Read the full story from the World Economic Forum.
Circular economy solutions are critical for sustainable growth and climate action. But the circular economy hasn’t hastened as only 8.6% of the world is currently circular. This proportion needs to almost double to shrink the global carbon footprint and tackle challenges such as waste and resource depletion.
Collaboration between players is key but difficult to achieve. In the traditional economy, players at different ends of the value chain rarely engage with each other, so circular innovations are often costly with low levels of adoption.
To make meaningful progress in circularity, we must create a collaborative ecosystem, turning trash to treasure and scaling that up. Singapore is excited about how such collaborations can lower barriers for different sectors to adopt circular innovations. Here are some promising actions.