What is circular economy and why is it important?
28 February 2022
The circular economy remains the topmost priority of the Slovenian EU Presidency. The implementation of the 2030 Agenda was intended to emphasize sustainable consumption and production (SDG 12) through innovation. In 2015, the UN General Assembly adopted the 2030 Agenda and established 17 Sustainable Development Goals (SDGs), consisting of 169 global targets and 232 to measure its progress and implementation.
This Agenda aims to achieve transformative changes concerning humanity, Planet, and utmost peace by circulating the economy and health. It is not just applicable to one area of the universe, that is, either plants or humans, but apart from that, it is sense to be relevant to all states and societies. The implementation of SDGs through continuous public, private sector to circulate transition could help strengthen micro-enterprises to multinational companies. It calls on businesses to apply labor rights, environmental and health standards by international standards. Businesses and Industries hold major stakeholders in UN processes related to sustainable development. These include providing essential services to employees, health, education, food, and prioritizing gender equality.
It could be done by following SDGs agreements aligning with UNGPs (Principal on business, human rights) NAPs (National actions plans). These government policies are strengthened by voluntary national reviews from the stalk holders to be aware of their follow-ups. Thus, these plans are mutually reinforcing each other. According to a 2017 survey (Price Water House Cooper’s study), 71% of businesses planned to contribute to the implementation of the SDGs.UN-Secretary General established the UN SDG Action Campaign for public engagement in SDG implementation on international levels. This Agenda lowers European costs in many sectors once implemented and regulated.
Currently, Europe is using products and resources costs Europe €7.2 trillion every year for food, mobility, and the environment. It would benefit the economics of primary-resource as much as €0.6 trillion per year by 2030. Europe needs to build blocks to circulate and share this Agenda. These are quests for learning, research, opportunities, creating value-preserving materials, mobilizing circular business in all sectors, private or public, and developing new governance for opportunities that are more significant and competitiveness.