Circular Economy Award – Organization
This Award category is designed for organizations that have integrated principles of Circular Economy into their business strategy.
Award Purpose
- Inspire organizations to adopt principles of circularity and Circular Economy models, in order to minimize their environmental impact and regenerate nature.
- Recognize organizations for their achievements and contribution to circularity.
- Share best practices.
- Promote and enhance circularity.
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Award criteria Circular Economy Award
- Organization
Award Criteria : Circular Economy Award Organization
This Award category is designed for organizations that have integrated principles of Circular Economy into their business strategy.
1. Leadership
Organization leadership demonstrates its strong commitment to the Circular Economy. It can be through policy making, setting direction, strategy, adopting principles and concepts of Circular Economy, committing resources, establishing objectives and performance measures, engaging stakeholders, contributing to the UN SDGs.
2. Strategy
Organization has a documented strategy for implementing Circular Economy principles, practices and models. The Strategy covers actions that create / retain / recover value or regenerate eco systems. The Strategy is communicated internally and externally, it is cascaded to relevant functions and levels and integrated into business plans, risks and opportunities related to transitioning to the Circular Economy. Organization has established objectives and performance measures (KPIs) pertaining to Circular Economy. Alignment with local government regulations on Circular Economy.
3. People Competencies and Capabilities
Leaders, managers and others have required competencies and capabilities in the field of Circular Economy. They are actively engaged and made aware of the need, importance, relevance and benefits of Circular Economy. Responsibilities are assigned for the Circular Economy.
4. Suppliers and Partners
Suppliers and Partners are proactively engaged to adopt Circular Economy principles, practices, and models across the value chain. Sourcing of reused and/or environment friendly materials is increasing. Suppliers providing full information about product/service footprint (e.g., through Digital Product Passports) are prioritized.
5. Design and Materials
Products and/or services are designed and delivered to prevent waste and pollution, reduce materials extraction and regenerate nature throughout the full lifecycle, including end-of-life stage. It is designed for longer life, it can be easily repaired / repurposed / reused.
6. Implementation
Circular Economy plans are aligned with the Circular Economy strategy and implemented, using tools and technologies supporting implementation of circularity in products, services, operations.
Organization reviewed and updated existing policies, processes to align with circular practices, considered environment impacts, resource efficiency, water, energy use. E.g. procurement policies support use of environment friendly materials, used materials, use of Digital Product Passports, Extended Producer Responsibility.
7. Measurement and Impact
Organization has measurements pertaining to circularity in place. These can be: % material circularity, % water circularity, % of reused materials, greenhouse gas emissions, contribution to UN SDGs. Any other measurements reflecting reuse, repair, recycling, product longevity, nature regeneration.
Performance trend is positive minimum over the last 1-2 years, targets are met, performance is compared with the industry benchmark, using relevant and credible sources.
8. Learned Lessons, Improvements and Future Plans
Organization learns and improves while implementing Circular Economy principles, practices, concepts, models. Future plans are developed for accelerating the Circular Economy.