November 24th, 2020
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Welcome to 'Circularity in Australian Business 2020', the first edition of annual research that will be conducted into the state of circular economy thinking within the Australian business community.
This report focuses on examining current levels of understanding and implementation, and perceived benefits and barriers to adopting circular economy principles. Business decision makers in C-suite, senior management and Board positions contributed to this research, representing companies of different sizes from a range of industries.
88% of business leaders believe that the circular economy will be important at some level to the future of their business.
There is varying knowledge of what the circular economy really is. Although many respondents thought they were knowledgeable about what the circular economy represents, less than half were able to identify a correct definition.
The main barrier identified was 'financial issues or not having the capital required', the second highest being 'a lack of information on how to implement circular economy principles'.
The business decision makers interviewed unanimously agreed that Australia has barely begun to embrace circular economy principles.
Australian Circular Economy Hub Manager
Planet Ark - Chief Sustainability Advisor and Executive Director
CEO and Executive Director
Planet Ark - Sustainability and Science Consultant