Solutions
Circular economy
World resources are running low as three years’ worth of resources will be consumed in just one year by 2050. In the same interval, the world's consumption of resources like biomass, fossil fuels, metals and minerals are predicted to quadruple while annual waste production is predicted to rise by 70%. Companies that will be leading the way towards circular economy models will benefit from new business opportunities, emerging market segments and also from access to new incentives and funding opportunities, both public and private.
Why evolve to circular models now
Data published by Eurostat indicate a circularity ratio of only 1.4% for the Romanian economy in 2022, compared to the EU average of 11.5%. At the same time, the legislative framework in force at EU and local level, as well as the waves of anticipated changes – for example, reduction of plastic consumption, plastic tax, use of recycled materials, reuse of products, the use of sustainable energy sources – will determine companies to promptly adopt changes in the way they operate.
All these reveal the need for an effort to understanding and action and also a significant potential for improvement and growth for companies that choose to turn their business towards the circular model.
How Deloitte can help you
Deloitte can support your company in reducing systemic risks and implementing innovative solutions along supply chains, to reach circularity through a wide range of services, such as:
We help companies become familiar with the concept of circular economy.
- Introduction to circular economy
- European and local regulations
- Impact of regulations on the company
We evaluate the company current status against the principles of a Circular Economy and define areas for improvement, following several steps:
- Defining your current level of circularity
- Identifying gaps between current maturity level and sustainability targets
- Drawing a list of circular opportunities to increase sustainability and green revenue streams
- Draft a roadmap for next steps
We assist companies in understanding the importance of a circular procurement.
- What is circular procurement?
- What are the steps to ensure circular procurement?
We help companies implement a circular procurement by developing tailored policies which will:
- Define circular public procurement in the context of the organization
- Identify products, services, departments to which it applies
- Set objectives, priorities and deadlines and monitor them
- Identify additional activities (training, communication strategies)
We help companies identify their packaging costs and how to reduce them by:
- Collection of financial information on the company's cost with used packaging
- Determination of costs arising from the obligation to recycling the packaging waste from packaging put on the market
- Determination of hidden costs that may occur
- Identifying ways to reduce costs
We assist companies in identifying and assessing their current status, including via analysis of consumed materials and raw materials with the greatest impact on the transition to a circular economy.
We support companies to comply with eco-design requirements based on sustainability and circularity aspects, such as product durability, reusability, upgradability and reparability, recycled content of products, product remanufacturing and high-quality recycling, and for reducing products’ carbon and environmental footprints.
We support companies assess their suppliers from a sustainability perspective, via:
- Verification of aspects of environmental management systems
- Compliance with applicable environmental legislation, use of hazardous/ banned substances, voluntary actions, etc.
- Evaluation of environmental and procurement policies
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