According to PwC, the circular economy sounds like an elegant solution to waste and resource depletion, yet in reality the complexities of creating a circular economy are daunting. It is a challenge that requires transformation on multiple levels, including internal systems, consumer interactions and cross-industry dynamics. The resulting deeply complex network of flows and dependencies can appear overwhelming when viewed as a whole, but they can be navigated with careful deconstruction of the challenge.
PwC outlines seven key areas of focus:
1. Set the stage for improvements with decent data
2. Make collaboration easier through transparency and standardisation
3. Build trust through reporting and assurance
4. Make smart standardisation of packaging a possibility
5. Absorb complexity for consumers
6. Turn complex messages into compelling stories
7. Innovate the business model so it’s easier for products to stay valuable
Read more about this on their website.