Latest news with #circularEconomy
Zawya
11 hours ago
- Business
- Zawya
How embracing the circular economy can be a game-changer for businesses?
Circular economy offers businesses an opportunity to break through the volatile economy as global uncertainty continues to impact businesses economically, environmentally and socially. The sustainability conversation is no longer about lofty ideals: It's about survival, resilience and relevance. There is more than enough policy, strategy, and information in place to guide businesses toward sustainable practices. The African Development Bank has established the Africa Circular Economy Facility (ACEF) to foster Africa's transformation by adopting a circular economy; the African Circular Economy Alliance (ACEA) based at the UN hosted COP23 by South Africa, Nigeria and Rwanda seeks to establish a collaboration of various initiatives; and the United Nations in its 2030 Agenda for Sustainable Development and the Sustainable Development Goals laid out three interconnected pillars - environmental, social responsibility and economic performance, to ensure that sustainability initiatives are financially viable and support economic growth without compromising environmental and social goals. What's required now is the collective commitment from companies to support circular economy initiatives and get government departments to accept refurbished options when spending public money. Electronic waste Globally, e-waste is growing rapidly; around 50 million tonnes are generated annually, and a significant amount of that waste is shipped to Africa and Asia for recycling. According to the EPR Waste Association of South Africa (eWASA), South Africans produce about 6.2kg of electronic waste per person per year. That's 360,000 tonnes, equivalent to 432 laptops per minute. Of that total, around 12% is formally recycled, and the vast majority goes straight to landfills, where it can leach harmful chemicals like lead, arsenic, mercury, flame retardants, and certain phthalates into the soil and groundwater, posing a significant risk to human and environmental health. As global and local regulations tighten, businesses that fail to manage their resource consumption and waste effectively could face reputational damage, compliance penalties, and exclusion from supply chains focused on ESG procurement, posing both an environmental and a business risk. IBIS World reports that Europe's consumer electronics repair market size has reached €3.1bn as of 2024. Revenue volatility in this market is low, and revenue has grown at a CAGR of 7.2 % from 2019 to 2024. This indicates confidence in the activity and acceptance of the proposition not only from an environmental perspective but also from a financial and social perspective. In fact, IDC, in their Refurbished Devices Multi Client Study (2024), reports that 74% of those surveyed already use or are planning to use refurbished printing devices in the next two years. The drivers make for interesting reading: - Cost motivates only 56% of respondents. - The desire for sustainability at 40% and policies for sustainability at 39% are strong indicators that considerations are wider than financial;. - Post-decision financial incentives, such as rebates or discounts, are driving consideration in 24% of respondents. - About 24% also listen to recommendations from peers and other influences. A practical, scalable path An important fact to consider is that circular print solutions are only as good as the standards behind them. Businesses must ensure that refurbished devices meet manufacturer specifications, include relevant certifications, and integrate seamlessly into modern IT environments. The proposition doesn't just stop at the equipment. Xerox CEO Steve Bandrowczak pointed out to clients – at a business breakfast on 1 April 2025 in Johannesburg, South Africa – that more than 65% of service calls into the global contact centre were resolved remotely, negating the need for numerous car journeys and minimising pollution. If a technician needs to be dispatched to service a device, they depart already knowing from data provided by AI-driven remote diagnostics what the issue is and can then carry the necessary parts with them, making a return to fix far less likely, again driving down the number of journeys. If further support is needed, the technician can access an augmented reality session through tools that allow them to get support from experts as if they were in the room, reducing the potential for unnecessary repairs and the consumption of spare parts. This approach contributes to the overall sustainability of a refurbished equipment experience and reduces risks to adoption. As South Africa faces increasing pressure to deliver on ESG targets, manage resource scarcity, and enable inclusive growth, circular economy initiatives offer a practical, scalable path forward. As the ACEA states, by 2030, global circular economy efforts could generate $4.5trn in economic benefits. That is a number that South African businesses cannot afford to ignore. The technology is here. The expertise is here. Now all we need is the effort to embrace the circular economy.
