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Forética launches the Business Action Group for Circular Economy

Posted: Wednesday 18 October 17, 4.03pm GMT

Forética has launched the Business Action Group for Circular Economy gathering 9 large companies with the ambition of establishing a Corporate Leadership Meeting Point for Circular Economy. The aim of the group is to transfer the latest international trends, generate further knowledge and collaborate with the public administration regarding potential circular economy national strategies. The Business Action Group for Circular Economy, has analysed the context of the circular economy both in Spain and internationally, as well as key points that will shape its activity in the sector.

This group of businesses, coordinated by Forética –the Spanish representative of the World Business Council for Sustainable Development—aims to advance the understanding of the feasible responses to the challenges and opportunities put forth by a circular economy, highlighting the invaluable contributions made by the private sector in this realm.

The inaugural meeting took place on the 13th of November 2017, joined by the 9 companies making the Business Action Group for Circular Economy; Ecoembes, Endesa, Gas Natural Fenosa, IKEA Ibérica, ING, LafargeHolcim, Nestlé, OHL and Unilever, making The group explored the key topics that will serve as a starting point in achieving the group’s stated aims for this first year. Amongst the objectives is the generation of further knowledge regarding the business case, trends and tools available to businesses in order to advance towards a circular economy strategy, by virtue of publications and specialized training sessions. Furthermore, the Working Group will be open to dialogue and collaborations with the public administration and leading actors in the sector, in order to further progress in delineating strategies combining competitiveness and sustainability.

The Circular Economy as a Key to the Future

The Business Action Group has evaluated the increasing importance of the transition towards a circular economy model and the fundamental role that business will play in it. On a European level, the European Commission adopted in December 2015 an ambitious new series of measures regarding the Circular Economy, in order to enhance competitiveness, create employment and generate sustainable growth. In turn, the Spanish Ministry of Agriculture, Fishing, Food and the Environment has communicated the central government’s intention to design a Circular Economy National Strategy.

In this context, Germán Granda, General Director of Forética, has emphasised that “the circular economy represents an opportunity to reduce our dependence upon natural resource and create value for both businesses and stakeholders. Forética aims to, through this initiative, analyse the ways in which the uptake of a circular economy can help businesses drive growth in their bottom lines, improve their competitiveness and minimize their risks.

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Laura Bengoa

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