(EUROPE)

Corporates pioneering circular economy practices are calling on European policy makers to do their bit in helping to pave the way to a sustainable future.

Fourteen companies, including Coca-Cola, the IKEA Group, and GSK expressed their views in a report published by the Prince of Wales’s Corporate Leaders Group (CLG): European industry in the 21st century: New models for resource productivity.

As well as sharing insight on their circular economy methods, those interviewed put forward suggestions on how politicians can help accelerate its widespread adoption.

“This new report from the CLG explores how leading European businesses are adopting new business models that deliver greater resource productivity and reduce waste, and what policy makers need to do to accelerate this transition and maximise the potential economic benefits,” the CLG website states.

And with another report, released earlier this year, estimating the investment opportunities offered by scaling the circular economy in Europe totals €320 billion, it is no surprise big business is lobbying for European decision makers to grasp the opportunity.

“If the EU is to make the most of this opportunity it needs to shift incentives, remove obstacles, and support these initial moves. The new EU Industrial Strategy next spring is the perfect opportunity to put this transformation at the heart of the EU’s economy,” the report says.