Yahoo
a day ago
- Business
- Yahoo
Liquidity Services Appoints Paul J. Hennessy to its Board of Directors
BETHESDA, Md., June 19, 2025 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT; a leading global commerce company powering the circular economy, today announced that Paul J. Hennessy has been appointed to the company's board of directors (the 'Board') effective October 1, 2025. Mr. Hennessy will also serve on the Corporate Governance and Nominating Committee and the Audit Committee of the Board. "We are thrilled to welcome Paul to our Board of Directors," said Bill Angrick, Chairman and CEO of Liquidity Services. "Paul's deep knowledge and extensive experience building technology enabled marketplaces in both business and consumer channels on a global scale will be instrumental as we continue to expand our market presence, enhance our service offerings, and pursue emerging opportunities to drive long-term growth." Mr. Hennessy is an experienced CEO with over 30 years of leadership experience focused on growing and optimizing innovative, market leading technology and marketplace businesses. He has served as the Chief Executive Officer of Shutterstock, Inc. (NYSE: SSTK) since July 2022 and as a member of Shutterstock's board of directors since April 2015. From June 2016 to May 2022, Mr. Hennessy served as Chief Executive Officer and member of the board of directors of Vroom, Inc., a provider of AI-powered analytics, financing and digital services for automotive dealers and consumers of pre-owned vehicles. Prior to joining Vroom, from April 2015 through June 2016, Mr. Hennessy served as Chief Executive Officer of a pioneer in online travel and travel related reservation and search services. From November 2011 to March 2015, Mr. Hennessy served as Chief Marketing Officer of an online booking accommodations provider. From July 2006 to October 2011, Mr. Hennessy was Chief Distribution Officer of Mr. Hennessy holds a B.S. in marketing management from Dominican College and an M.B.A. from Long Island University. "I am honored to join the Board of Liquidity Services," said Hennessy. "I look forward to working with the leadership team to advance the company's strategic priorities and contribute to its ongoing success and innovation as the market leader powering the circular economy." About Liquidity Services Liquidity Services (NASDAQ: LQDT) operates the world's largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than five million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills. Contact:Investor Relationsinvestorrelations@ while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
- Business
- Yahoo
Why enterprises increasingly adopt MDaaS
As businesses navigate the complexities of modern work environments, demand for mobile devices as a service (MDaaS) is growing, particularly among multinational corporations (MNCs) and larger enterprises. The subscription-based model allows organisations to manage their mobile device estates more efficiently while reducing capital expenditures. This flexibility is especially attractive to companies with diverse operational needs, as it enables them to tailor solutions to specific requirements without incurring unnecessary costs. One of the primary drivers of MDaaS adoption is sustainability. Enterprises are increasingly prioritising environmentally friendly practices in their technology choices, seeking solutions that align with their corporate social responsibility goals. The report highlights that many organisations now expect their technology providers to offer secure recycling and refurbishment options for devices. BT's Device Lifecycle Management service exemplifies this trend by promoting sustainable practices that ensure devices are reused or recycled, reflecting a growing commitment to the circular economy. John Marcus, GlobalData's lead analyst, emphasises the importance of sustainability in the MDaaS landscape. "Sustainability is no longer a luxury; it's a necessity," he states. "Organisations are transitioning from CapEx to OpEx models to access the circular economy while minimising resource consumption." This shift not only helps companies meet their environmental goals but also enhances their overall operational efficiency. The report also highlights the rising demand for modular and customisable offerings within the MDaaS market. Enterprises have learned from experience that one-size-fits-all approaches often lead to inefficiencies and employee dissatisfaction. Providers like Telefónica and Vodafone are responding to this need by offering tailored solutions that allow businesses to select specific features based on their unique operational requirements. This customisation is particularly appealing to larger enterprises, as it enables them to sidestep the pitfalls of traditional procurement methods while enhancing employee satisfaction. Looking ahead, the integration of advanced technologies such as AI and automation is expected to drive further innovation in the MDaaS landscape. Providers anticipate that AI-driven tools will enhance support, streamline logistics, and improve overall service delivery. As organisations increasingly rely on mobile devices for their operations, the need for robust security solutions also becomes paramount. While many providers offer security features as part of their MDaaS packages, there is still significant room for improvement in integrating these solutions seamlessly into the overall service offering. The report underscores that enhanced logistics and support services are critical components of MDaaS that drive ongoing customer demand. Organisations require reliable logistics to ensure device availability and continuity, particularly in multinational operations. Comprehensive management of the device lifecycle, from deployment to disposal, allows businesses to focus on their core operations without the burden of managing devices in-house. GlobalData expects that MDaaS will continue to account for a growing portion of enterprise mobile usage, with providers likely to broaden their offerings to include a wider range of devices, such as laptops and wearables. This diversification will cater to the evolving needs of enterprises as they adapt to evolving hybrid work models and increasingly complex operational environments. "Why enterprises increasingly adopt MDaaS" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Harvard Business Review
2 days ago
- Business
- Harvard Business Review
How Circularity Can Be a Strategic Response to Tariffs
