Global Business Coalition commits to support G7 & G20 leaders on Resource Efficiency

PARIS - April 6, 2017 - PRLog -- Meeting the demand for natural resources in a sustainable way is one of the main challenges of our time; data indicate that the use of raw materials rose at about twice the rate of the population growth, over the last century.

To decouple economic growth from environmental degradation, a collaborative approach involving governments, businesses, the scientific community, as well as consumers is much needed. The Global Business Coalition (GBC), which brings together leading business organisations from the major world economies, has made resource efficiency its priority and is committed to supporting the initiatives undertaken by the G7 and G20 leaders, in fostering the inclusion of resource efficiency in the international agenda.

RESOURCE EFFICIENCY, A GROWING GLOBAL PRIORITY

Resource efficiency has kept gaining in importance over the recent years, as a large part of the global resource flow takes place across borders and the challenges as well as opportunities can be addressed effectively through international dialogue and cooperation. It is in this context that Confindustria, the Confederation of Italian Industry, along with the Global Business Coalition, is hosting an international workshop on resource efficiency, in Rome on March 30, 2017, to foster the cooperation between the international business community, the G7-G20 and dedicated institutions such as OECD and UNEP.

THE ROLE OF BUSINESS

Businesses with global value chains are the most vulnerable to high volatility of supplies, but also occupy a key position to identify constraints and opportunities associated with natural resources. By decoupling economic growth from environmental degradation, businesses can also reduce risks, supply uncertainties and disruptions.

Businesses are indeed key solution providers for making our economies more resource efficient. Through innovative products and solutions, they can enable consumers to meet their economic needs in a more sustainable way. Many businesses believed in the resource efficient thinking and started investing in it years ago, and have gradually integrated it into industrial practices. Thus, good resource efficiency practices already exist in many sectors, be it as technologies or new business models.

In the coming years, resource efficiency will significantly impact the way businesses operate. It is expected that resource efficiency driven business models, will spur innovation along the entire value chain, increase revenue, and drive competitiveness, while helping to move towards sustainable futures. Companies that invest in resource efficiency will be best positioned to seize market opportunities and face international competition.

CHARTING A RESOURCE EFFICIENCY AGENDA

The development of an effective global roadmap on resource efficiency will benefit from active cooperation, between businesses and national and international institutions, in working towards achieving the following objectives:

-Encouragingpublicisingresourceefficiencythinking to reach out to a wider audience, including all aspects for material value chainsfrom extraction through to product use and end-of-life.

-Establishing monitoring of materialflows as a primary objective for increasingresourceefficiency. Addressing gaps in information by supporting public authorities, who are an indispensable source of credible data and canmakematerial data accessible and useful for the purposes of resourceefficiencyalong global value chains.

- Reviewing national and regionalpolicy initiatives thatincentiviseresourceefficiency in order to compare and integratethemintointernationally transparent policies.

-          Striving to provide consistent policies and incentives for companies and shareholders to embedresourceefficiency in business growthstrategies.

-          Fosteringincreased public and privateinvestment in research and innovation as itcouldreduce the cost of materialresources solutions and facilitate the transition to more-advanced technologies.

-          Reviewingrecommendationsfrom international financial institutions such as the IMF and World Bank to ensurethattheyreflecttoday'smarket conditions and new materialflows.

By providing a link between governments, relevant international institutions and business communities, the Global Business Coalition is in a unique position to inform the G7 and G20 policy-makers of the forward trends within industries, to support the development of an integrated international policy framework that benefits from good practices and experiences of how businesses can promote resource efficiency activities globally.

Link url: http://www.globalbusinesscoalition.org/gbc-press-releases/global-business-coalition-commits-support-g7-g20-leaders-resource-efficiency/