By Hugh Tyrrell – the director of GreenEdge, a communication and marketing consultancy specialising in the circular economy
GREENCAPE’s circular economy team helps businesses in manufacturing and retail to increase their competitiveness, investment and job creation by moving toward a circular economy. We asked Saloshnee Naidoo, Circular Economy programme manager at GreenCape to explain what the business benefits are and how GreenCape can help.
CBN – What is the business case for taking on circular economy principles and practices?
Changes in regulations are supporting sustainable innovation and driving eco-conscious practices in industry. Investors are more aware of these regulations and looking to invest in companies with strong ESG (environmental, social and governance) records.
Bringing circular economy practices into manufacturing and product design unlocks innovation and enhances competitive edge. Businesses can also better manage risk from supply chain volatility and price fluctuations associated with resource scarcity, especially if there is a strong reliance on virgin materials.
Because there is a focus on resource use and management, incorporating circular economy practices reduce wastage, while improving resource, energy and water efficiency – and making cost savings along the way.
CBN – What kind of companies are best suited for the circular economy?
The circular economy is really about recirculating materials so they stay in the value chain for as long as possible at the highest value. There are many businesses that can take on circular economy principles. Product designers, manufacturers, retailers, brand-owners, waste management companies and recyclers are particularly well suited to maximise the value of their products and services.
CBN – Where does the impetus for a shift to circular principles and activities usually come from?
Many companies have a sustainability office, so the impetus would likely come from there. Collaboration across departments is also needed to implement circular economy strategies, so the initiative should sit with all departments.
‘Circular economy’ is not an isolated concept, but rather embedded in business strategy to reap the long-term benefits for a company. It is a system change, so it may require an organisational culture shift to move from business practices that follow the traditional linear ‘take-make-dispose’ economy to moving their strategic compass towards the future.
CBN – How does GreenCape help companies who want to move into the circular economy space?
We work to identify opportunities that increase the competitiveness of businesses in the circular economy. The GreenCape team provides a range of information including market intelligence reports, industry and opportunity briefs and case studies. These are all freely available on our GreenCape website.
The Western Cape Industrial Symbiosis Programme (WISP), funded by City of Cape Town and delivered by GreenCape, is a free facilitation service that supports companies to identify underutilised resources and enable business opportunities.
Our Green Finance desk facilitates the financing of green projects and businesses. There is also a free green finance database to help businesses locate financiers. Western Cape businesses keen to learn about the circular and green economy sectors, and how we assist, are welcome to reach out to our sector desk teams at info@green-cape.co.za
