Circular economy. A new dynamic for Auckland businesses

Auckland Tourism Events and Economic Development ATEED
Auckland Tourism, Events and Economic Development, ATEED
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We live in a world of massive urban population growth driving increasing pressure on the resources, infrastructure and environment on which we rely. More than half of the world’s population now live in cities and this is predicted to rise to 70 per cent by 2050. How cities manage this growth is a critical world issue as the current trajectory of growth and resource use can’t be sustained.

Cities need to embark on a new form of growth: one that is not reliant on ever-increasing resource use, and where the natural environment can be restored, new technology is embraced, economic prosperity is accessible, and communities are more resilient.
The circular economy is gaining traction around the world as it provides a compelling, prosperous, low carbon model for the future.

Leading cities and the businesses that operate within them have a key opportunity to lead, influence and speed up this transition. The circular economy will unlock new economic development and innovation opportunities. It will contribute to improved resilience and better environmental and societal outcomes.

A transition towards a circular economy for Auckland will play a fundamental role in achieving long term economic growth as well as delivering on low carbon commitments.

‘Circular Economy: A new dynamic for Auckland Businesses’, is an Auckland Tourism, Events and Economic Development (ATEED) insights paper which provides economic perspectives on a circular economy.

This insights paper is based on a comprehensive report facilitated by the Sustainable Business Network (SBN) entitled, ‘The Circular Economy Opportunity for Auckland and how business can realise it’.

This is the first time the economic benefits of a circular economy have been quantified for a city in New Zealand.

For Auckland businesses, pursuing process and product innovations that reflect circularity will create new forms of value, open up new markets and support sustainable growth by reducing reliance on finite resources.

We trust this report encourages and motivates a co-ordinated approach to drive Auckland towards a circular economy.

With its innovative, entrepreneurial business culture and connected community Auckland can not only achieve the benefits outlined in this report but establish itself as a model circular economy city for the world.

To do this we must embark on an unprecedented level of co-operation and co-ordination with individuals, communities, businesses, central and local government working together.

The time to act is now.

Economic Insights Series 6

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Last updated: 2018-05-14