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A 30% reduction in material use would already be a solution to the climate crisis – but this can only be achieved through a circular economy.

In 2026, Hungary will host the European Circular Economy Hotspot meeting.

Creating a circular economy is a global necessity: this transcends geographical boundaries and requires collaboration among nations, organizations, and stakeholders from diverse backgrounds. This was the key message at the 7th Circular Economy Summit, held on November 21, 2024. BCSDH, in collaboration with its professional partners, has won the right to host the 2026 European Circular Economy Hotspot meeting.

Global material consumption has more than tripled since 1970, while the Earth’s population has only doubled. Material extraction and processing are responsible for 60% of the harmful impacts on the climate, over 90% of biodiversity loss and water stress linked to land use, and approximately 40% of health-damaging particulate air pollution.

“Our health and the health of our economy depend on the health of nature, which is declining at an unprecedented rate. Humanity’s negative impact on nature is becoming increasingly evident, and alongside the climate emergency, we must now clearly reckon with the danger of the collapse of natural systems. In this situation, accelerating the transition to a circular economy is in our shared interest, as the resulting reduction in consumption alone could address many climate and ecological crises. However, this requires cooperation instead of competition, shared commitments, measurable targets, and actions. Immediate action is needed in this area as well,”- said Attila Chikán Jr., President of BCSDH, in his speech.

The global circularity rate of material use is steadily worsening. While in 2018, 9.1% of all raw materials used by the global economy came from recycled materials, this figure had dropped to just 7.2% by 2024. Our economy is still on a path of increasing material use, even though societal needs could be met with just 70% of the materials that are currently used. Increasing the level of circularity to this extent would significantly impact several ecological tipping points.

“We need a paradigm shift in the way we handle raw materials. The quantity of raw materials we use globally has more than tripled since the 1970s, and it is expected to double by 2060,” – the Dutch ambassador, Désirée Bonis, pointed out, adding that we also need to ensure resilience to geopolitical shifts in the supply of raw materials. The Dutch National Circular Economy Program aims at closing the loop of material flows so that the country becomes 100% circular by 2050, in line with the climate goals.

The Circular Economy Platform now has 102 members. It was established through the initiative of the Business Council for Sustainable Development in Hungary (BCSDH), the Embassy of the Netherlands, and the former Ministry of Innovation and Technology. Its members have identified knowledge sharing, collaboration, and immediate action as their most important priorities.

According to the latest report by the National Council for Sustainable Development (NFFT), Hungary is depleting its natural capital at an increasing rate. However, a positive development in waste management is the growing proportion of selectively collected waste, which is accompanied by a continuous increase in the amount of material being recycled. In line with EU objectives, the circular economy has also become a focal point in Hungary’s public policymaking.

Dr. Márta Nagy, Deputy State Secretary for Circular Economy at the Ministry of Energy, discussed the current regulatory environment for the circular economy in Hungary and the sustainability priorities of Hungary’s EU presidency.

The phase-out of single-use plastics, the introduction of the extended producer responsibility system, the mandatory deposit return system, and the recently implemented concession-based waste collection system are seen as the only viable options for meeting both EU and Hungarian climate goals. These measures also represent significant progress in developing the circular economy, a priority that Hungary’s EU presidency places particular emphasis on accelerating.

According to BCSDH’s survey in 2023, 69% of companies expect state incentives, and 59% expect regulatory measures to facilitate the transition to a circular economy. There is significant anticipation regarding ongoing initiatives.

Rebeca Nohl from SYSTEMIQ presented a summary of the Global Resource Outlook 2024 (IRP), jointly published with the WBCSD, highlighting its business implications and impacts.

According to the report, resource extraction has tripled over the past five decades and is projected to increase by 60% by 2060. The study emphasizes that resource use is associated with significant business risks: competition for natural resources intensifies supply chain volatility, further exacerbated by climate change and geopolitical disruptions. Rising material costs erode profits as competition for finite resources becomes fiercer.