Globalization is fracturing. Tariffs, trade wars, resource nationalism, and supply chain shocks are no longer rare disruptions—they're the new normal. The past few weeks alone have seen swings in U.S. tariffs and China's shifting stance on rare earth minerals, underscoring a broader trend: global commerce is increasingly volatile, redrawn by geopolitics, climate, and conflict. Trade fracturing goes beyond tariffs, however. Governments are increasingly imposing policies to favor domestic sourcing, to restrict access to critical materials, and to steer trade towards geopolitical allies—all of which companies need to navigate. From Europe's carbon-linked import levies to Indonesia's nickel ore export ban, even recycling laws—over 30 related to critical minerals enacted globally since 2022—look beyond environmental outcomes to advance industrial and political goals. Extended Producer Responsibility (EPR) schemes, for instance, reward companies that keep value creation within national or regional borders. Traditional responses—like dual sourcing and near-shoring—still matter. But an underused lever is the circular economy: reusing, repairing, remanufacturing, and recycling to reduce dependence on volatile global supply chains. Often dismissed as a sustainability play, circularity—done well—is a strategic hedge. It cuts material imports, opens new revenue streams, and builds customer loyalty. And it's a strategy that many firms have quietly embraced to survive and thrive. Take British Sugar, the UK's largest sugar producer. By turning byproducts from sugar production into revenue streams—from animal feed to soil conditioners—the company reduced waste and boosted margins. This shift did not begin as a sustainability goal, but rather a strategic response to changing market dynamics and price volatility. That kind of systems thinking—designing for autonomy, flexibility, and resource efficiency—is now critical for building a durable competitive advantage. Here are four circular strategies to build resilience. Secure Resources Locally Trade barriers and concentrated supply chains make it harder and costlier to access critical inputs. For example, rare earth elements and other strategic minerals foundational to the modern economy are increasingly subject to strategic controls including by the U.S., China, the European Union, and Japan. Circularity helps mitigate this exposure. Urban mining—recovering materials from waste streams—helps companies reduce reliance on volatile import streams, turning waste into tomorrow's resources. Electronic waste alone contains $91 billion in metals. With the right innovations, such closed-loop strategies complement domestic production, while also cutting greenhouse gas emissions by 80%. Companies like Umicore, Rolls-Royce and Cyclic Materials are already capitalizing on extracting critical materials from end-of-life items. Circularity also strengthens the resilience of the clean energy transition. While renewables boosts energy security by reducing reliance on fossil fuel imports, scaling renewable energy also increases exposure of countries to mineral import risks. Solar panel circularity alone could unlock an $80 billion market, helping to secure benefits of decarbonization without trading one dependency for another. Unlock Cost-Competitive Secondary Markets When tariffs drive up costs of imports, companies typically must either pass costs to customers or absorb a margin hit. Circularity offers a third path: the resale of repaired, refurbished, or remanufactured goods. If reprocessing is done locally or in trade-aligned regions, secondary offerings can sidestep tariffs while undercutting new imports on price. Shares of secondhand retailers jumped following the recent U.S. tariff announcement, reflecting anticipation of growing consumer demand. Beyond a pricing advantage, secondary market offerings also extend asset lifecycles and capture value that would otherwise be lost. Companies like IKEA see circular material flows, combined with regional supply chains, as ways to build resilience and cost efficiency ways, if done at scale. Diversify Revenue Through Services Businesses reliant on one-time sales of imported products are vulnerable when trade disruptions delay shipments or inflate costs. Circular service models—subscription, product-as-a-service, or performance-based contracts—shift the focus from selling new units to maximizing revenue from existing assets. Take Swapfiets, which provides bicycles through a monthly subscription, inclusive of repair and maintenance. By designing their bicycles for durability, repairability, and use of recycled materials—core principles of circular design—Swapfiets' bicycles last longer and can be reused across multiple customers, generating more recurring revenue from the same assets. Separately, in electronics, product-as-a-service models could unlock $566 billion in savings globally, while cutting emissions by nearly 15%. Deepen Customer and Supplier Relationships Circularity naturally fosters stronger partnerships. Product-as-a-service and take-back programs transform one-off sales into longer-term engagements and predictable revenue, generate valuable usage data, and incentivize better product design. In uncertain times, deepening trust and loyalty with customers and suppliers can become an advantage. Consider John Deere. The company leases farm equipment embedded with IoT technology that tracks real-time field performance. This data helps refine product designs, reduce material use with modular components, and secures multi-year service relationships with customers. Success required tighter collaboration with suppliers to enable circular design and manage reverse logistics, fostering more integrated, resilient partnerships. . . . If circularity is so advantageous, particularly amidst the rising tide of geopolitical forces, why is adoption limited? Internally, many companies still face misaligned incentives—P&Ls reward unit sales over lifecycle value, while reverse logistics systems remain underdeveloped. Executives may hesitate to back long-payback investments without immediate business cases. Externally, regulatory complexity and classification challenges add friction. Leading firms are breaking through by linking circularity to strategic objectives, build accountability through circular KPIs (like revenue from circular offerings), and prioritize piloting and learning before scaling. Crucially, they treat circularity not as a checklist—but as a transformation.
Harvard Business Review
2 days ago
- Business
- Harvard Business Review
The Promises, Pitfalls, and Trade-offs of the Circular Economy
Most businesses are built on a linear model: take, make, and discard. But that norm is reaching its limits, and leaders are under pressure to find smarter, more sustainable ways to operate. Weslynne Ashton is a systems scientist and professor at the Illinois Institute of Technology. In her masterclass at HBR's 2024 Leaders Who Make a Difference conference, she explains how companies can shift to a circular economic strategy. One that reduces waste, reinvests in communities, and creates long-term value. She shares how businesses around the world are rethinking products, partnerships, and growth itself to build more resilient, regenerative business models. Key episode topics include: environmental sustainability, corporate social responsibility, ESG, climate change, business models, strategy, competitive strategy HBR On Strategy curates the best conversations and case studies with the world's top business and management experts, to help you unlock new ways of doing business. New episodes every week
