Circular Economy – Closing the Loop
Produce, consume, dispose – it often works like a one-way street. But this linear economy of “take, make, waste” production and consumption isn't compatible with the challenges facing the world today. To take on climate change and preserve our planet, we have to move away from a single-use mindset.
Our society must find new ways of putting our world's limited resources to good use. And reuse. This means making products that last for as long as possible. Avoiding waste. And viewing used products as a resource, recovering everything we can from them to recycle along the value chain. It also means exploring alternative sources of sustainable raw materials, such as biomass and even CO₂ itself. On top of it all, there's renewable energy, which is needed to power a truly resource-efficient economy.
Transitioning to this kind of circular world is a visionary project for society as a whole, and it's gaining traction. By working together, we can power the shift to Circular Economy, helping make our planet a more sustainable, healthier, cleaner place to live. In accelerating this transition, the plastics industry has a prominent role to play. That's because plastic can be found in practically every area of modern life and is the key to solving many of today’s pressing issues.
“Industry and society must make the Circular Economy their new guiding principle.”
Covestro as a Pioneer
At Covestro, we've focused our corporate vision entirely on advancing the Circular Economy, aspiring to meet the interests of customers and consumers alike. Aiming to offer solutions to challenges in the political, scientific, and economic sectors. And striving to advance the welfare of our own workforce. To accomplish our bold goal, we set up a strategic program in 2019, aiming at establishing circularity in all of our business segments. It's a holistic approach which will be backed by concrete, measurable goals.
The right turn
How Covestro drives the Circular Economy
Alternative Materials, Innovative Recycling
With our strategic program, our primary aim is to maximize the use of limited resources and manufacture plastics in a truly sustainable, climate-neutral way. By using alternative raw materials and renewable energy, we aim to shrink plastic's environmental footprint, reduce our emissions, and eliminate waste. We're also working to develop innovative technologies that improve and promote the recycling used products and materials. Recovered waste can be injected back into the value cycle as a raw material. In turn, this helps end our reliance on finite resources – a fundamental principle of Circular Economy. In the end, Covestro could be not only a producer and solution provider, but also an innovative recycler. In short, we're on the road to becoming a "re-ducer".
In the Circular Economy, products need to be designed for recycling and manufactured in a way that complies with the United Nation's sustainability goals. To create these forward-thinking solutions, we aim to collaborate with as many players as possible from across all areas of the value chain. By working together, we will not only realize new business opportunities, but will also help make the world a brighter place for us all.