Putting the circular economy into motion - From barriers to opportunities

ICC, in cooperation with EY, has identified key barriers that companies face when adopting circular business models and presents avenues for policymakers and businesses to overcome them and accelerate the transition to the circular economy.

The circular economy is intended to maximise resource efficiency and minimise environmental impact by promoting continuous use, reuse and recycling of materials and products. However, despite its potential to promote large-scale sustainability, progress toward circular business models has been slow, with the global economy currently only 7.2% circular, down from 9.1% over the past five years due to increased virgin material extraction. Many businesses, especially in consumer goods, see the benefits of a circular approach but face significant barriers, including regulatory challenges and consumer behaviour.

This report explores these barriers and provides recommendations for policymakers and businesses, highlighting the crucial role of international trade in driving the circular economy.

 Putting the circular economy into motion