Coro’s Blog: On Purpose
The exponential innovation potential of circular, social purpose businesses
Published on June 10, 2022
Society has started the long march toward living in harmony with nature’s realities. There is no other way forward. And where goes society, so goes the economy.
As concluded in the seminal circular economy report, “Turning Point,” issued by the Council of Canadian Academies, material extraction and waste are exceeding planetary thresholds. We are using 1.7 planets’ worth of resources. Our current economic model that takes, makes, uses and wastes is unsustainable. But seeds for the circular economy are springing up, shedding light on the path ahead to a better future for people and the planet.
And the circular economy makes business sense. These seedlings are making their circular moves to reap these commercial benefits:
- Opening new markets and customer segments
- Reducing operating costs
- Increasing security of supply
- Improving price stability
- Driving competitive advantage
But where to start? The “Circular Economy Business Toolkit” published by the National Zero Waste Council is a practical guide, showing how to develop a circular business strategy, circularize the design process and engage stakeholders in the circular transition.