Businesses face increasingly complex climate-related regulations and growing scrutiny and expectations from consumers, employees, and investors regarding their environmental impacts.
The summary highlights the opportunity for businesses to unlock new sources of profit and increase their resilience by decoupling value creation from resource consumption. Resource efficiency and productivity can serve as an organization-wide means of achieving multiple goals, such as building resilient supply chains, reducing costs, enhancing competitiveness, and strengthening market differentiation.

There is currently significant international attention on the joint initiative of the WBCSD and UNEP, the Global Circularity Protocol, which was presented by Filipe Camano Garcia, Director of the World Business Council for Sustainable Development (WBCSD). This standard system, currently under development, is being modeled after the Greenhouse Gas Protocol and is set to be introduced in 2026. It is a voluntary standard designed to provide methodology and metrics for businesses, as well as practical tools for policymakers. As the first step, a ‘landscape analysis’ was completed in July 2024. This analysis maps out corporate measurement and reporting tools, policies, and regulations related to circularity, helping to identify gaps and opportunities within the circular ecosystem that can support the development of the protocol.

Among our internationally recognized speakers was Joost van Dun, Head of Sustainable Financing and Circular Economy at ING Bank, who, through examples, showcased the current financing trends in the circular economy sector.

The role of collaborations in achieving a circular economy was the focus of a panel discussion featuring Brigitta Deák, CEO of Greenpro Zrt., Joost van Dun, Head of Sustainable Financing and Circular Economy at ING Bank, Csaba Farkas, Director of Sustainability and Innovation at Master Good Kft. The panel explored the types of cross-sectoral collaborations that can make successful circular business models achievable. The roundtable discussion was moderated by Dr. Bálint Bartha-Horváth, Senior Sustainability Consultant at CBRE.

For the first time in the history of the Circular Economy Summit, an innovation corporate pitch series was held, showcasing the best circular solutions. Five companies and organizations had the opportunity to present their circular solutions. The presenters were:

Repair Café Budapest – Viktória Kranzieritz, Volunteer
Denim Deal – Roosmarie Ruigrok, Sustainable Fashion & Textile Expert
Miscancell – Marcel van de Peppel, CEO
Moholy-Nagy University of Art and Design (MOME) Innovation Center – Dalma Berkovics, Head of Partnerships
Sock Exchange Program – Zoltán Csányi, Founder

Ivett Takács, project manager, reported on the 2024 results of the Circular Economy Platform andon the European Circular Economy Hotspot meeting held from October 7-9 in Wales, where the BCSDH’s partnership proposal was announced as the winner. As a result, Budapest will host the largest international forum on the circular economy in 2026.

She emphasized that for BCSDH, as one of the founding members of the Circular Economy Platform, it is crucial to have a community of highly committed companies and business leaders. By following the good practices of the 140+ member companies, the entire business sector can go beyond making drastic emissions reductions to also focus on biodiversity preservation and restoration and reversing growing social inequalities. This is the core focus of our Time to Transform 2030 program, which builds on the outcomes of the Action 2020 program and is supported by our Circular Economy Platform.

THANK YOU TO THE MAIN SPONSOR OF THE EVENT:

TO THE EVENTSPORSORS:

TO THE 2024 SUPPORTER OF THE CIRCULAR ECONOMY PLATFORM:

AND TO THE SPONSOR OF OUR CARBON-CONSCIOUS EVENTS:

22.11.2024

Is the circular economy the Swiss army knife of ESG reporting? – Report about the sixth Circular Economy Summit

News

As a complex system, the circular economy is associated with efficient tools for addressing climate change, biodiversity, and ESG issues. This key message was at the forefront of the sixth Circular Economy Summit, which took place on November 23, 2023, attracting close to 180 participants and significant interest. During the event, the ‘The Tulip Award for Sustainability’ was presented.

