The transition to a circular economy represents a fundamental shift in the development of business and economic opportunities.

In a new report for the World Business Council for Sustainable Development (WBCSD), Guidehouse describes key developments and the implications of the European Commission’s Circular Economy Action Plan 2020 (CEAP 2020), a landmark publication for businesses as the transition continues.

The report builds upon previous WBCSD-Guidehouse reports on circular economy policy enablers and presents concrete steps for businesses to respond and act upon the legislative and regulatory actions proposed by the CEAP 2020.

By understanding the policy outcomes intended by the CEAP 2020, business stakeholders can move forward and further shape the circular economy policy dialogue so that it is supportive and effective for businesses.

The report provides five key recommendations for businesses:

• Coordinate with public affairs colleagues to conduct an in-depth study of specific directives (proposed and adopted) to determine how the CEAP 2020 and its various elements will affect your business and over what timeline.
• Compare how the CEAP 2020 and associated directives complement or contradict other regional and national policies for your business and share challenges with the most appropriate stakeholders.
• Develop an action plan with all relevant departments to ensure compliance with legislation in the future. Engage company leadership to prioritize this effort and make sure they will consider these results in future decision-making.
• Engage with stakeholders, such as industry associations, NGOs, and public and private sector forums, to initiate a dialogue on how your industry or value chain can work with the public sector to establish constructive, progressive and enforceable measures.
• Share expertise and best practices showing how your company has achieved compliance with relevant policies with other companies in your value chain, industry and geography.