A key question raised at this year’s World Economic Forum in Davos from 22-26 May was how can we avoid the next crisis? Resilience and adaptability are now vitally important. For instance, how can we secure the raw materials needed for the energy transition given the geopolitical situation? Clearly, the circular economy has a large role to play here. By ensuring that everything is used at its highest value for as long as possible, the circular economy can reduce the need for finite virgin resources. By ensuring that we use regenerative resources, the circular economy can greatly reduce the dependency on fossil fuels that can spur conflict. 

The forum featured many circular sessions, tackling important topics from developing the UN Treaty on plastic pollution to envisioning what responsible consumption looks like. Below is a recap of these: 

Collaborating for Circular Industry Transformation (23 May, 17:00 – 18:15) 

PACE Board Member, Peter Lacy, moderated this workshop which focused on identifying best practices for circular approaches to green public procurement, addressing industry scope 3 accountability for sustainable supply chains, and collaborating on the scaling of circular economy solutions to unlock value and supply chain resilience. 

Strategic Outlook: Responsible Consumption (24 May, 10:45-11:30) 

Consumption and global populations are continuing to rise, this session addressed the need for new business models, policies, and incentives that can responsibly and inclusively advance consumption for a healthier planet and people. Watch the livestream. 

Towards a Global Treaty on Plastic Pollution (24 May, 17:30-18:15) 

The UN’s decision to mandate a UN legally binding treaty to tackle plastic pollution was a historic step. In this session, what it will take to craft a meaningful, timely and effective global treaty on plastic pollution was examined, with speakers including PACE Leaders Marco Lambertini and Lea Wermelin. Watch the livestream. 

Accelerating Sustainable Value Chains (25 May, 9-9:45) 

This session examined the strategies, policies and partnerships that can help manufacturing companies accelerate the transition to sustainable value chains, with PACE Leader Enrique Lores speaking at the session. Watch the livestream. 

Changing the Game for Circular Innovation (25 May, 13-13:45) 

PACE Leader Enel was part of the discussion on how business and government leaders can use systemic innovation to unlock circular approaches and disrupt global markets for good. Watch the livestream. 

PACE at Davos 

PACE led a session on ‘Doubling Global Circularity by 2032’ hearing from leaders on their ambitions and work to contribute to the goal of accelerating a circular economy. David McGinty, PACE’s Global Director, also shared his insights throughout his time at Davos, check out PACE’s LinkedIn or Twitter to learn more. 

This year, whilst the forum in Davos focused on the crises and challenges the world has faced in recent times, such as the Ukrainian War and the pandemic, this did not diminish the importance of accelerating a circular economy. In fact, such a system has the potential to reduce consumption and emissions to better protect our planet and people. We need to act now, which is why PACE has a Global Goal to help double global circularity by 2032, find out how you can join the ambition.