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The concept of a circular economy emphasizes reducing, reusing, repairing, and recycling to minimize waste and maximize resource use in the context of a planet with finite resources. And as you’ll hear in this episode, circularity is increasingly becoming a business issue, both a challenge and opportunity, that interacts with multiple sustainability topics.

This week, Heather Horn is joined by Tom Beagent, a partner in PwC UK’s Global Sustainability and Climate Change practice, to discuss the circular economy, a sustainable alternative to the traditional linear economy model.

In this episode, we discuss:

3:02 - The concept of a circular economy and its importance in the context of finite resources
7:52 - The relationship between a circular economy, net zero emissions, and biodiversity
9:07 - The scale of change required, and the steps involved to transition to a circular economy
13:18 - Examples of industries and products that would benefit the most from transitioning to a circular economy
19:18 - Consumer practices that fit within a circular economy
24:21 - Why regulators are stepping in to mandate change
26:40 - The business opportunities that arise from solving problems related to waste and resource use
28:34 - The challenge of changing consumer behavior and perceptions of abundance
31:58 - Reporting under the EU's ESRS E5 standard and insights from the related data

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Tom Beagent is a partner in PwC UK’s Global Sustainability and Climate Change practice, specializing in integrating natural and social capital analysis into decision making for sustainable growth. With over 20 years’ experience delivering sustainable business projects, he also co-developed PwC’s Total Impact Measurement and Management methodologies (TIMM), which allows organizations to measure and value the social, environmental, economic, and fiscal impacts resulting from their operations, as well as their extended value chains.

Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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Talking ESG: The challenge – and promise – of a circular economy