On May 4th, our first CIRCULAZE eXchange on monitoring & reporting took place. With this event format, we have established a sounding board for our partner companies. We invite experts to these virtual partner sessions and discuss key topics such as monitoring & reporting, reverse logistics, resource security, mindset, and much more in an informal exchange.
With the first eXchange on monitoring & reporting questions such as: How can the positive impact of CE measures be measured? How can CE approaches be identified and prioritized? And how can CE be anchored in corporate management? were covered.
In line with the principle "You can only improve what you can measure," these questions are central to any transformation. Marianne Kuhlmann and Dr. Paul Woebkenberg from Circularity provided insights into current challenges, considerations and approaches on how the impact of CE measures can be measured, which indicators are important for CE, and how these can be integrated into corporate management.
The key takeaways from our session:
1. To measure the implementation of the circular economy in businesses, there are three levels:
The first level: Headline Indicators. These reflect the basic goals of the circular economy and show why change is necessary. For example, businesses might aim to conserve resources, avoid GHG emissions, or reduce waste.
The second level: Performance Indicators. These analyze core activities and show what businesses can do to achieve circular economy goals. For example, businesses can improve their use of renewable or regenerative materials, reuse products and packaging, and extend the life of their products.
The third level: Organization Indicators. These focus on strengthening structures and foundations for change. For example, businesses can ensure employee competencies, create an innovative culture, and establish clear communication channels.
2. KPIs don't have to be just numbers. They can also be qualitative statements that help businesses understand their impact and progress towards circular economy goals.
To start implementing KPIs, businesses can:
- Conduct a material analysis to identify the most important environmental impacts and prioritize actions accordingly.
- Identify and prioritize measures that align with circular economy goals.
- Define ambitions and goals that are specific, measurable, and time-bound.
- Implement strategies and measure progress towards goals.
In conclusion, by using KPIs, businesses can track their progress and identify areas where they can improve their environmental performance. Whether it's reducing GHG emissions, conserving resources, or extending the life of their products, KPIs can help businesses make the transition to a more circular economy.
If you are interested in joining events like eXchange, get in contact with info@curaze.io to find out how to become a part of the CIRCULAZE Initiative.
