This video offers a comprehensive introductory summary of the value of addressing waste in businesses both large and small. The linear consumption based economy is littered with waste. It spends more money on energy than labor. According to the McKinsey Global Institute estimates that the world could save $2.9 trillion every year by the year 2030 if it eliminated waste. Businesses have a powerful incentive to use their resources (raw materials, labour and energy) more efficiently through a circular or closed loop economy. Some of the world’s leading corporations have demonstrated that by reducing waste they have increased productivity, saved costs, increased profits, and created jobs. In its simplest essence we need to think of the long term rather than just the short term which defines so many business models today.
Waste is an indisputable sign that a business is bleeding money. Waste is any substance that emerges from the business which cannot be sold and is proof that the business is not obtaining 100 percent from its purchases and investments.
We need to think and act for the long terms because it all begins and ends with the environment.
Click here to download complimentary books from the European Foundation for Management Development (EFMD). For more information on The Center for Industrial Productivity and Sustainability click here.
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