European Commission delivers on Circular Economy Action Plan
The European Union is on a good track towards the circular economy. Three years after its adoption, the Circular Economy Action Plan can be considered fully completed. Its 54 actions have now been delivered or are being implemented.
” This report is very encouraging. It shows that Europe is on the right track in creating investment, jobs and new businesses. The future potential for sustainable growth is huge and Europe is indeed the best place for an environmentally-friendly industry to grow. This success is the result of European stakeholders and decision-makers acting together”, said the Vice-President Jyrki Katainen.
According to the findings of the report, implementing the Circular Economy Action Plan has accelerated the transition towards a circular economy in Europe, which in turn has helped the job creation, with more than four million workers in sectors relevant to the circular economy. Circularity has also opened up new business opportunities, given rise to new business models and developed new markets, domestically and outside the EU.
In 2016, circular activities such as repair, reuse or recycling generated 147 billion euros in value added while accounting for around 17.5 billion euros worth of investments.
Read the full report here.