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GENEVA/AMSTERDAM: September 02, 2019. The World Business Council for Sustainable Development (WBCSD) and Circular IQ are to co-develop an online tool in support of the Circular Transition Indicators (CTI) developed by WBCSD over the past year.

The framework, which has since been tested by 15 companies, is designed to help businesses calculate, measure and monitor their development of a circular economy as a result of primary resource extraction limits and a growing climate crisis.

Renault circle businessToday the global economy is only 9.0 percent circular, which means successful initiatives will reduce dependence on dwindling natural resources and will create value for companies and their stakeholders claims the WBCSD.

“Our experience in collecting and digitizing existing data and using this data to improve decision-making, helps businesses to act and measure results,” said Roy Vercoulen, CEO and co-founder of Circular IQ. “I am very excited with this partnership. I believe our experience will help WBCSD to create tools, to support and empower companies to initiate actions to assess their circularity and start improving it.”

Jeff Turner, vice president of Sustainability at Dutch multinational DSM commented: “As a purpose -driven company that focuses on circular solutions, it is important that we can measure our circularity through a commonly agreed framework by the business community. This tool will not only help companies individually in collecting data and performing the calculations, it also ensures consistent outcomes for any company that chooses to use it and therefore increases the robustness of the CTI framework.”

Circular IQ and WBCSD say they are "strongly aligned in the belief that our society faces major and global challenges regarding waste, pollution, resource depletion and global warming and action and smart tooling are needed to effectively tackle these problems". The CTI-framework will help companies identify opportunities to improve their circularity and effectively address these challenges, they claim.

WBCSD says its online tool will launch at next January's World Economic Forum executive jet conclave in Davos, Switzerland.

Meanwhile for a simple, yet erudite, guide to the Circular Economy and why it can help save the planet and make money, the Ellen MacArthur Foundation is a good place to start: https://www.ellenmacarthurfoundation.org/explore

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