Car component reman ‘part of €135 billion investment’
- March 10, 2017
Ramping up the remanufacturing of car parts and producing zero-emission cars with reusable components will help to create billions of euros of investment in Europe, according to a new report. It suggests that those two actions could be part of activities that will create growth in mobility that could be worth €135 billion by 2025. Launched at the World Economic Forum in Davos, Switzerland, Growth From Within is produced by SYSTEMIQ in collaboration with the Ellen MacArthur Foundation and argues that scaling up the circular economy offers opportunities totalling €320 billion across the continent. While transport offers the lion’s share, the built environment (€115 billion) and food (€70 billion) are the other areas targeted by the research.
Legislative interest is not the problem, the report concludes: “European policymakers have accorded the circular economy priority status, yet in an era characterised by under-investment and stagnant growth, the investments needed to unlock its opportunities have not yet materialised.” Together, the three areas account for 60% of European household spending and 80% of resource use, and the report identifies investment ‘hot spots’ to create an additional 7% GDP growth, reduce raw material consumption by an additional 10%, and produce 17% lower annual CO2 emissions, “compared with the current development path”. Foundation founder Ellen MacArthur says that by shifting to circular economy practices “Europe can begin to exploit new opportunities for innovation, growth and resilience, gradually decoupled from resource constraints”. At Davos, the Foundation also released its Circular Design Guide with design firm IDEO.