Building Blocks for the Circular Economy
Goal: To understand the critical facets of making a circular economy work
This panel focuses on the “nuts and bolts” associated with implementing the concepts of a circular economy within a company environment. We start by addressing the important role that effective stakeholder engagement can play throughout the process, then focus on discussing the challenges and pitfalls that must be recognized and avoided during the plan execution phase. Among the specific challenges discussed, the panel focuses on the importance within both the regulator and regulated communities of recognizing the difference between a regulatory-based sustainability approach vs. sustainability-based regulations, and the need for both. Two key concepts discussed include the significance of regulators and industry engaging together in these challenges, as well as understanding the principles of “doing the right project” vs. “doing the project right.” Finally, while lots of time and effort can be expended in addressing and discussing the aforementioned challenges and issues, the importance of integrating these concepts as part of a company’s overall business plan cannot be overstated. Therefore, the panel closes with suggestions and considerations for how to successfully achieve this necessary integration, including the significance of clearly defining roles and responsibilities.