2025 Sustainability Goal: Advancing a Circular Economy
We will advance a circular economy by delivering solutions to close the resource loops in key markets.
Many of our planet’s natural resources are increasingly under pressure from over- or badly managed consumption. In addition, the global population is increasing and standards of living are trending upwards. More than ever, it’s clear we need to change our behavior and transition to a level of sustainable consumption.
Right now, we live in a primarily linear economy where the goods we use every day are manufactured from raw materials, sold, used and then discarded as waste. Dow is engaged in the transition from a linear economy to one that redesigns, recycles, reuses and remanufactures to keep materials at their highest value use for as long as possible. As a result, we’ll preserve our resources in a “circular economy” making the most of our natural resources. Applying the principles of a circular economy will allow us to optimize the use and reuse of resources and ultimately reduce the amount of waste that goes into landfills.
Transitioning to a circular economy is not only vital to the preservation and protection of our planet’s natural resources, but also to the success of businesses at Dow. According to the Ellen MacArthur Foundation, circular supply chains that increase the rate of recycling, reuse and remanufacturing could generate more than $1 trillion a year by 2025. Because of our leadership position in manufacturing and materials technology, as well as our global reach across many sectors, we have a very strong opportunity to take a leading role in supporting the development and implementation of the circular economy, taking into account a product’s lifecycle – from creation to use to disposal – in everything we do and create.
Measuring Our Progress
Dow will collaborate to implement six major projects that deliver solutions and advance the circular economy. Our key performance indicator is the number of projects implemented.
- Dow will partner with other industry leaders, nonprofit organizations and governments to deliver six major circular economy projects over the next 10 years.
- Dow will partner with other industry leaders, nonprofit organizations and governments to deliver three major projects that deliver solutions and provide a blueprint for the implementation of principles of the circular economy by 2020.
- By 2025, Dow, working with partners, will implement three additional projects located at Dow manufacturing sites or directly impacting Dow businesses.
We are already taking great strides to help facilitate the world’s transition to a circular economy, including a few of the following key initiatives and technologies that convert items formerly thought of as “waste” into new products and services: