The explosion in data and digitalisation has the potential to get the wheels of the circular economy turning even faster. The amount of data flowing and the widespread use of digital tools and technologies, Internet of Things and connected devices have the capability to provide valuable information for accelerating the circular transition. Information on material content, origin and value, as well as on product location, use, and condition to be tracked across the value chain are highly valuably for companies seeking to offer more circular business propositions such as closed-loop processes, remanufacturing or product-as-service models.
Pairing this digital revolution with circular economy principles can redefine the relations between economy, materials and finite resources. Looking at the systemic changes, use of data can become the new infrastructure that can enable a structured use of assets and movements along the value chain. Digital tools become as important as physical tools when it comes to determining and steering asset flows.
According to the Ellen MacArthur Foundation, the value created from circular economy can extend beyond direct business benefits, and generate significant wider societal benefits. There are also major savings to be found in the marginal costs of value chains, which primarily stem from extending the use cycle of assets, increasing their utilisation and “cascading” them – in other words, creating more opportunities for diversified reuse of products, component parts and materials.
Through better use of data and big data analytics, companies can get a better handle on material flows, traceability, predictive maintenance, real-time route optimisation, product use patterns and customer requirements. Data can help illuminate transparency and reliability of global value chains and industries aiming to be sustainable, which can support green decision-makers and sustainability as a competitive advantage. In a circular economy, a data overview of materials, products and processes is a way to increase transparency both upstream and downstream.
This GREEN INSIGHTS will focus on the challenges, barriers and opportunities for data to promote circular business models, where partnering across industries and sectors can extend the use of data and drive a circular transition.
To find many more events on circular economy, please see the full event overview for Circular City Week 2021: https://www.circularcityweek.com/events2021
11:00 AM EST/16.00 CET: Welcome by moderator
Moderator: Peter Hesseldahl, Editor – Digitalisation, Mandag Morgen
11:05 AM EST/16.05 CET: Opening remarks
By Torsten Andersen, Deputy Director, Danish Business Authority
11:15 AM EST/16.15 CET: Solutions on data-driven circular economy
- Optoro – Eliminating waste from returns through return technology
By Meagan Knowlton, Director Sustainability, Optoro
- Continued – rental platform for fashion clothing
By Vigga Svensson, CEO, Continued
11:35 AM EST/16.35 CET: Panel debate – Deep dive into the potential of data in a circular transition
- Patrick Moloney, Market Director Strategic Sustainability Consulting , Rambøll
- Emma Gains, Sustainable Development Lead, Arup Denmark
- Jason Moore, Director of Service Solutions and Marketing , Grundfos
11:55 AM EST/16.55 CET: Closing Remarks
Moderator Peter Hesseldahl
Editor - Digitalisation, Mandag Morgen
Deputy Director, Danish Business Authority
CEO , Continued Fashion
Market Director Strategic Sustainability Consulting, Rambøll
Sustainable Development Lead, Arup Denmark
Director Sustainability, Optoro
Director of Service Solutions and Marketing , Grundfos