4 Steps to Drive Effective Circular Strategies for Consumer Goods and Retail Businesses – SPONSOR CONTENT FROM EY-PARTHENON

By Jim Doucette, Dr. Shahid Murtuza, Olivier Gergele and Ray MacSweeney

A thoughtful and integrated approach is crucial in moving from the traditional “take, make, waste” economy to a circular approach that prevents environmental harm that products and packaging may cause. Four imperatives are necessary for organizations to bring a circular economy to fruition.

1. Understand the material impact and externalities of the business.

Organizations from all sectors seek to accelerate their sustainability journey, but the key factors driving environmental, social, and governance impacts differ among industries.

Waste, water, and packaging all affect the food industry, but organizations need to consider topsoil degradation as well. Food companies must look beyond visible issues such as recycling to include regenerative agriculture as a pillar in their corporate strategy.

The global fashion industry accounts for up to 10% of carbon…

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This article was written by and originally published on hbr.org