Some 86% of consumers believe that the circular economy should be a ‘priority’ for businesses and government, according to a new report by the British Standards Institution (BSI) in collaboration with the Cambridge Institute for Sustainability Leadership (CISL).
The report, The Tipping Point: Building Trust in the Circular Economy, examines the role of trust in accelerating the transition to a circular economy, and incorporates a global survey and a number of stakeholder interviews.
The research ‘aims to understand and address barriers to trust, drive behavioural change, and inform client needs regarding circular economic models’, as the authors put it.
Linear economy
As the report notes, the traditional linear economy – involving resource extraction, production, short-term use, and disposal – means that global waste generation is on an ‘upward trajectory’, with the circular economy representing a ‘systemic shift’ to a more restorative, regenerative mindset.
While the circular economy offers clear economic and environmental benefits, its widespread adoption hinges on societal trust, given that the transition to circular models requires significant shifts for both businesses and consumers, the researchers said.
They suggest that a societal tipping point toward circularity will only occur once sustainability becomes the norm, and is both appealing as a business model and sought after by consumers.
‘Barriers to circularity’
“Change will not come overnight,” commented Susan Taylor Martin, chief executive, BSI. “What is clear is that barriers to circularity persist worldwide. Companies grapple with ensuring product longevity amid operational complexity and supplier challenges, while striving to balance the costs of investing in new processes or reshaping supply chains. And although consumers display high awareness of the benefits of sustainability, there is still a gap between ambition and action.
“Our findings highlight a critical consumer challenge: while most recognise the need to move away from our throw-away culture, they worry this means they will be sacrificing safety, or reliability. For example, 56% say concern about quality is a barrier. These figures underscore that circular products must match or exceed the performance of traditional options, to build trust and nudge behaviour.”
The report was authored by British Standards Institution, Jie Zhou, CISL, Lisa Rossi, Research Associate, IfM, Yasmin Revell, CISL, and featured interviews with representatives from Velux, Free Pack Net, The Surpluss, Ball, Limetrack, Computer Aid, Recoup, Decathlon, The Royal Mint and more. Read more here.