‘Each year, we use 1.75 times as many resources as Earth can replace to sustain our lifestyles, and the supply of ecosystem goods and services cannot keep up with our needs. Damaged ecosystems exacerbate climate change, undermine food security, and put people and communities at risk. While real social needs could be met with 30% less material consumption, our economy is still continuously using more material. In this situation, accelerating the transition to a circular economy is in our common interest, as the associated reduction in consumption alone would represent a solution to numerous climate and ecological crises. Immediate action is also needed in this area.’ – said Attila Chikán Jr., President of BCSDH, in his speech.

The index of global material use is deteriorating. While in 2018, 9.1% of all raw materials used in the world economy came from recycled materials, this number had dropped to 7.2% by 2023. And as business as usual continues, the amount of material used globally may increase by up to 84% by 2050, while global social needs could be met with 70% of the material that is currently used. Reducing consumption to this extent would significantly positively impact several ecological tipping points

Today, the Circular Economy Platform, established at the initiative of the Hungarian Business Council for Sustainable Development (BCSDH), the Dutch Embassy, and the Hungarian Ministry of Innovation and Technology, consists of 99 members. These institutions have highlighted knowledge-sharing, collaboration, and immediate action as the platform’s most important tasks.

According to the BCSDH’s second survey on the state of the circular economy in Hungary, 73% of domestic companies see the transformation of production processes as crucial, while 66% focus on extracting resources from waste, and 62% are prioritizing waste management for the future. Consumer behaviour change will not be the primary driver of these changes, but a significant proportion of current initiatives target consumers and could play a crucial role in fostering awareness. However, systemic changes are still lacking.

Dr. Anikó Raisz, State Secretary for Environment and Circular Economy at the Ministry of Energy, spoke about the current regulatory environment for the circular economy in Hungary.

In Hungary, phasing out single-use plastics, implementing an extended producer responsibility system, introducing a new mandatory deposit system, and the newly operational concession-based waste collection system are seen as the sole opportunities to meet EU and Hungarian climate goals. These initiatives could also mark significant progress toward adopting a circular economy. Our goals are ambitious, and the OECD study released this spring, in which BCSDH played a significant role, provides guidance for achieving them.

According to the BCSDH survey, 69% of companies expect assistance transitioning to a circular economy involving government incentives, while 59% look to regulatory measures for support. There is great anticipation regarding these ongoing changes.

Among our internationally recognized speakers was Vincent GRUIS, Prof. Dr.ir., Professor of Housing Management at Delft University of Technology, who discussed the transition path towards more circular and sustainable construction—an essential area. Joost van Dun, the Circular Economy Lead at ING Bank, showcased through examples how circular economy criteria can be applied in sustainable finance during his presentation.

Camilla Visconti, Consultant at Circle Economy Consulting, highlighted during her presentation on the CSRD toolkit that it is the first reporting system in which reporting on progress in the circular economy is mandatory.

The role of SMEs (Small and Medium-sized Enterprises) in the transition to a circular economy is crucial, and they may be supported on their path towards sustainability by the OPTEN ESG Index. Dr. Hajnalka Csorbai, Strategic Director of OPTEN Informatikai Kft., introduced this index during the event.

A panel discussion focused on the relationship between the circular economy and ESG. Participants, including Tibor Bodor, CEO of ING Bank; Kam Jandu, CEO of Budapest Airport; Károly Gábor Nyári, Vice President and Head of FP&A at Grundfos; and Richárd Végh, CEO of the Budapest Stock Exchange, explored the significance of ESG compliance across various sectors and how fulfilling ESG criteria can be supported by the principles of the circular economy. The roundtable was moderated by Irén Márta, Managing Director of BCSDH.

Transitioning towards a circular economy and sustainable operations involves the crucial integration of ESG (Environmental, Social, and Governance) factors into the investment process. This framework ensures transparent, sustainable business practices that are measurable and reportable. Both the circular economy and ESG are pivotal for mitigating investment risks, meeting commitments to climate protection and biodiversity, and leveraging new forms of sustainable growth.

