In January this year, the Foundation launched Circulytics — the most comprehensive tool available for businesses seeking to measure their circular economy performance.
Since then, more than 600 businesses globally have signed up to complete a Circulytics assessment — which has helped them create new strategies for better growth by adopting or further embedding circular practices. One quarter of those businesses have an annual revenue of more than USD 1 billion.
Earlier this month, Circulytics won the Circular Innovation Award at the Responsible Business Awards 2020, run by Reuters Events.
In collaboration with our network, we have been working hard to make Circulytics even more comprehensive and improve the user experience.
Circulytics 2.0 has the following new benefits:
- More intuitive indicators, creating a better user experience when it comes to inputting data and making the tool easier to use
- The Outcomes section has more themes, looking at materials, services, water and energy, finance, and assets such as plant, property, and equipment — providing more informative results and a clearer, more comprehensive picture of an organisation’s circularity
- More industry benchmarking — due to the fact we have more data available, from the large number of organisations that have completed a Circulytics assessment, we can now provide benchmarking for more industries, such as consumer goods, enabling businesses to compare their performance to others in their sector
- New indicators for water flows, which is useful for businesses in water intensive industries where water flows are a significant element of their circular economy performance
- Translations in Chinese, Spanish, and Portuguese — making the tool available to more companies globally
Designing the first company-level circularity tool ever has not been an easy task. Evolving it to be more intuitive and aligned with other metrics was a quick win to encourage more companies to use it. But enriching the outcomes category to include more themes such as materials and all packaging types, services, water and energy, finance, and asset detail was absolutely essential. This means it provides more informative results and a clearer, more comprehensive picture of our circularity. In a constantly evolving ecosystem, we strongly recommend regularly completing a Circulytics assessment to understand your strengths and areas of improvements, for a genuine transition to circular economy.
Many businesses, ours included, are rethinking our strategies and looking to build back better with the circular economy. In order to become more circular, we need a tool to measure our circular economy performance and highlight the areas where we can do better — Circulytics does exactly that. Circulytics 2.0 has a number of improvements — one of which is that the Outcomes category includes more themes, looking at materials, services, water and energy, finance, and assets such as plant, property, and equipment. This means it provides more informative results and a clearer, more comprehensive picture of our circularity. Any business that’s serious about the circular economy should complete a Circulytics assessment.
Learn more about Circulytics, including how it can benefit your business, and sign up to complete an assessment.