🎯 Key Takeaways for quick navigation: 00:00 *🌐 Anita Wood introduces the webinar and its guest, Julia Novy, who will discuss circular economy approaches in business strategies. * - Introduction to the webinar focusing on circular economy, business, and sustainability. 03:21 *📚 Julia Novy outlines the agenda, starting with defining sustainability in business, exploring the advantages of the circular economy, discussing five promising business models, and potentially sharing HP Inc.'s circularity model.* - Agenda overview covering sustainability, circular economy benefits, business models, and potential case study. 04:47 *🔄 Julia discusses the concept of sustainability, emphasizing its focus on intergenerational well-being and the need for economic and social pathways that secure future needs without compromising resources.* - Sustainability defined as ensuring well-being across generations. - Shift from linear to circular models required for sustainable development. - Highlighting interdependence among economy, society, and environment. 06:43 *🌐 Julia explores the difference between complicated and complex contexts, emphasizing the necessity for businesses to adapt to a complex operating environment.* - Distinction between complicated and complex contexts. - Complex systems require constant adaptation and experimentation. - Understanding interdependencies crucial for effective decision-making in complex environments. 10:04 *🔄 Discussion shifts to businesses' response to operating in a complex world, emphasizing the need for a systems perspective and integration of sustainability into core strategies.* - Businesses adopting systems perspective for navigating complexity. - Greater responsibility and stakeholder engagement necessary for sustainable operations. - Integration of sustainability critical for long-term value creation. 12:01 *🔄 Julia delves into the circular economy's alignment with systemic views of reality and business operations, focusing on principles such as longevity, renewability, and dematerialization.* - Circular economy principles emphasizing resource efficiency and longevity. - Shift from linear to circular models necessary for sustainable economic development. - Culture shift towards viewing waste as untapped resources essential for circularity. 18:19 *💡 Discussion highlights waste as a central aspect of circularity, addressing the potential economic losses due to the linear growth model's inefficiency in managing resources.* - Understanding waste crucial for transitioning to circular economy. - Identification of wasted resources across sourcing, manufacturing, utilization, and disposal stages. - Economic opportunities associated with circular economy approaches. 21:37 *💼 Julia explores the global scope of the circular economy, emphasizing its economic potential andincreasing adoption by businesses worldwide.* - Circular economy projected to be worth trillions by 2030. - Growing integration of sustainability into strategic decision-making. - Business competitiveness enhanced through circular economy principles. 23:57 *🔄 Circular Economy Business Models* - Circular economy encompasses various business models aimed at sustainability. - Key takeaway: - Accenture's study identified five significant circular business models: circular supply chain, recovery and recycling, product life extension, sharing platform, and product as service. 26:18 *♻️ Circular Supply Chain and Recovery/Recycling Models* - Circular supply chain focuses on using renewable, recyclable, or biodegradable materials. - Recovery and recycling involve reviving waste for other purposes. - Key takeaways: - Examples include Ecovative Design using mycelium for sustainable products and Ford's reuse of aluminum scrap in partnership with Novelis. - Interface utilizes discarded fishing nets and PVB from windscreens to reduce its carbon footprint. 29:35 *🔄 Product Life Extension Model* - Michelin's transition to a service-oriented model through tire leasing. - Remanufacturing processes employed by companies like Caterpillar. - Key takeaway: - By leasing products and remanufacturing end-of-life units, companies can extend product life cycles, reduce waste, and conserve resources. 31:29 *🤝 Sharing Platform Model* - Sharing platforms connect product owners with users, optimizing product utilization. - Key takeaway: - The sharing economy model enhances resource productivity and fosters community connections, benefiting both individuals and businesses. 34:42 *💡 Summary: Circular Economy Benefits and Case Study* - Circular economy principles facilitate resource conservation and environmental sustainability. - Key takeaways: - HP Inc. exemplifies circular economy practices by integrating recycled plastics into its supply chain, tackling ocean plastic pollution, creating job opportunities, and supporting local communities in Haiti. 47:55 *🔄 Circular economy initiatives by HP Inc.* - HP Inc's collaboration with various stakeholders to implement circular economy practices. - Investment in a washing line in Haiti to increase production quantity and quality, providing job opportunities and reducing carbon footprint. - Emphasis on innovation and profitability while ensuring living wages for workers. 50:17 *🌍 Applying circular economy principles in post-war Ukraine.* - Highlighting the need for a shift in mindset towards interdependence and sustainable practices. - Suggestions for rebuilding Ukraine with a focus on policy changes, sector-specific analysis, and cultural shifts towards circularity. - Recognizing opportunities for radical change and innovation amid crisis. 54:31 *💰 Balancing capitalism with sustainability in the circular economy.* - Exploring alternative revenue models beyond product sales, such as selling services. - Considering pricing adjustments for durable products and transitioning to a service-based business model. - Recommending resources like the book "Waste to Wealth" for understanding economic shifts in circular economies. 56:55 *⏱️ Timeline of HP Inc's transition to circular economy practices.* - Overview of HP Inc's 15-20 year investment in recycling print cartridges. - Evolution of initiatives, including sourcing plastic bottles for recycling in Haiti over the past 7-8 years. - Emphasis on learning, innovation, and continuous improvement throughout the transition process. 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1. The mycelium thing consume too much energy in the final trying process. This material is not very popular... why? 2. Michellin recycling rate is 97%..? is it a kind of green wash..? 3. Is sharing economy really eco-friendly..? few hundred thousands of bicycles were thrown after the model burst; millions of e-hiring private drivers can't find proper job....