Az event’s second panel discussion focused on reforming Hungary’s waste management system, moderated by Bálint Bartha-Horváth PHD, Senior Sustainability Consultant at CBRE. Participants included Martin Basila, Founder and CEO of Sensoneo; Dr. Viktória Bodnár PHD, Managing Director of IFUA-Horváth & Partners Ltd.; and Tivadar Runtág, Material Flow Director at MOHU MOL Waste Management Ltd.

The new comprehensive waste management system has launched with the aim of achieving 90% functionality within three years. There are many unforeseen challenges ahead. Several smaller, older players did not register in the system, and the extent of illegal waste imports exceeds initial estimates. The stakes are high as significant volumes of valuable materials are ending up in the trash. The mandatory deposit return system starts with the installation of approximately 2000 return machines nationwide, which could increase to 4000-6000. Educating stakeholders is crucial, thus a significant and multi-layered campaign is launching to ensure that consumers across various age groups and market players understand every detail of the new system.

The Hungarian Green Building Council (HuGBC) has made an unprecedented and meaningful zero-carbon recommendation specifically for buildings in our country. This recommendation urges action from stakeholders within the construction industry to achieve the crucial 2050 climate goal. Gábor Szarvas, President of the HuGBC, presented this recommendation.

‘The Tulip Award for Sustainability’

For the first time, the Circular Economy Summit hosted the presentation of the “Tulip Award for Sustainability,” established by the Embassy of the Kingdom of the Netherlands in Hungary.

The aim of the award is to annually recognize SMEs, startups, companies, or nonprofit organizations that demonstrate outstanding performance in sustainability within a particular industry. This year’s award theme was the ‘Sustainable and Circular Construction Industry.’

“The circular economy remains an important priority for the Netherlands as the country wants to be fully circular by 2050. To achieve this ambitious goal, we should also build more sustainably as the construction sector accounts for half of the raw material consumption in the Netherlands,” – emphasized Désirée Bonis, Dutch ambassador to Hungary, in her speech.

This year, the prize was won by a young architectural company, Equinox International, for its holistic approach to the sustainability of its residential buildings. A special prize was given to Café Plusz Kft. for promoting hempcrete as a sustainable construction material.

A six-member professional jury evaluated the applications that were submitted, comprising:

Dr. Barbara Botos, Travelling Ambassador for Climate Affairs and Climate Diplomacy, Ministry of Energy

Zsombor Barta, Ambassador of the Hungarian Green Building Council (HuGBC)

Andrea Istenesné Solti, President of the Hungarian Business Leaders Forum (HBLF), Shell Hungary Zrt. Chair

Zoltán Krázli, Program Director of GS1 Hungary Nonprofit Ltd., Coordinator of the Lean & Green Platform

Irén Márta, Managing Director of the Business Council for Sustainable Development Hungary (BCSDH)

Katinka Zinnemers, President of the Dutch-Hungarian Chamber of Commerce (Dutcham), Managing Director of Abacus Medicine A/S

BCSDH – one of the founders of the Circular Economy Platform – strives to be a community of highly committed companies and business leaders and is encouraging and supporting its more than 140 member companies – and, following them, the business sector as a whole – to go ‘beyond emissions’ and focus on biodiversity conservation and restoration and reverse growing social inequality.

This is what our Time to Transform 2030 (a decade-defining program built on the achievements of Action 2020) is all about, to which our Circular Economy Platform is also connected.

Thanks to the main sponsor of the Summit:

Thanks to our sponsors of the Circular Economy Platform 2023:

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What is a circular economy?

In the current linear economic model, technical and biological components are extracted from nature, transformed, and, after use, treated as waste, much of which is not recycled.

In the circular economy model, on the other hand, metabolic processes occur in a closed loop, waste is almost 100% recycled, and biological and technological components are returned to circular processes without any loss of quality.

Therefore, the shift to a circular economy involves rethinking the relationship between markets, consumers, and natural resources through the responsible management of natural resources.

