Indicators for Measuring and Reporting Circular Economy
This factsheet summarises the conclusions from Business in the Community’s (BITC) research evaluating indicators for effective measurement and reporting of circular economy in business.
While environment, social, governance (ESG) reporting is becoming mainstream practice, there is not yet a clear approach for business to measure and report circular economy practices. Most businesses report circular economy in terms of waste and recycling rates, which can be counterproductive as it does not reflect actions taken higher up the waste hierarchy. There is a selection of circular economy metric frameworks, but businesses tend to either be unaware of these, or are overwhelmed by their complexity. The lack of common indicators ultimately disadvantages businesses as ethical and sustainability issues remain a key driver for consumers.
BITC has undertaken research with its members in reviewing circular economy measurement and reporting frameworks. The overarching aim is to begin conversations on what ‘good’ looks like for circular economy reporting and to provide a set of indicators, derived from the frameworks, that we recommend members adopt. This factsheet summarises the findings of our Measuring and Reporting Circular Economy in Business report.
About Business in the Community’s circular economy campaign
BITC is innovating towards a circular economy to sustain and repair the planet. To cut carbon emissions and reduce pressure on nature, businesses must embrace circular economy solutions.
We work with businesses along a set of key-value chains to solve problems collaboratively and enable circularity. By 2023 our ambition is to equip 60 businesses with the skills and knowledge to adopt circular principles in their procurement, increasing the demand for circular solutions.
Our circular economy campaign is steered by our Circular Economy Taskforce. This is a group of chief executive officers (CEOs) and other senior executives delivering a high-impact programme bringing the circular economy to life.
If you are a BITC member and you would like to join the Taskforce and help steer our work, speak to your Relationship Manager. Log in to MyBITC to find their contact details if you do not have them.
If you are not a BITC member contact Maya de Souza, Circular Economy Campaign Director at BITC to learn more.
WE CAN HELP YOU EMBED CIRCULAR ECONOMY PRINCIPLES INTO YOUR ORGANISATION
