First self-assessment framework to measure business' circular performance launched by WBCSD and 26 companies
The CTI framework has been jointly developed with 26 WBCSD member companies, representing 13 industries, across 13 countries and USD $1.7 trillion in annual turnover, making it truly built for business, by business. The CTI is a comprehensive framework that complements a company's existing sustainability efforts and it is applicable to all companies, regardless of their industry, value chain position or geography.
GENEVA, Switzerland, Jan. 21, 2020 /PRNewswire-PRWeb/ -- Today at the World Economic Forum Annual Meeting in Davos, the World Business Council for Sustainable Development (WBCSD) launched the Circular Transition Indicators (CTI) framework and the accompanying free online tool.
Two years in the making, the CTI framework has been jointly developed with 26 WBCSD member companies, representing 13 industries, across 13 countries and USD $1.7 trillion in annual turnover, making it truly built for business, by business.
The CTI is a comprehensive framework that complements a company's existing sustainability efforts and it is applicable to all companies, regardless of their industry, value chain position or geography. It enables companies to take ownership of their circular transition and perform their self-assessment based on their own scope and priorities, in full confidentiality and without sharing data with third parties.
The CTI fills the gap for a universal and consistent way of measuring circularity. It gives companies a common language to use both for internal decision-making and for communicating with external key stakeholders in the supply chain. The CTI framework is completed by an online tool, a software specifically developed in partnership with Circular IQ, for companies to do their own circular assessment.
WBCSD President and CEO Peter Bakker said: "This is the first framework and tool that enables companies of all sizes and from all industries to measure their circular performance and take steps to become more circular. Equipped with a common language around circularity provided by the CTI, we urge all companies to tap into their unlocked business opportunities and evolve their circular thinking into mainstream competive business strategies."
"We are proud to be part of WBCSD's joint initiative to create the CTI, a common framework for business to measure its circular performance. We believe this is a critical step to accelerating the transition to a circular economy, and enabling companies to unlock the trillion-dollar opportunity that a circular world can bring." Gary Reader, Global Head of Clients & Markets, KPMG International. KPMG in the Netherlands was a development partner in the CTI framework.
"The transition towards a circular economy requires collaboration across value chains, industries and sectors. To ensure we're making progress in our circular aspirations, it's essential for business to speak the same language. The CTI provides companies with qualified insights into their status as they adopt circular business practices and ultimately seize circular business opportunities and address current and future linear risks facing the business." Feike Sijbesma, CEO, ROYAL DSM and chair of the Circular Metrics workstream at WBCSD.
Circular Transition Indicators Working Group
AkzoNobel, Aptar, ArcelorMittal, CRH, DSM, DOW, GREIF, IFF, KPMG, Microsoft, Michelin, Novartis, Philips, PwC, Rabobank, Sabic, Siam Cement Group Thailand, Shell, Sims Metal Management, Solvay, StoraEnso, SUEZ, Veolia, Whirlpool
Circular Transition Indicators Advisory Group
CIRAIG, Circle Economy, Cradle to Cradle Innovation Institute, Ellen MacArthur Foundation, GRI, MVO Nederland, PACE, Sitra
About WBCSD
WBCSD is a global, CEO-led organization of over 200 leading businesses working together to accelerate the transition to a sustainable world. We help make our member companies more successful and sustainable by focusing on the maximum positive impact for shareholders, the environment and societies.
Our member companies come from all business sectors and all major economies, representing a combined revenue of more than USD $8.5 trillion and 19 million employees. Our global network of almost 70 national business councils gives our members unparalleled reach across the globe. WBCSD is uniquely positioned to work with member companies along and across value chains to deliver impactful business solutions to the most challenging sustainability issues.
Together, we are the leading voice of business for sustainability: united by our vision of a world where more than 9 billion people are all living well and within the boundaries of our planet, by 2050. http://www.wbcsd.org
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SOURCE WBCSD
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