85 A circular economy accounts for all of the impacts of materials and activities and seeks to avoid waste through careful choices at the planning stages. The responsible use of materials and deployment of eco-design principles eventually enable businesses following a circular approach to attain zero-waste status. By applying circular economy principles (cutting waste and pollution; circulating products and materials, and focusing on protecting and regenerating nature), organisations can build resilience while gaining a clearer idea of the true value of the resources they use and how to deploy them most efficiently. This allows for better risk mitigation as growth is decoupled from environmental impact – a core requirement of true circularity. The EFQM’s Circular Economy Models document states: “In the ideal circular economy, there’s no such thing as waste. The ultimate goal is for economic growth to be independent of environmental impact. It encourages the use of renewable energy and materials and can be accelerated by digital innovation.”1 As the environmental, social and regulatory risks attached to linear business models become clearer, circular models are increasingly seen as adding value and reducing investment risks. According to the World Resources Institute, “The unrealised wider economic benefits of transitioning to a circular economy is currently valued at US$4.5 trillion over the next decade, exceeding the estimated benefits from business as usual within the current linear economy.”2 1 Source: EFQM, Circular Economy Models 2 Source: World Resources Institute, Platform for Accelerating the Circular Economy Circularity, waste and pollution “ In the ideal circular economy, there’s no such thing as waste. The ultimate goal is for economic growth to be independent of environmental impact. It encourages the use of renewable energy and materials and can be accelerated by digital innovation” EFQM
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