23.11.2023

The circular economy is key to halting biodiversity loss

News

Ninety percent of biodiversity loss is caused by the extraction and processing of natural resources. One million species are threatened with extinction by 2050. Over half the world’s total GDP is moderately or highly dependent on nature and its services. The circular economy and biodiversity are closely interrelated. This key message was the focus of the fifth Circular Economy Summit held on November 24, 2022, with nearly 150 people in attendance.

Only 8.6% of the global economy is circular, thus significantly less than the potential scope, even though the circular economy involves a number of tools and complex systems, and is one of the most effective things we can do to tackle the world’s most pressing challenges, including the preservation and restoration of biodiversity. At the biggest circular event of the year (held with the help of ING Bank) a number of corporate and start-up examples of the circular economy were provided along with an overview of international processes.

Today, the Circular Economy Platform, which was established at the initiative of the Hungarian Business Council for Sustainable Development (BCSDH), the Dutch Embassy, and the Hungarian Ministry of Innovation and Technology, consists of 97 members. These institutions have highlighted knowledge-sharing, collaboration, and immediate action as the platform’s most important tasks.

The impact of the linear economy is unquestionable: more than 90% of the biodiversity loss is caused by the extraction and processing of natural resources. In the last decade, the global economy has consumed 70% more virgin materials than the world can safely replenish.

The connection between biodiversity and material management is clear: the circular economy as a form of system-level change can play a role in halting biodiversity loss and can create tangible opportunities for businesses as well.

“Companies must be at the forefront of systemic changes. Those who act earlier are apparently less likely to suffer from external effects such as rising energy prices, shortages of raw materials, or disruptions in supply chains… Climate neutrality must be achieved urgently – among other things – through the spread of the circular economy, which the leading companies have already recognized… according to this year’s ‘Towards Net Zero’ research, the use of circular solutions is increasingly coming to the fore. For the time being, these solutions are mostly seen as new business opportunities alongside preexisting ‘material-intensive’ processes. But the aim should increasingly be to replace the latter, as this approach can only slow down the use of natural resources” – highlighted Attila Chikán Jr., president of BCSDH, in his speech.

“Use the current crisis to build a circular, regenerative and future-proof economy that not only stops the destruction of the Earth but restores the damage that has been done” – stated Efstathios Andreou, Deputy Ambassador of the Netherlands to Hungary in his opening speech.

Guest speaker at the Circular Economy Summit was Prof. Dr. Jacqueline Cramer, a renowned expert on the circular economy, professor at Utrecht University, chair of the board of the Dutch Circular Hotspot, former Dutch Minister of Housing, Spatial Planning and the Environment and author of the book Building a Circular Future, published in 2022, who sees that a clear way to accelerate the process is to join forces and launch as many pilot projects as possible: “Coalitions and alliances need to be built with those willing to take the lead in making a circular future a reality, and the number of pilot schemes needs to be expanded with more and more donors and active government involvement.”

Hungary is currently not managing its natural resources well, and is far from circular, but it is encouraging that, as in Europe, the legislative process has started to address the issue of the circular economy. These are important steps that can ensure that Hungary’s further development does not take place by using up natural resources. Tamás Rentz, Head of the Department of Sustainability and Awareness Raising at the Ministry of Technology and Industry, reported on the progress made so far and on the next steps.

The transition to a circular economy is today’s big business opportunity. The essence of the concept is not yet well understood by most economic actors, but it is a model that can increase the resilience of the economy and facilitate the achievement of the Paris Agreement on climate change and the UN Sustainable Development Goals. Creating a circular economy could represent a global business opportunity worth USD 4.5 billion by 2030.

“Sustainability is at the heart of ING Bank’s strategy. We see the shift to a circular economy as essential to preventing climate change, and financial institutions have the responsibility to be the drivers of this process, as we banks can provide the finance to make the transition“ – added Tibor Bodor, CEO of ING Bank, host of the event.

