The Business Case for Circular Procurement - Business in the Community
Overview The Business Case for Circular Procurement toolkit delves into the product categories organisations should consider and provides practical steps for implementing circular principles. By adopting a circular approach to procurement, businesses can enhance their sustainability while reaping business benefits.
In a circular economy, materials and resources are utilised for as long as possible, maintaining their value. Procurement plays a pivotal role in transitioning to a circular economy. Circular procurement focuses on making informed choices throughout the procurement process to promote circular business model decisions within the supply chain. This approach can influence decision-making and purchasing processes, offering benefits across:
- Environmental: Reducing carbon emissions and waste.
- Financial and Commercial: Decreasing purchasing costs and sidestepping unnecessary procurement expenses and time.
- Social: Supporting sectors predominantly led by small businesses or third-sector entities. This can also involve addressing employment barriers through skills development and hiring individuals who are traditionally marginalised.
The toolkit was penned by the global energy and environmental consultancy, Ricardo Energy & Environment, members of Business in the Community’s (BITC) Circular Economy Taskforce.
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