What will going circular mean for the Australian economy?
The Australian branch of global accounting and consultancy firm PwC recently quantified the benefits of shifting to a circular model in their new report — Building a more circular Australia - The opportunity of transitioning to a circular economy. By measuring economic and environmental savings across four key sectors including the built environment, mobility, community and industry, the report found an Australian circular economy could generate just under $2 trillion and save 165 million tonnes of CO2 per year by 2040.
In this 30-minute webinar, PwC's Australian Associate Director Dr Lucas Carmody breaks down the report's findings and shares strategies for change.
You will learn:
The projected numbers for Australia — the economic and environmental savings the circular economy could generate between 2021 and 2040
The opportunities and benefits of going circular for the built environment, mobility, community and industry
Circular strategies for government and industry
Dr Lucas Carmody is an urban economist who works as an Associate Director for PwC Australia. Lucas recently returned from a two-year secondment with PwC Netherlands where he was helping lead PwC's Circular Economy advisory team. He has also just finished a project advising the Australian Department of Agriculture, Water and the Environment, identifying incentives to support Australia's transition to a more circular economy and increase use of recycled materials across supply chains.
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The finance sector has a critical role to play as a market enabler for businesses to transition to circularity, and Circular markets to achieve scale.
The construction industry has a significant impact on the environment, accounting for almost half of global energy use, about a third of greenhouse gas emissions and about a tenth of our water use. Embodied carbon emissions in the construction sector account for over 23 percent of total greenhouse gas emissions in Australia. With a growing and increasingly urbanised population, there are significant opportunities in this sector to innovate.
This section provides links to some of the policies within Australia that are designed to aid the shift to a circular economy. The ACE Hub Circular Economy diagram provides a key to some of the pathways where policies can assist in facilitating change (reuse, repair, recycling, design, energy recovery).