The circular economy is an opportunity for Finland
The main goal of the circular economy is to conserve natural resources and utilise materials efficiently and sustainably. The circular economy is an economic model that does not rely on constantly producing new goods. Instead of ownership, consumption is based on services, such as sharing, hiring and recycling. Materials are not disposed of at the end – they are used to make new products, again and again.
Cleantech, carbon reduction and the bioeconomy are close relatives of the circular economy. In 2015, the European Commission adopted an action plan aiming to accelerate the transition to the circular economy in Europe, increase global competitiveness, advance sustainable economic growth and create new jobs.
In the future, shifting towards the circular economy will be inevitable. If this transition is carried out in time and according to plan, countries that position themselves as front-runners can benefit their national economies. Finland now has an excellent opportunity to create innovations and provide solutions that can also be exported internationally.
In a digital, networked world, circular economy growth companies generate their business in flexible ecosystems. Renewable energy solutions, sustainable agriculture and forestry or responsible water services can be a source of profitable business and investment activities. In the circular economy, broad cooperation networks constitute valuable capital. Cross-sectoral cooperation must also extend to financing structures.
Steps to sustainable success
Finland released the world’s first road map to a circular economy in 2016. The road map to a circular economy is a plan for how to implement and utilise the opportunities presented by the circular economy. It was created by Sitra in cooperation with government ministries and a broad network of operators. The road map complements the Action Plan for a Circular Economy.
Version 2.0 of the circular economy road map offers a new foundation for investing in wellbeing and updates Finland’s steps to sustainable success and transformation of the economy.
Finland’s road map to the circular economy 2.0 (in Finnish, Sitra)