The McKinsey group, assigned by the Ellen McArthur foundation, the leading organization on the concept, produced two reports on the value creation possibilities of a circular economy. For the durable products and solutions industry these reports indicate an economic potential of EUR 250-500 billion per annum for Europe alone in the next decade.
In June 2013, Philips has become a strategic partner of the Ellen MacArthur foundation. Following the partnership, a two year project plan on circular economy has been established to embed the concept in the relevant businesses, building from the existing knowledge of the Philips Healthcare refurbishment business and the recycling activities from Lighting and Consumer Lifestyle. From economic point of view, embedding a circular economy concept promises additional value creation potential across Philips value chains.
We are also a member of Circle Economy Netherlands, which aims to accelerate the transition to the circular economy by providing an open platform where knowledge and experience is exchanged and collaborations are formed.
Please visit our dedicated global hub on circular economy, created in partnership with the Guardian Sustainable Business.