Around the world, businesses, governments, and individuals are recognizing the problems created by the traditional take-make-dispose model of production and consumption. In 2019 alone, more than 92 billion tonnes of materials were extracted and processed, accounting for nearly half of global CO2 emissions. The resulting waste – including plastics, textiles, food, and electronics – is putting immense pressure on both the environment and human health.
A circular economy provides a sustainable alternative, focusing on reducing waste and ensuring natural resources are continuously and safely reused. This approach could unlock up to $4.5 trillion in economic value by 2030.
However, making this shift requires extensive collaboration, especially since only 8.6% of the global economy currently operates on circular principles. Significant progress is still needed. To support this transition, the World Economic Forum’s Circular Economy Initiative unites stakeholders from the private and public sectors, along with civil society and experts, to drive change by focusing on three key areas.
Strengthening Leadership Commitment
The Platform for Accelerating the Circular Economy (PACE) was introduced in 2017 by the Forum to bring together leaders from both the public and private sectors, encouraging commitments and fostering collective action toward a circular economy.
Today, the PACE network includes 80 executive leaders from government, business, and civil society, along with over 200 members driving 18 global projects. Since early 2019, the PACE Secretariat has been based at the World Resources Institute in The Hague, continuing its collaboration with the Forum to advance circular economy efforts.
Reshaping Material Value Chains
The Forum facilitates a range of partnerships aimed at transforming global material value chains by promoting circular solutions in sectors such as plastics, electronics, batteries, automobiles, and fashion.
Global Plastic Action Partnership (GPAP)
Established in 2018, GPAP is a public-private initiative that turns commitments to a circular plastics economy into actionable strategies and investment plans.
Circular Electronics Action Partnership
This initiative spans the entire electronics lifecycle – from production to recycling and waste management – unlocking new opportunities for sustainability.
Global Battery Alliance
A coalition of around 60 members working together to build a sustainable and responsible battery supply chain.
Trade & Circular Economy Collaboration
This initiative examines how global trade policies can support and accelerate the transition to a circular economy.
Expanding Innovation and the Fourth Industrial Revolution
Scale360° is a developing initiative designed to drive engagement among innovators, policymakers, civil society, and private sector leaders to strengthen the ecosystem for circular economy solutions through Fourth Industrial Revolution (4IR) technologies. The focus areas include plastics, electronics, food, and fashion/textiles.
This initiative builds upon insights from a 2019 report, which examined how 4IR technologies can accelerate the transition to a circular economy by integrating advanced innovations into sustainable production and consumption models.
Mary Watson
