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Decouple consumption and production from natural resource use and innovate to reduce waste and pollution.
To create a circular economy, we need to drive profound changes in how we design, produce and consume products and services; to eliminate the idea of ‘waste’ and recognise that everything has value. Whist industrial development has generated unprecedented levels of planetary growth, the linear ‘take, make, dispose’ economic model relies on large quantities of cheap, easily accessible materials and energy. This contributes to the rapid depletion of natural resources, economic losses and structural waste in the value chains..
A fully circular economy is possible. Achieving it would unlock US$4.5 trillion of additional economic growth, providing businesses with incentives and investments to transform their production process and consumers with access to innovative products and services. This will enable companies and consumers to become key drivers of circular transformation.
SDG 12 (responsible consumption and production) specifically addresses the need to reduce our ecological footprint by changing the way we produce and consume goods. Sustainable consumption and production practices will simultaneously contribute to the achievement of many other SDGs. A more circular economy will have an important impact on the following SDGs:
Aviva is one of the world’s largest insurance and asset management companies, its history tracing back more than 300 years. It has operations in 16 markets around the world, but through its investment portfolio, Aviva’s reach extends to a broader and larger group of consumers. The company is a LEAD member of the Global Compact; a founding member of both the UN Principles of Responsible Investment and the UN Sustainable Stock Exchange Initiative. It is also a frontrunner in responsible investments, using its influence to support more sustainable business and ultimately a more sustainable economy and society. Aviva is an active contributor and user of different corporate sustainability benchmarks, including a founding member of the Corporate Human Rights Benchmark. Aviva’s CEO Mark Wilson is a member of the Business and Sustainable Development Commission (BSDC) and is personally committed to driving forward the sustainable development agenda and the creation of the WBA.
The Business & Sustainable Development Commission (BSDC) aims to make a powerful business case for achieving a sustainable, inclusive economy. Its flagship report Better Business, Better World, launched in January 2017, maps the economic prize for companies that align with the SDGs, and shows how to achieve them. The report includes the creation of SDGs benchmarks as one of the key recommendations. The Business Commission aims to make a powerful business case for achieving a sustainable and inclusive economy, if the UN Sustainable Development Goals are achieved. In its flagship report, Better Business, Better World, the Commission describes how business can contribute to delivering these goals. Chaired by Lord Mark Malloch-Brown, the Commission include 37 leaders from business, finance, civil society, labour, and international organisations from around the world.p>
Index Initiative is a centre of expertise in benchmarking corporate performance against stakeholder expectations. It seeks to propel the use of benchmarks to engage and bring purpose and clarity on the role of companies in contributing to the SDGs closest to their core business. A non-profit based in Amsterdam, The Netherlands, Index Initiative’s research and benchmarks are free and accessible to all. Index Initiative will conduct the global consultation on the World Benchmarking Alliance.
The United Nations Foundation builds public-private partnerships to address the world’s most pressing problems, and broadens support for the United Nations through advocacy and public outreach. Through innovative campaigns and initiatives, the Foundation connects people, ideas, and resources to help the UN solve global problems. The Foundation was created in 1998 as a U.S. public charity by entrepreneur and philanthropist Ted Turner and now is supported by philanthropic, corporate, government, and individual donors.