The enormous worldwide increase in the use of raw materials in today’s linear economy is leading to the depletion of natural resources and a decrease in biodiversity. Climate change and environmental pollution are also being intensified. The circular economy aims to reuse raw materials as much and for as long as possible.
This new economic system has the potential to guarantee a high standard of living for the world population within the carrying capacity of the earth. The circular economy also offers opportunities for a growing labor market.
Accelerate the circular economy
The international Platform for Accelerating the Circular Economy (PACE) wants to help accelerate the circular economy. PACE was founded in 2018 by the World Economic Forum (WEF), the United Nations Environment Program (UN Environment), technology company Philips and the Global Environment Facility (GEF), among others.
PACE wants to effectively scale up existing interventions and collaborations within the circular economy. The platform builds public-private coalitions in which governments and companies learn from each other how they can best become circular. To this end, PACE collects knowledge from practical projects and the platform develops new indicators and models for the adoption and replication of existing success formulas to other sectors or in other countries.
The platform also promotes circular projects in the fields of plastics, electronics, food and the bio-economy, as well as business models and markets. PACE is working in China, Africa and Europe on the upscaling of existing circular initiatives. Knowledge partners of PACE are the World Resources Institute, the Ellen MacArthur Foundation, Circle Economy, the International Resource Panel and Accenture Strategy.
“For the transition to a circular economy, the global value potential is estimated at $ 4,500 billion by 2030, while at the same time restoring our natural systems. We have made progress on this transition, but unfortunately the speed and scale remains a challenge to date. For this reason, PACE has been launched as a platform to demonstrate leadership within the circular economy and develop action-based projects.”
– Frans van Houten, CEO Philips and Co-chair PACE
In addition to the Dutch government, approximately fifty organizations now participate, divided between governments, companies and international organizations. The Goldschmeding Foundation supports PACE because the platform supports concrete projects that help to shape the labor market within the circular economy in practice.
In 2019, PACE aims to scale up plastic and e-waste projects, accelerate three plastic public-private partnerships, implement a successful Nigerian funding model for e-waste collection and processing in other African countries, and circular pilot projects in China.
Photo header: Jan Böttinger