The European Union (EU) has released its first metric to measure how well companies are doing in offering closed loop products.
The free EU Circularity Indicators Methodology is a standard for companies to follow to move from a linear to a circular economy (CE).
The indicators are intended to be used in product design, procurement decisions and internal reporting to promote resource efficiency, building on existing legislation such as the landfill directive and WEEE regulations.
The EU-funded metric has been developed with the Ellen MacArthur Foundation and Granta Design with support from Anthesis Group.
Strategy adviser at sustainability consultancy, Anthesis Group, Nicky Chambers said: “A lot of companies don’t really know how to implement the circular economy and the metric underpins one part of it: the transition phase from a linear to a circular economy.
“We then help companies identify the data and leverage points and score those to give a level of circularity.”
No companies have publicly stated they are using the metric, which is free to use, but the consultancy is talking with a few they believe it would benefit.
As reported by MRW, a ‘more ambitious’ CE package is due to be released this autumn following its initial withdrawal last December. The metric is intended to fit in with the new proposals.
“The old CE package was very much waste management and disposal whereas we’re hoping the new one is much broader, bringing in other parts of the circle like product design. This metric is a part of that,” said Chambers.
The sustainability consultancy is also sitting as a stakeholder on the newly created British Standards Institute to form best practice examples of businesses incorporating the circular economy. Examples such as those currently on the EMF website, could contribute to a standard which is auditable.