Microsoft, Nestlé & Unilever: Circularity in Australia
Transitioning to a circular economy will transform business and the world, redefining growth by decoupling economic activity from the consumption of finite resources.
However, “most CEOs don't get it,” according to Ashley Olsson, Committee Member for Circular Economy at Standards Australia.
“We've talked to many CEOs about circularity in the last 18 months. They don't see the full potential. They have recycling tunnel vision.”
A 2024 report from the Australian Climate Leaders Coalition, an initiative of The B Team Australia, details how the country can adapt.
Titled “Towards a Circular Economy: A Playbook for Australian CEOs, Organisations and Ecosystem Partners”, it includes insights from sustainability leaders across industries.
The opportunities of a circular economy
The report says that transitioning to a circular economy can help to address 45% of total global greenhouse gas emissions.
Many climate efforts focus on renewable energy and energy efficiency measures, and while this accounts for 55% of global emissions, 45% from products remains.
It can also help to build more resilient supply chains and unlock an estimated AU$210bn (US$133.7bn) boost in Australia’s GDP by 2048.
Circularity efforts could also provide 17,000 FTE jobs to Australia.
“We aim to contribute to a more resilient and equitable food system, free of hunger and waste,” Bel Quince, GM Sustainability for Planet at Woolworths says to the Climate Leaders Coalition.
How to get started on circularity
The report says that interviews with leaders revealed four essential capabilities that enable successful circular economy initiatives:
- Integration of circular economy principles into business and ESG strategy
- Collective action and stakeholder management
- Enabling technologies and design innovation
- Engagement with and changes to human behaviour
Rik Irons-Mclean, Worldwide Sales Enablement Lead Sustainability at Microsoft, told the Climate Leaders Coalition: “The circular economy requires a neutral, scalable and open digital backbone to enable and accelerate transformation, designed with shared-value in mind.
“This should not only provide new commercial opportunities, but be measurable to show progress.”
About the Australian Climate Leaders Coalition
The Climate Leaders Coalition is a group of cross-sectoral CEOs supporting the commitments of the Paris Agreement through an open, confidential and authentic forum.
It is an initiative of B-Team Australia and contains CEOs from publicly listed, private and non-governmental organisations.
The Coalition’s key partners are Deloitte and Climateworks Centre and its 2024 projects are supported by Deloitte Australia, PwC Australia, McKinsey & Company, Bain & Company, EY Australia and Accenture.
Members of the coalition include Nestlé, Schneider Electric, Unilever, Microsoft and Qantas.
“Waste is only waste if we waste it,” says Sandra Martínez, CEO at Nestlé Oceania, CLC Circular Economy CoSponsor on behalf of Deep Dive Members.
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