Circular economy: New Accenture study shows opportunities for EU chemicals

A new report launched by Accenture demonstrates the potential of the EU chemical industry to be a driver for the success of the circular economy. 

The study shows a variety of achievements where the chemical industry plays a decisive role e.g. the major energy-savings achieved in private households with better insulation material, the impact on fuel consumption and related emissions when using lightweight material in the automotive industry; and the major progress associated with food packaging to avoid food waste and the associated economic and environmental impacts.

The study also describes a number of approaches for (re)using resources in an efficient and sustainable manner. This ranges from the use of renewable feedstock all the way to waste to energy recovery and CO2 utilisation.

Moving to a circular economy will be a gradual process. Chemical companies will gradually bend the linear “take-make-dispose” models, working on the two ends—raw materials and increased recyclability of end products—and continue moving forward until they have created a circular model.

This study serves as a valuable source for today’s discussion in Europe and beyond. It provides encouragement to the chemical industry through the opportunities offered by a circular economy and it reminds yet again that such a circular world will only be a gain for society as a whole, if everyone contributes to this story.

SOURCE: www.cefic.org