The role of finance, regulation and companies in conserving natural diversity and circular solutions associated with this were the topics of the roundtable discussion moderated by Irén Márta, Managing Director of BCSDH, at which Tibor Bodor, CEO of ING Bank, Dr. Barbara Botos, Travelling Ambassador for Climate Affairs and Climate Diplomacy of the Ministry of Technology and Industry, Norbert Holczinger, Head of Department of the Hungarian National Bank, and Marianna Pinczés, Managing Director of Virgin Oil Press Ltd., discussed the relevant issues, also providing insights into relevant events at COP27, which concluded last week. The key message is that the current crisis is forcing an acceleration of change, but we need to prepare for this in the longer term. It is no longer enough to set long-term targets: we need intermediate targets, metrics, and concrete steps to drive real change and ensure that the taxonomies that are being developed do not come as a shock to the business sector.

The second roundtable discussion of the event moderated by Bálint Horváth focused on international business development experiences with the circular economy and sustainability. Among the participants were Roman Gdovjak, Cyrkl (Expansion Manager & Country Manager Slovakia & Hungary); Agata Frankiewicz, CEO and Founder of Deko Eko; Martijn Veltkamp, Design Manager at FiberCore Europe; Lennard de Klerk, owner of Irota EcoLodge; and, Martin Basila, CEO of Sensoneo.

The main message of the panel discussion was that waste is ‘eternal,’ so it can be an eternal problem or an eternal business opportunity. The interlocutors shared their experiences in terms of how they create opportunities related to this problem and how they have expanded their activities to several countries and continents, and what plans they have for expansion in Hungary.

BCSDH – one of the founders of the Circular Economy Platform – strives to be a community of highly committed companies and business leaders, and is encouraging and supporting its nearly 130 member companies – and, following them, the business sector as a whole – to go ‘beyond emissions’ and focus on biodiversity conservation and restoration and reversing growing social inequality.

This is what our Time to Transform 2030 (a decade-defining program built on the achievements of Action 2020) is all about, to which our Circular Economy Platform is also connected.

Thanks for the sponsors of the Circular Economy Platform in Hungary:

24.11.2022

Meeting the 1.5°C target cannot be achieved without the circular economy

News

Implementing the strategies for achieving a circular economy would reduce global greenhouse gas emissions by 39%. How to achieve climate goals through the circular transition? – this burning issue was at the heart of the fourth Circular Economic Summit, which was held with the participation of almost 170 people on 25 November 2021.

The world as a whole is a long way from operating as a circular economy. The circular economy involves a number of tools and complex systems and is one of the most effective things we can do to tackle climate change and rebuild biodiversity. The biggest circular event of the year (held with the help of ING Bank) provided a number of corporate and start-up examples of the circular economy and an overview of international processes.

Today, the Circular Economy Platform, which was established at the initiative of the Hungarian Business Council for Sustainable Development (BCSDH), the Dutch Embassy, and the Hungarian Ministry of Innovation and Technology, consists of 94 members. These institutions have highlighted knowledge-sharing, collaboration, and immediate action as the platform’s most important tasks.

Tibor Bodor, CEO Hungary & Head of Wholesale Banking CEE said the following: “we see more and more market-makers emerging in the area of the circular economy. This provides us with a positive view, with the expectation of increasing the speed of sustainable transitions.”

The world is facing three critical challenges: a climate emergency, loss of natural diversity, and growing social inequality. Climate change is not a phenomenon of the future: we are already increasingly experiencing its effects in the form of heat waves and droughts, torrential rain, and even severe windstorms. Most of the effects of the climate change will take place through water-related changes.

A substantial acceleration of ambition and action is needed to meet the Paris Agreement targets. One of the main successes of the now-concluded COP26 is that more ambitious, net zero-emission national commitments have been made. While three weeks before the event global emissions targets covered only two-thirds of those required to reach net zero, after COP26 they had increased to 90%. Hungary wants to be a net climate-neutral country by 2050 and has also committed to a 55 percent national reduction in emissions by 2030.

