Real estate can be a leader in driving a circular economy
The last two years have reinforced the importance of good health and wellbeing for all of us and taught us to increase our sustainable efforts not just to be kinder to our environment but also to remain relevant. Businesses have had to reinvent themselves opting for more sustainable models while making a strong business case for financial benefits. As the largest consumer of raw materials and producer of waste, the construction industry is ideally placed to take a leadership position in the drive towards sustainability by adopting the principles of a circular economy.
The World Economic Forum defines a circular economy as ‘one that promotes the elimination of waste and the continual safe use of natural resources’ offering an alternative that can yield up to USD 4.5 trillion in economic benefits to 2030. It also adds that “achieving this transition requires unprecedented collaboration given that today only 8.6% of the world is circular”.
The three main goals of a circular economy are to eliminate waste and pollution; optimize and reuse products and assets; and to use renewable resources.
Challenges to circularity in real estate
What does circularity mean for the real estate sector? By reducing the use of raw […]