Enabling the transformation to a new circular economy
Much of today’s economy remains linear. But a linear system is finite: raw materials cannot be depleted indefinitely and the climate is changing dramatically. Transitioning to a circular economy offers solutions and countless opportunities.
Solvay’s wants to help transform its customers’ value chains. To accelerate this transformation, Solvay signed a three-year partnership agreement with the Ellen MacArthur Foundation in January 2018. Solvay is the first and only chemical company to become a Global Partner of the Foundation.
A circular economy is an emerging new economic system that is resilient and creates value sustainably; it keeps all materials recirculating constantly without wastage and without waste.
It aims to reduce the waste associated with products and services after their period of use. It is driven by the need to reduce waste volumes and by the increasing scarcity of raw materials.
Underpinned by a transition to renewable energy sources, the circular model builds economic, natural, and social capital. It is based on three principles:
- Design out waste and pollution;
- Keep products and materials in use;
- Regenerate natural systems.
To meet growing customer demand, Solvay is developing a circular economy through:
- Ongoing innovation initiatives to design new products, materials and chemical processes with circularity in mind;
- Collaboration projects with customers to facilitate their circular business.
Solvay is taking steps and is working with customers, suppliers, and partners to identify opportunities where the Group can leverage on capabilities, in particular in the following fields:
- Redesign products and processes by reducing the use of critical resources, resulting in recyclable products;
- Develop new market value propositions to improve the customers’ circularity;
- Help extend the lifetime of the customers’ products;
- Help the customers reuse scarce resources;
- Develop renewable energy solutions for the customers.