Circular economy and SMEs

Have you ever heard of the circular economy? Do you have any ideas for using it as an opportunity and growth lever for your SME? I’d love to hear your ideas on the subject. In this 3rd publication in the ESG for SMEs series, discover this innovative concept that is revolutionizing our current economic and environmental model!

What is the circular economy

The circular economy aims to decouple economic growth from the depletion of natural resources and environmental impact through two key mechanisms:

• Rethinking our production and consumption patterns to consume fewer resources and protect ecosystems;
• optimizing the use of resources that are already in circulation in our societies.

According to the Pôle québécois de concertation sur l’économie circulaire, the circular economy is defined as a system of production, exchange and consumption aimed at optimizing the use of resources throughout the life cycle of a good or service. Its aim is to reduce the environmental footprint while contributing to the well-being of individuals and communities.

What are the benefits of the circular economy?

Several studies highlight the expected benefits of the circular economy, such as reduced production and supply costs, lower selling prices, increased GDP 📈, local job creation and reduced greenhouse gas emissions.

The circular economy isn’t just an abstract concept. Initiatives along these lines are already multiplying around the world, given the urgent need to change our linear economic model in the face of dwindling natural resources and climate change.

Implementing an ESG strategy can seem daunting at first, but I’m here to help! With a background in financial institutions and risk management, I have the expertise to guide you through the complexities, develop a customized ESG plan specifically designed for your industry, and effectively demonstrate the value it will bring to your operations.

Source: CIRIDD, W. (2019). Concept and definition. quebeccirculaire.org. https://lnkd.in/eEkWEDyd

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