Circular economy represents the achievement of a great transition from a linear way of producing/consuming/wasting to a global circular optimization of the flows of products, services and sustainable employment.
Expected aspects of the large impact of this transition by following the implementation of FUTURING policy recommendations are indicatively listed hereafter:
- Europe could create a total annual benefit of €1.8 trillion by 2030, twice the benefit of the current development path.
- European GDP could increase as much as 11% by 2030 and 27% by 2050, compared with 4% and 15% in current development scenario.
- The annual net material costs savings opportunity amounts in EU could reach up to 630M$
- A more secured scheme of material supply and price predictability.
- New jobs to be created in waste and recycling sectors, as well as in upgrade, repair, re-manufacturing activities.
- The transition could also reduce primary material consumption by appr. 30% by 2030 and appr. 50% by 2050.
- And, of course, also result in reducing negative impacts on soil, water and air.
- Circular Economy could reduce by almost 50% the Carbon dioxide emissions by 2030 across various sectors including construction industry, or more than 80% by 2050.
As a result of the transition from a linear to a circular scheme in economy materialized by employing advanced production technologies intelligently, by well-designed incentives and regulations, by changes in social behavior, and increased public and private investments in sustainable manufacturing, Europe will meet the vision of future EU industry. The FUTURING project helps gaining a deep understanding of the limits and drawbacks of the current linear situation, and emphasize through investigated projects and other sources, the return of experiments, cases, benchmarks, as well as the barriers and best practices to trigger this transition. Finally, it provides a set of key policy recommendations to support, in an effective way, the relevant EU industry transformation.