“Companies also need to act now. A company that does not change in time is taking a serious risk. No longer can ‘low-carbon’ be the sole objective: climate neutrality must be achieved urgently through new technological solutions and the spread of the circular economy and rapid changes in consumption patterns at all levels – highlighted Attila Chikán Jr, President of BCSDH. “As in so many other areas, companies are leading the way, and a growing number of them are already integrating circular economy principles into their strategies. For the time being, these solutions are mostly seen as new business opportunities alongside preexisting ‘material-intensive’ processes. But the aim should increasingly be to replace the latter, as this can only slow down the use of natural resources” – he added.

Of all the natural resources water deserves special attention, as the basis for effective climate adaptation. In addition to an increase in the average temperature, Hungary is expected to be hit hardest by a growing water shortage. Implementing circular water management is urgent and necessary.
This should contribute to keeping water resources in the system for as long as possible, thereby helping to reduce the water footprint.

At present, Hungary is not managing its natural resources wisely, and it is still some way from achieving a circular economy, but it is encouraging that the Hungarian legislative process has started to address the circular economy. These are important steps that will help ensure that Hungary’s further development does not happen at the expense of its natural resources.

The guest speaker at the Circular Economy Summit was Vojtech Vosecky, a leading expert in the field of the circular economy and associate at the one of the world’s leading transition organizations, Circle Economy. He gave a presentation about the links between climate protection goals and the circular economic transition.

Measuring circularity on a company level – and the CTI system and its practical application, as developed by the WBCSD jointly with KPMG – was the topic of the roundtable discussion led by Irene Martinetti, WBCSD Circular Economy Manager.

In addition to learning about a number of international and domestic examples of circular water management, including corporate and start-up solutions, the Circular Regions Project was introduced to provide an overview of the potential of regional cooperation on the topic of the circular economy.

“The Circular Economy is becoming a significant pillar of the Netherland’s diplomatic activities and this region is playing an important role in that. It is good to see that the regional approach is also represented here today, where our practices inspire other countries and we get inspired by the examples of others, showing how the circular transition can respond to the complex ecological issues of our time” – added Désirée Bonis, Ambassador of the Kingdom of the Netherlands to Hungary.

Transitioning to a circular economy is a great business opportunity today. The core of the concept is not yet deeply understood by most companies, although the use of this model can increase the resilience of the world economy and facilitate the achievement of the Paris Climate Change Agreement and the United Nations Sustainable Development Goals. The circular economy could generate business opportunities worth $4.5 billion worldwide by 2030.

Thus, within the Circular Economy Platform’s highly successful Circular Economy Academy, participants benefit from insight from renowned experts about circular performance measurement systems, food waste, and circular design. Furthermore, they have been able to learn about the latest circular business models through innovative international and domestic examples. The work continues, while the focus remains on knowledge-sharing, collaboration, and action.

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The Circular Economy

According to the current so-called linear economic model, technical and biological components are extracted from nature, transformed, and are then disposed of without recycling.
In contrast, in the circular economic model, metabolic processes occur in a closed circle, waste is almost 100% recycled, and biological and technological components are returned to the cycle with minimum loss of quality.

Thanks for our Sponsors in 2021:

25.11.2021

Regional cooperation and action is needed – Sustainable circular food systems contribute to tackling climate change

News

The circular economy involves a number of tools and complex systems for making the food supply more sustainable, which is one of the most effective things we can do to tackle climate change and rebuild biodiversity. The third Circular Economy Summit, held on 26 November 2020, focused on food and biodiversity and provided a number of corporate and start-up examples of the circular economy and an overview of international processes.

Today, the Circular Economy Platform, which was established at the initiative of the Hungarian Business Council for Sustainable Development (BCSDH), the Dutch Embassy and the Ministry of Innovation and Technology, consists of 88 members. These institutions have highlighted knowledge-sharing, collaboration, and immediate action as the platform’s most important tasks.

As the world’s population continues to grow, age, and urbanize, climate change is occurring much more strongly and rapidly than many thought it would; biodiversity is also declining at a faster rate than at any previous time in human history, yet the risks associated with changes in nature are still underestimated in business decision-making.

