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  • Scaling up Circular Economy Best Practices

    Scaling up Circular Economy Best Practices

    Europe to lead the Charge with Nature at heart, Green Deal Orientation

    ……As A Sitra Memorandum is due Publication during WCEF2023 in Helsinki

    Story: Mohammed Abu

    Kari Herlevi, Project Director, Global collaboration Finnish Innovation Fund, Sitra, has cautioned that, human activity is exceeding the carrying capacity of nature and thereby threatening the very foundation of our economy and well-being and as such, humanity he urged, need to quickly transition to a society that improves the state of the environment and enables everyone to adapt to the carrying capacity of nature.

    The circular economy, Mr. Herlevi noted, “is a systemic approach to production, consumption and materials management that gives us more value from what we have, leaving room for nature to thrive” adding,” this is possible by maximizing both value and use of products and materials, and by applying regenerative principles”.

    The predominantly globally linear economy, he also intimated, accounts for biodiversity loss, Climate Crisis and Depletion of natural resources.

    Mr. Herlivi made these remarks during an online Press Briefing in Helsinki, Finland, on Tuesday, ahead of the impending World Circular Economy Forum(WCEF2023) slated for 30TH May-2 June, in Helsinki.

    Investing in the circular economy, he urges, is a way to increase profitability and resilience for companies across value chains. It also reduces dependencies on scarce virgin materials and creates sustainable growth and new jobs.

    The World Circular Economy Forum held annually since 2016 in Finland, the Netherlands, Canada and Rwanda is an International platform to develop and scale up best practices

    World Circular Economy Forum 2023 edition is hosted jointly by Nordic Innovation and Sitra, the Finnish Innovation Fund, with international partners in Helsinki from 30 May to 2 June.

    The event offers, four (4) Plenaries on critical global themes, 16 Parallel sessions on hot circular economy topics and solutions and 2 days of Accelerator Sessions organized by partners. With areas dedicated for Expo, Exhibitions and Networking, the Forum will showcase global change makers and build the capacity to collaborate.

    The World Circular Economy Forum 2023 seeks to explore circular solutions for nature and the economy, zooming in e.g., on finance, food, forestry, future skills, metrics, mining and energy, as well as road maps, trade and value chains, engaging the voices of young generations to top level discussions.

    World’s Circular Economy Snapshot

    Current state of circular economy globally – The Circular Material Use Rate is still far too low: in the EU 11.7 per cent in 2021, while target for 2030 is 23.4 per cent – More and more circular beacons: for example, material innovations in batteries, forestry and textiles – Circular momentum nearing a tipping point – 77% of EU firms touch upon circular economy in their sustainability reports – 40+ countries have circular economy road maps and strategies. The EU is leading the way, but others are following closely… – 52 NDCs include circular economy – Global treaties

    “Europe can lead the way – putting the nature at the heart of the European Green Deal”, Will be published on 29 May: A Sitra memorandum offering “building blocks” upon which to design the next version of the European Green Deal.

    The paper address EU policy from the point of view of reducing the pressures on nature while creating new market opportunities and innovation. Focusing on: – ecosystem accounting and biodiversity offsets as enablers and tools for making nature’s value a visible part of decision-making – mainstreaming circularity by creating a circular single market – viewing nature as a business opportunity – using data and digital product passports as enablers of a green transition – Reforming the common agricultural policy

    “Nordic solutions accelerating the circular economy “notes, Svein Berg Managing Director Nordic Innovation

    The Finnish Parliament established Sitra as a gift celebrating the 50th anniversary of Finland’s independence. The public future-oriented organization in 1967, was given the mission to build the successful Finland of tomorrow.

  • Top circular economy event calls for future-proofing of investment portfolios

    The seventh World Circular Economy Forum (WCEF) shows how to create a new economy, businesses and jobs, by leveraging circular solutions to solve the planetary crises. Held in Helsinki, Finland from 30 May to 2 June, the leading circular economy event gathers forward-looking doers and thinkers and presents the game-changers helping governments, industries, businesses and households become circular.

    Picture: Topias Dean / Sitra

    This year’s World Circular Economy Forum WCEF2023 shows how the pressing challenge of rapidly scaling up circular solutions can be answered worldwide. For instance, the forum demonstrates how investing in the circular economy is a way to increase profitability and resilience for companies across value chains. Reducing dependencies on scarce virgin materials create sustainable growth and new jobs. Collaboration is key so that entire value chains can become more circular.

