstanding linear economies, dominated by "take-make-waste" production systems, are clashing with the urgent need for more sustainable practices. Traditional operations produce staggering amounts of waste — the EU alone generates 2.5 billion tonnes annually. Moreover, the extractive nature of these economies places substantial stress on our already overburdened environment.
However, an alternative presents itself in the form of the circular economy. This economic system, grounded in sustainability, aspires to minimize waste and maximize the continued use of products and materials with a streamlined focus on creating restorative and regenerative natural systems. Today, stakeholders ranging from government regulators to conscientious consumers are pushing for increased transparency across various business operations and value chains, including resource utilization, procurement methods and waste management.
Government regulations, particularly ones like the recently implemented Corporate Sustainability Reporting Directive (CSRD) by the EU, are pushing companies to carefully scrutinize their resource flows and related processes. The CSRD establishes stringent standards and disclosure mandates focusing on the circular economy and resource flows. These measures are integral to the progression of the Circular Economy Action Plan, a cornerstone of the EU’s ambitious Green Deal initiative.
These newly imposed laws and evolving business trends offer ripe prospects for growth and more importantly, sustainable growth. Companies availing those opportunities can lead to innovative product designs, revamped production processes and significant improvement in resource efficiencies. Those efforts are of massive importance to accomplish the EU’s declared goal of climate neutrality by 2050 and prevent further loss of biodiversity.
The EY organization is positioned ideally to help your organization actualize the numerous advantages and opportunities that a circular economy offers. Drawing from a diverse pool of seasoned national and international professionals with strong backgrounds in business, engineering, science and operations, we provide an array of services such as:
- Directing companies toward implementing circular business models
- Crafting impactful strategies and comprehensive roadmaps facilitating the transition to a circular business model
- Identifying and mapping circular prospects within the value chain
- Guidance on resource efficiency, waste management and packaging
- Preparing and advising on life cycle assessment (LCA)
- Verify reporting according to the Waste from Electrical and Electronic Equipment (WEEE) Directive
- Expert counsel on legal requirements and regulation mapping
- Providing robust support with communication and reporting on circular economy-related actions, especially concerning the CSRD and EU Taxonomy
Let's embark on the journey to a resilient and sustainable future with the EY organization as your trusted collaborator.
