Awareness and Importance of Circular Economy is Growing, UPS/GreenBiz Study Finds

As more companies seek ways to assess holistic impact across the value chain, the concept of circular economy is quickly becoming the next big thing in sustainability. Now more than ever, companies are starting to take notice and are striving to close the loop, including UPS*, which is helping to bridge the gap by optimizing smarter, more sustainable logistics.

Last week, UPS and GreenBiz launched a 2016 study titled The Growth of the Circular Economy, which captures insights from sustainability executives about perceptions of the circular economy, including key business drivers, barriers and opportunities. Here are five major takeaways from the study:

• CIRCULAR IS HERE TO STAY: The circular economy is projected to continue to gain traction in the coming years. The majority of companies (86%) believe circular economy principles will be important to their organization in two years, a vast difference from only 47 percent two years ago.
• UNDERSTANDING AND IMPLEMENTATION IS GROWING:  Ninety percent of companies feel they have a clear definition of "circular economy" and more than half (58%) state their organization is implementing circular economy principles. Yet despite this prevalence, few companies are currently standing out as leaders. Among the few that do stand out are Interface, which has been vocal regarding its sustainability focus, and Patagonia, which has made headlines with its notable "Don't Buy This Jacket" campaign and CSR-minded policies.  

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