    The Forum also explores the role and possibilities of the financial sector to tackle challenges and drive coherent action towards de-risking investment in circular initiatives globally. We aim to demonstrate that well-being within the boundaries of nature is possible with policies which create incentives to adequately price natural resources and unlock investments to support uptake.

    “I hope businesses and investors as well as countries are looking for truly future proof strategies. Are they ready to respond to the growing call to put nature at the heart of all decision making, business and our lifestyles? Through the WCEF2023, we want to help all kinds of organisations look further into the sustainable and profitable future,” says Jyrki Katainen, President of the Finnish Innovation Fund Sitra, WCEF2023’s co-host.

    Another important topic of the forum are circular solutions to halt the loss of biodiversity, where the food and agriculture sector can make the greatest contribution. Additionally, decarbonising the world is critical: as the demand for metals and materials grows exponentially, circular solutions are needed more than ever.

    “Setting up new conservation areas is of course necessary, but not enough. If we ever reached the global target to protect 30% of our land and water areas, more significant is what happens in the other 70%. From this point of view it is necessary to integrate economy and market mechanisms to bring solutions,” Katainen continues.

    The WCEF2023 brings together more than 2,000 new economy pioneers in Helsinki and thousands more online. You can hear the ideas of more than 120 speakers, participate in 42 results-oriented accelerator sessions, and explore more than 50 circular economy champions in the Expo area. The WCEF2023 is the place to find the best business models, financial instruments, innovations, partners, policies and strategies.

    Visions for a circular future by young leaders

    The WCEF2023 amplifies strong voices of young generations about the need of transformation from the current linear “take-make-waste” economic system towards a sustainable and regenerative circular economy. At the same time, young voices at the Forum are challenging the way we currently understand the circular economy and demanding for not only their voice but also that of nature to be heard.

    “We need to include younger generations to the circular economy discussions as this transition will define their future. That is why we have engaged youth organisations and asked them to actively join the circular economy community at the WCEF2023”, says Svein Berg, Managing Director of the Nordic Innovation, also co-host of WCEF2023.

    Meet top doers and thinkers from all over the world!

    How the game-changing solutions will be scaled up everywhere will be discussed at WCEF2023 in Helsinki by Managing Director of BlackRock Christopher Kaminker, Chief Impact Officer of Circulate Capital Ellen Martin, Vice-President of European Investment Bank Ambroise Fayolle, Director of African Development Bank Anthony Nyong, Managing Director of the Nordic Development Fund Karin Isaksson, UN Assistant Secretary-General Elizabeth Mrema, Executive Vice-President of the European Commission Frans Timmermans, EU youth delegate to the UN Nadia Gullestrup Christensen, Founder of Swivel Skills & UnSchool Leyla Acaroglu, President and CEO of Metsä Group Ilkka Hämälä and Co-Founder of Climate Farmers Philippe Birker, among others.

    Online press briefing on 23 May and accreditation

    Want to learn more? Representatives of the co-hosts will share their thoughts and answer questions in an online press briefing on 23 May 15:00 (EEST; UTC+3) / 12:00 (UTC). The briefing is limited to representatives of the media and will take place on Microsoft Teams.

    The speakers of the press briefing include:

    • Kari Herlevi, Head of Global Collaboration Unit for Sustainability Solutions, The Finnish Innovation Fund Sitra
    • Svein Berg, Managing Director, Nordic Innovation

    Media representatives are required to register for the briefing by 22 May 16:00 (EEST; UTC+3) / 13:00 (UTC) at https://www.lyyti.fi/reg/WCEF2023__Online_press_briefing_0547. Registered journalists will be provided with the link to join the Microsoft Teams meeting.

    To join WCEF2023 from 30 May to 2 June online or on-site in Helsinki, media accreditation is needed and is available on the event website at www.wcef2023.com/media.

    Mediakit and logos

    Download our media kit from WCEF2023’s website for more background information on the circular economy and the World Circular Economy Forum. You’ll find story ideas, contact information of experts for your interviews as well as recommended background material.

    The WCEF2023 logo is available at Sitra’s material bank.

    Media contacts

    Media inquiries and interview requests should be addressed to WCEF2023’s media liaisons:

    Source:(SITRA/Nordic Innovation)