BASF, the world’s leading chemical company, today announced its membership of two Ellen MacArthur Foundation programs, to further advance its existing circular economy solutions.
Founded in 2010, the Ellen MacArthur Foundation works with businesses, government and academia to build a framework for an economy that is restorative and regenerative by design. The transition from a linear to a more circular economy can bring significant changes in business models and provide additional value across industries and to society. The aim is to develop an attractive and viable alternative to today’s linear “take, make, dispose” model. The chemical industry plays a pivotal role in this transition due to its innovation power.
“Circular economy is much more than waste management. It requires substantial changes in terms of behavior and technology use. Circular economy thinking cannot be restricted to a company’s own operations. It needs to run across the value chain to embrace and provide value to customers and suppliers,” said Dirk Voeste, Vice President Sustainability Strategy at BASF. “A smart circular economy concept has to be integrated within product development, production processes, use and re-use systems right from the beginning.”
To learn more about BASF's circular economy initiatives, click here.