POWER TALK SUSTAINABLE PROFITS DEC-JAN 20-21

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Mr. Joe PhelanIndia DirectorWorld Business Council forSustainable DevelopmentOur current economic systems are based on linear value chains that depend on a continuous and increasing extraction ofraw materials. Over 92 billion tonnes of raw materials required to fuel our economies are extracted from earth, processed,used, and then discarded. Currently, only 9 billion tonnes of raw material—an equivalent of 9% of total material extracted iscycled back into the economy. This is massively inefficient, and impossible to sustain..Our linear systems have caused significant impacts onbiodiversity, ecosystem services, and climate. A total of 62%of global greenhouse gas emissions are emitted duringmaterial extraction and processing, and the trend isincreasing. To reach the 1.5°C target of the Paris Agreement,we need to ensure net zero emissions by 2050. To reducecarbon emissions and enable sustainable production cycles,we need to act with urgency and move away from thetraditional “take-make-waste” economic model toward onethat is regenerative by design. Despite increasing awarenessof circularity as a concept, the levels of circularity in theeconomy are falling - dropping by 0.25% points over the lasttwo yearsGOAL is to retain as much value as possible fromresources, products, parts, and materials to create a systemthat allows for long life, optimal reuse, refurbishment,remanufacturing, and recycling: a Circular Economy.Circular economy can deliverSwachh BharatImplementing circular economy principles is crucial for acountry like India from a development perspective as well as todeliver Swachh Bharat. The Government of India has put a bigfocus on resource efficiency to support the country’sdevelopmentPower Talk l Sustainable Profits
Business can delivercircularityThe World Business Council for Sustainable Development(WBCSD) is a CEO-led coalition of over 200 leadingmultinational businesses across multiple sectors, includingsome of India's major corporate houses, who worktogether to accelerate the transition to a more sustainableworld. Together, we develop transformational businesssolutions to the most challenging issues, delivering resultsthat no single company could achieve alone. This aspect ofcollaboration and collective action is central to the workwe do.Businesses have a responsibility to act, and opportunities indoing so. To support the circular change, WBCSD proposes thatcompanies transform their value chains into true value cyclesthrough five steps:and economic growth. A circular economy development pathin India has the potential to create an estimated value of INR14 lakh crore (US$ 218 billion) in 2030 and INR 40 lakh crore(US$ 624 billion) in 2050 compared with the currentscenario. Additionally, it has the potential to significantlylower GHG emissions and help India deliver on the Parisagreement.Adopting circular economy principles can help tackle theproblem of waste, especially plastic waste in India. Indiagenerates between 25,000 and 30,000 tonnes of plasticwaste daily and, while recycling is higher than the globalaverage, about 10,500 thousand tonnes of that wasteremains uncollected, reaching our streets and rivers. Withthe demand for plastics expected to rise in the next 20 years,this problem calls for urgent intervention. Additionally,growing societal pressure to adopt circular economyprinciples, and policy frameworks such as the ExtendedProducer Responsibility (EPR) puts the responsibility onproducers and brand owners to mitigate plastic waste.• Design and innovation: Apply circular ideas or technologieswhen developing new products• Growing, development and sourcing: Use innovativetechnologies to develop materials and product ingredientswith less resources, energy, and chemicals.• Processing and production: Enable production of goodswith fewer resources, lower emissions and based onrenewable sources.• Use: Allow increasing the life span of a product, repurposeused products and move away from traditional ownershipto service models.• Recycling and recovery: Repurpose waste from oneproduct to feed into the production of another fullyfunctional product of similar or higher value.Moreover, the COVID-19 pandemic presents opportunitiesfor the circular economy. As global supply chains are underpressure, sourcing locally produced renewable materials asopposed to globally sourced non-renewable materials hasbecome more favourable, and the pressure to “buildforward better” is incentivizing companies to make changes.Increasingly, businesses across the world are taking stepstowards sustainability and applying circular economyprinciples to their operations.WBCSD supports its member companies in taking action tofurther the circular economy, within their businesses and inpartnership with others in several areas. Our CircularEconomy Program offers three projects from the crossindustryplatform of Factor10 to the value -chain specificwork on plastics and packaging and the Circular ElectronicsPartnership. This work complements other businessinitiatives such as the Alliance to End Plastic Waste, PlasticsPact and the Global Plastic Action Partnership.Getting startedThe best way for companies to begin is to understand howcircular their business is today, and where the greatestopportunities for value recovery lie.www.powertalkwitharchanna.com 31
Page 1: 8 AWARD WINNINGSUSTANABILITY DRIVEN
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Page 6 and 7: CONTENT05EditorialArchanna Gaarg10D
Page 8 and 9: mpactSDG AMBITIONSDG PIONEERSCEO WA
Page 10 and 11: A sustainable business is basically
Page 12 and 13: Although due to improved medical ca
Page 14: SHABNAMSIDDIQUICommitted to Governa
Page 17 and 18: and subsequent lockdown has driven
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Page 21 and 22: An SDG frameworkpossible short-term
Page 23 and 24: FOLLOW USPOWER TALK WITH ARCHANNAJO
Page 25 and 26: cooking. As a result, our planet is
Page 27 and 28: DIVYA HEDGE - CEO, The Integrated P
Page 29: NITIKA SONKHIYA, MYONEARTHNitika So
Page 33 and 34: A real passion for listening andsup
Page 35 and 36: Sustainable marketing in healthcare
Page 37 and 38: RE to Everyone: Hello I am RE!RE to
Page 39 and 40: SPECIAL EDITIONDEC JAN 2020Just wor
Page 41 and 42: DISCLAIMERPower Talk is an e-magazi

POWER TALK SUSTAINABLE PROFITS DEC-JAN 20-21

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