Earth day consistently serves as a reminder to reflect on the most impactful approaches to sustainability. This year is no exception given society’s recovery from a pandemic that has made us focus on building a better future, and an acceleration towards net-zero carbon commitments from businesses and communities worldwide. New strides are being made in the circular economy and how it applies to different sectors, including capital equipment – high-value products designed, built, and acquired to last. Ranging from MRI machines to wind turbines to data servers, the range of industries and products represented in the sector are as diverse as the sustainability opportunities surrounding it.
Circularity in capital equipment or heavy industry plays a crucial role in decarbonization efforts or the reduction of greenhouse gas (GHG) emissions to sustainable levels. While 6.5% of global emissions and over half the world’s ore production can be attributed directly to capital equipment itself, economically it contributes 13% of value added to the global economy, demonstrating a key circular economy principle of producing more value with less resources. Capital equipment manufacturers and users are building on this to realize the tremendous decarbonization and resource conservation opportunity for manufacturers and users of capital equipment.
About the Author
EcoVadis is a purpose-driven company whose mission is to provide the world's most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis’ expert intelligence and evidence-based ratings to manage risk and compliance, drive decarbonization, and improve the sustainability performance of their business and value chain. Its AI-powered risk mapping, actionable scorecards, benchmarks, carbon action tools, and insights guide a resilience and improvement journey for environmental, social and ethical practices across 200 industry categories and 175 countries.
Follow on Linkedin
Visit Website
More Content by EcoVadis EN