Cefic study outlines five key actions to advance circular economy transition

Brussels – The European Chemical Industry Council (Cefic), in partnership with management consultancy Unity, has published a study setting out five priority actions to accelerate the chemical industry’s shift to a circular economy.

Titled ‘accelerating the circular transformation: insights, challenges, and pathways for the chemical industry and beyond,’ the report cites interviews with industry experts and case studies to assess the sector’s progress and identify barriers.

According to Cefic, “high costs, gaps in infrastructure, complex regulations, and low demand for circular productions” continue to limit the transition to circular economy.

The study called for coordinated efforts between industry and policymakers to overcome these issues.

“The message is clear: while the industry is stepping up, scaling circularity will require decisive action across the entire policy, business, and societal ecosystem,” said Marco Mensink, director general of Cefic.

The report set out five recommended actions including creating "a supportive regulatory framework" with targeted incentives as well as facilitating investments in circular infrastructure and technologies.

Furthermore, the report called for ‘embedding’ circular thinking across society; encouraging multi-stakeholder innovation; and monitoring progress to close implementation gaps.

A survey of Cefic members conducted as part of the study found that 90% of participants reported a high impact on their business from the circular transition, while 72% identified customer demand as a key driver.

In addition, 82% said the circular economy was integrated into their corporate strategy, while 52% said they considered their companies to be at “an advanced stage of the transition.”