At Veolia, we know the world is facing an enormous challenge. Demand for raw materials has seen exponential growth with a fast-expanding global population and rising standards of living. Yet the resources on which we all rely are depleting fast.
When Veolia commissioned this report, we were convinced that there were gains to be made from Ireland’s businesses thinking circular. However, the findings have far exceeded our expectations of the contribution that the circular economy could make in terms of GDP and employment.
€1.65 billion and 5,000 jobs, with particular opportunities in the plastic sector, makes a compelling business case for change. Veolia too is poised for growth as we expect to create up to 300 jobs over the next five years.
How the circular economy will boost GDP
The circular economy can contribute €1.65 billion to GDP and create 5,000 new jobs.
The circular economy is the industrial revolution for a new generation. A business model that enables the economy to grow, while minimising the amount of virgin resources that are extracted. But the focus is no longer just environmental, it’s all about the bottom line. The circular economy saves resources and saves money. A catalyst for ‘free growth’ that requires no Government or external funding, just a change of mindset.
An Imperial College London report, commissioned on our behalf, outlines the business case for adopting a circular economy. The results demonstrate that using resources in a closed loop system has the potential to contribute €1.65 billion (0.7%) of GDP and create 5,000 new jobs in Ireland.