Online tool helps companies understand and
advance their circularity journey
PHOENIX, Oct. 2, 2024
/PRNewswire/ -- Circularity, the concept of maintaining the value
and use of materials as long as possible to minimize waste and
resource consumption, is critical for businesses to reduce their
environmental impact and achieve sustainability goals. Republic
Services, Inc.
(NYSE: RSG), a leader in the environmental
services industry, today launched the Circularity Index, a no-cost
online tool to help businesses understand and optimize their
circularity journey to positively impact the environment and their
bottom lines.
According to the U.S. Environmental Protection Agency, more than
300 million tons of waste is generated each year in the U.S., and
over 60% of it is either landfilled or incinerated. Companies can
mitigate increasing environmental and consumer concerns
by shifting from a linear "take-make-dispose" model to a circular
approach, optimizing resource use and diversion opportunities to
minimize waste generation and advance sustainability.
"Companies have set ambitious sustainability goals, but many
need additional knowledge or tools to effectively achieve them,"
said Amanda Hodges, chief commercial
officer at Republic Services. "We developed the Circularity Index
to help companies assess their circularity initiatives and provide
a roadmap to help them achieve their goals."
Republic Services, in partnership with The Harris Poll, asked
1,200 sustainability leaders at companies across 10 U.S. industries
to rate their organization on 21 aspects of circularity. The
research showed that 87% of companies plan to invest more in
circular initiatives over the next two years, but most lack the
needed expertise, tools and prioritization. Republic Services
developed the Circularity Index to benchmark companies by industry
on their circularity journey and help them accelerate their
efforts.
The Circularity Index places companies on a five-point maturity
curve, from Novice to Expert, to help them understand the maturity
of their circular initiatives relative to peers across three
categories:
- Commitment: to what extent are leadership,
resources, goals and budget aligned with circularity-related
initiatives
- Execution: how well an organization plans, implements
and measures progress to achieve its circularity goals
- Recovery: the degree to which circularity programs are
achieving waste minimization and diversion, and increasing material
reuse and recycling
The research shows that many companies are still in the early
phases of their circularity approach and initiatives: 45% of all
companies fall into the lower Novice and Emerging categories. On
the high end, only 12% of companies have achieved Expert status.
Industries that are more advanced in their circularity efforts
include consumer packaged goods, manufacturing and
energy/utilities/environmental services, while government has the
most opportunity to drive circular initiatives.
Other findings include:
- 65% agree that everyone wants to advance sustainability, but
few know how:
-
- 75% lack the necessary tools.
- 83%
want senior leadership to grant more room to prioritize initiatives.
"Most companies acknowledge the need to take action to improve
circularity, but many do not know where to start or how to advance
their initiatives in a way that provides both environmental and
economic benefit," added Hodges. "We are committed to
helping companies further their circularity journey."
Companies can use the Circularity Index to assess and benchmark
current initiatives versus industry peers and follow the tool's
guidance and roadmap to set goals and enhance the circularity of
their operations.
The Circularity Index builds on Republic Services' expertise in
waste diversion and circular solutions. For more information about
the Circularity Index and to take a brief circularity assessment,
visit RepublicServices.com/Circularity.
Circularity Index Webinar
A webinar will be held at 1 p.m. Eastern
Time on Wednesday, Oct. 16 to provide an overview of the
Circularity Index and industry-specific results, and answer
questions about the tool. Webinar Registration Link:
info.republicservices.com/circulatorywebinar2024.
About Republic Services
Republic Services, Inc. is a leader in the environmental services
industry. Through its subsidiaries, the company provides customers
with the most complete set of products and services, including
recycling, solid waste, special waste, hazardous waste and field
services. Republic's industry-leading commitments to advance
circularity and support decarbonization are helping deliver on its
vision to partner with customers to create a more sustainable
world. For more information, please
visit RepublicServices.com.
Republic Services Media Relations
Media@RepublicServices.com
(480) 757-9770
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SOURCE Republic Services, Inc.