„The extraordinary challenges, the uncertainty, have put significant pressure on leaders to make immediate, short-term decisions that help deal with the pandemic. However, it is critical that such short-term measures and the post-pandemic economic crisis do not overshadow the need to deal with issues such as climate change or sustainability, and that critical long-term decisions on which our future depends are taken as soon as possible.” – highlighted Attila Chikán Jr, president of BCSDH. „The pandemic has shown that we are able to have an impact on climate change, but also that this can only be achieved at the cost of significant sacrifice. Initiatives such as the UN’s Race to Zero program designed to foster climate neutrality, and the European Green New Deal are of vital importance. One very essential component of this activity is the transition to a circular economy. The business sector is playing a key role in these initiatives: it is thus time to take action.” – he added.

New government regulations, including food waste management, are one of the keys to creating circular food systems and sustainable agro-financing, while new innovative corporate solutions that involve the implementation of circular farming can also help in the process.

„Circular economic goals can only be achieved with the active participation of the actors involved. In order to generate interest, we need to create conditions that help economic actors to embark on this new path to become interested in learning and applying the new approach. The Ministry of Innovation and Technology, as a founding member of the Circular Economy Platform, aims to better understand the interests of economic actors when transposing legislation setting circular economic objectives.” – highlighted Ferenc Hizó, deputy state secretary, Ministry for Innovation and Technology in his speech. „The vision of our medium-term National Waste Management Strategy, which is currently being prepared, is to make the Hungarian waste management sector one of the exemplary models of the circular economy in Europe. The measures we are planning aim to develop a waste management infrastructure that ensures the efficient use of state resources and increases the competitiveness of the waste management sector. This can benefit all actors in the sector and is expected to have a positive impact on investment in the sector.” – he added.

The guest speaker at the Circular Economy Summit was Christian van MAAREN, founder of the exemplary Dutch Excess Materials Exchange, which supports the secondary market for wastes and surpluses. In addition to learning about a number of international and domestic examples, including corporate and start-up solutions, the Slovak Circular Platform was introduced to provide an overview of similar processes in the Visegrad countries.

“We need a truly green and fair transition toward zero emission. We must ‘Build back better’ in order: To make sure that the EU and its member states converge to the highest levels of competitiveness. To strengthen the EU’s geopolitical and economic standing in the world, backed up by strong member states. To be global leaders in standing up for our EU values, transparency and free competition based on the rule of law.” – added René van Hell, ambassador of Embassy of the Kingdom of the Netherlands.

„The circular economy offers a systemic answer to the climate crisis and as such is an important solution towards limiting global warming as close as possible to 1.5°C. ING as a bank have to value differently, treat risk differently, and finance differently when it comes to the circular economy.” – said Bodor Tibor, Country Manager of ING Wholesale Banking Hungary in his speech, as one of the hosts of the conference.

Transitioning to a circular economy is a great business opportunity today. The core of the concept is not yet deeply understood by most companies, although the use of this model can increase the resilience of the world economy and facilitate the achievement of the Paris Climate Change Agreement and the United Nations Sustainable Development Goals. The circular economy could generate business opportunities worth $ 4.5 billion worldwide by 2030.

Thus, within the Circular Economy Platform’s highly successful webinar series, participants could benefit from insight from renowned experts about the theoretical and practical foundations of the circular economy, as well as details about the legal framework. Furthermore, they were able to learn about the latest circular business models and product design procedures through innovative international and domestic examples. The work continues, while the focus remains on knowledge-sharing, collaboration, and action.

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Circular economy

According to the current so-called linear economic model, technical and biological components are extracted from nature, transformed, and are then disposed of without recycling.
In contrast, in the circular economic model metabolic processes are involved in a closed circle, waste is almost 100% recycled, and biological and technological components are returned to the cycle with minimum loss of quality.

Special thanks to our sponsors:

26.11.2020