FIVE MINUTES WITH ...
CRAIG COULTER
WE SAT DOWN WITH CRAIG COULTER , ADVANCED MANUFACTURING & MOBILITY SUSTAINABILITY LEADER AT EY , TO UNDERSTAND WHAT STEPS MANUFACTURERS CAN TAKE TOWARDS ACHIEVING A CIRCULAR ECONOMY
Q . CAN YOU EXPLAIN THE CONCEPT OF CIRCULAR MARKET OPPORTUNITIES AND HOW THEY CAN BENEFIT MANUFACTURERS ?
» For manufacturers , the circular economy is a framework focused on transitioning current value chains – the 3 Rs ( reduce , reuse , recycle ), which are the primary outcomes for products and materials produced . The financial opportunities for manufacturers are enormous .
As economies shift , they increasingly focus on outcomes placing value on not just how a product performs , but the design , the source of the materials , the energy usage , and whether it can be reused or recycled . Manufacturers that successfully incorporate circularity throughout their product lines will have a significant advantage over competitors .
Strong corporate circularity will also mitigate oncoming risks . From material sourcing and regulatory compliance to new generations of workers expecting sustainability to be core to the business they work for , embedding circularity will help manufacturers withstand rapidly changing market expectations .
20 July 2023