Harnessing Circularity: Driving Climate Targets with CO2 Savings from Resource-Efficient and Circular Business Practices

Experience from the EU Eastern Neighborhood

The event took place on 16 November 2024 in the UNIDO Pavilion in Baku, Azerbaijan as part of the COP29.

Objectives
The event highlighted how circular business practices and models can drive CO2 reduction and contribute to achieving climate goals, particularly through applying Circular Economy principles, that are equally resource-efficient and low carbon. It showcased practical examples from the Eastern Partnership countries where businesses have achieved notable CO2 emission reductions through these practices.

Participants
The meeting brought together governments and business representatives from the Eastern Partnership (EaP) countries who have successfully implemented circular economy models, alongside EU institutions, international organizations, and experts in the field.

Background
The extraction and use of material resources drives over 55% of global GHG emissions. The transition to a Circular Economy (CE) with resource efficiency is therefore essential for mitigating climate change. Circular business practices and models, which focus, amongst others, on efficient resource use, waste reduction, and reusability, not only reduce CO2 emissions but also support long-term economic sustainability.

In the Eastern Partnership countries, circular economy initiatives have demonstrated the potential for substantial CO2 emission reduction. By embracing these practices and business models, countries are advancing towards their climate targets and creating a more resilient, resource-efficient economy.

This event will explore the experiences of businesses (from the Eastern Partnership region of the European Union) that have successfully introduced cleaner production and CE strategies in their manufacturing practices, addressing specifically the efficiency of use of water, materials, and energy, which contributed to significant reductions in their carbon emissions.

Agenda

Draft press release

Circular economy for climate action (presentation made by Dr. Rene van Berkel, SWITCH-Asia, Thammasat University)

Video with circular economy achievements in the Partnership Partner countries

Evaluation form

Pictures from the event

Related materials:

Towards Circular Economy in Ukraine:

 

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