World Sustainable Business Forum partners with Global Carbon Council to advance Circular Economy

This past Friday, a landmark agreement to champion a Global Circular Economy by the Global Carbon Council (GCC) and the World Sustainable Business Forum (WSBF), including its Foundation.
This partnership commits both entities to a worldwide initiative to bolster the capability of varied institutions – from government agencies to major global brands – to embrace circular economy methodologies.

Central to their efforts will be the integration of market tools offered by GCC, assisting WSBF's Global Circular Economy stakeholders. That will generate top-tier carbon and plastic credits, helping corporations fulfill their environmental commitments harmoniously with the Paris Agreement's objectives.
The UN Development Programme (UNDP) has underscored that 70% of global GHG emissions stem from material extraction and use. Astoundingly, by integrating circular economy tactics, it's possible to cut GHG emissions by 40-50% by 2050. Yet, the rate of material extraction is on an upward trend, with circularity diminishing, as reflected in a dip from 9.1% in 2018 to 7.2% in 2023.

The UNDP further emphasizes that by optimizing critical industrial materials like cement, steel, plastics, and aluminum, we could see a 40% reduction in global GHG emissions by 2050.

The International Union for Conservation of Nature (IUCN) has highlighted the grim fact that our oceans receive at least 14 million tons of plastic annually, with plastic debris now constituting 80% of all marine litter.

Meanwhile, Accenture has projected the potential of the Circular Economy to add a staggering $4.5 trillion to the Economy by 2030 and an immense $25 trillion by 2050. The collaboration between GCC and WSBF is poised to supercharge the global circular Economy, focusing on diminishing plastic pollution, promoting sustainability, and fast-tracking decarbonization. The partnership will also pave the way for combined research, joint advocacy, and the exchange of expertise.

Dr. Yousef Alhorr, the visionary behind GCC, expressed his enthusiasm about the collaboration with WSBF, emphasizing the monumental potential of their combined influence in ushering in a new era of economic growth rooted in environmental stewardship.

Echoing this sentiment, Merzi Sodawaterwala, the founding figure of WSBF and its associated ventures, accentuated the pressing need to shift towards a sustainable, circular carbon economy – emphasizing its significance economically and morally.

For the uninitiated, the circular Economy revolves around a production-consumption paradigm where waste is minimized through reuse and recycling. The International Labour Organisation projects embracing this model could generate 6 million global jobs by 2030.

Ranjit Baxi, a pivotal figure at WSBF and the mind behind Global Recycling Day spoke passionately about the combined vision of GCC and WSBF, visualizing a future where waste is obsolete and every resource is maximized.

Kishor Rajhansa, GCC's COO, highlighted the partnership's commitment to offering organizations tangible, practical solutions for impactful circular economy ventures, resulting in the acquisition of essential carbon and plastic credits.