Wales and the Circular Economy: Favourable system conditions and economic opportunities
A new Ellen MacArthur Foundation report, commissioned by WRAP on behalf of the Welsh government, identifies the benefits of the circular economy for Wales and how to unlock them.
As a result of its continued pursuit of recycling and resource-efficient strategies, Wales is ideally placed to take the next step and “upgrade” to the circular economy.
Key findings
Initial analysis suggests that material cost savings of up to £2.0bn a year could be achieved by transitioning to circular processes in an advanced scenario.
On top of net financial gains, moving towards a circular economy through an inclusive (business, public sector, education) and clearly defined roadmap can reduce Wales’s dependency on raw materials, have a positive impact on the jobs market and increase the value and productivity of agricultural systems.
Capitalising on a fertile ground when it comes to innovative and forward-looking initiatives, which has given it an enviable position in the sphere of sustainable development, Wales can secure a leading position in Europe’s resource efficient strategic agenda going forward.
The opportunity now is for Wales to kick start a new era of resilient, Wales-centric growth that provides meaningful employment for its citizens and innovation for its industries.
