2014
ANNUAL REPORT
+ + +
+
+
+ +
+
+
and recycled resource flows and more diver-
ter and land inputs and to eliminate waste. 2
Contents
RENEWABLE ENERGY ADVANCED AGRONOMIC TECHNIQUES WATER & NUTRIENT RECOVERY
PROCES
SING
nutrients & feed CO-O P supe
rmar
kt
PACKAGING INNOVATION
farmdire
ct
CONSUMER
SHORTER & MORE TRANSPARENT CHAINS »» p.25
PACKAGING
2,25 tons food per year
INDUSTRIAL BIOREFINERY »» p.14
URBAN BIOREFINERY »» p.15
ZATION STE STREAMS CROSS SECTORAL INTEGRATION
URBAN FARMING
PRODUCT DIVERSIFICATION
»» p.10
Circle Economy | 2014
»» p.28
»» p.27
Contents
3
CONTENTS
4 WELCOME Circle Economy had an exciting and ambitious year. The organization reached a number of important milestones and is poised to launch a number of new tools and projects. Read more >>
7 EVENTS In order for circular thinking to permeate through society, it is vital that examples of best practice and expertise are spread. To do this Circle Economy participate in and organise various events. Read more >>
»» p.13
10 MEMBER PROJECTS Circle Economy is working with members to identify areas of circular impact that can be created within their system, ranging from large corporates, to smaller SMEs, to our city-based work. Read more >>
18 TOOLS The creation of the circular economy requires tools that can be used to create, assess, and measure circularity. Learn about our progress todate: Circle Scan, CAT, ACT, and Circulator. Read more >> »» p.08 Decentralized remanufacturing can o ff e r h o s p i t a l s a l o t o f v a l u e t h ro u g h re p a i r, re f u r b i s h m e n t , a n d remanufacture of a variety of specialized equipment. Laundry and cleaning can also involve sterilization with high-pressure CO2
INDICATED HOSPITAL
23 FOCUS AREAS
»» p.19 Increased on-site processing of wastes and emissions might include wastewater processing and upgrading (for medical use), rainwater collection and cascading, and using biological waste streams in food cultivation
S p e c i fi c p a r t n e r s h i p s w i t h t e x t i l e suppliers and recyclers can divert a s i g n i fi c a n t a m o u n t o f v i r g i n resource extraction. A shift toward specialized clothing that provides antibacterial properties can be achieved through biomimicry
550 bed hospital Turnover: 300 million 1800 FTE patient-related 600 FTE non patient-related textile recycling & remanufacture
Electricity produced from solar and algae on facad and roof
Hospital will likely become much s m a l l e r, a n d m u l t i - p u r p o s e. Designing for repurposing is key.
A l g a e i s a l i g h t fi l t e r i n g a n d g r e y water purifying building facade concept
Innovations in minimally-invasive surger y, nano -medicine, and in-hospital treating patients allow for shorter stay times overall.
Electric transport services provided by hospitals for patients
Remote healthcare solutions like telesurgery can provide better access to specialized care without the necessary physical presence of surgeons and specialists
Circle Economy has chosen to focus on a few sectors that we believe are key to creating a circular economy. Here we highlight a few of these focus areas: finance, design and textiles. Read more >>
ON-SITE HOSPITAL
REDUCED OVERNIGHT STAYS
TEXTILES
hospitals in developing countries
FURNITURE
component harvesting
MEDICAL EQUIPMEN T
BIOMASS
metal pla wo stic other od
OUTPATIENT
CHP
remote care
28 NETHERLANDS: CIRCULAR HOTSPOT
R
YEL BLAC LO KW W AT WA GR E TE EY WA R TE R
FO OD WA ST E
3D printing & remanufacturing
a l g a e / p h a r m a fi l t e r
biodigester I V fl u i d (and other applications)
laundry & cleaning
REDUCED TOTAL VISITS PER YEAR
rainwater collection specialty refurbishment garden
demineralization wastewater treatment BIOMAS S
sterilization & NUTRIENTS
E BIODEGRADABL
ABLES DISPOS
It is no secret that the Netherlands is becoming a global example of circularity as a solution to the earth’s challenges. Here, find out about the current activities and next steps. Read more >>
STRUVITE
30 FINANCIALS
Specialized refurbishment, equipment upgrading, and remanufacturing can be s u p p l i e d f r o m O E M ’s . Leasing models can facilitate take-back schemes, while providing m o r e fl e x i b l e s e r v i c e s
local farms
»» p.12
municipal wastewater
A much heavier focus on preventative care and treatment from home will reduce overall trips to the hospital, and allow hospitals to focus on specialized treatment only.
No Annual Report is complete without the financial snapshot of the year and outlook for the future. Read more >>
Alternative solutions to the P h a r m a fi l t e r ( s u c h a s p r o c e s s i n g with algae) could preserve the complexity of materials that would otherwise be shredded.
Circle Economy | 2014
4
Welcome
WE LIVE IN EXPONENTIAL TIMES IN MANY WAYS, EXPECTING DISRUPTION TO HAPPEN OVERNIGHT. THE REALITY IS, WE HAVE TO WORK HARD TO MAKE A CIRCULAR ECONOMY HAPPEN, WE HAVE TO CREATE LITTLE PIECES OF ART EVERYDAY THAT TOGETHER PAINT THE CIRCULAR PICTURE. - GUIDO BRAAM MANAGING DIRECTOR, CIRCLE ECONOMY
End of year dinner
Signing RACE
Disseminate knowledge & create wider impact
LAUNCH:
Netherlands into a circular hotspot
N M
IL
2020 BID: To form, coordinate & support a European Remanufacturing Network (ERN)
CIRCLE ECONOMY HOST DEEP DIVE:
TO
5 201
WIN HORIZON
JUNE: De Ceuvel official opening
Robert-Jan van Ogtrop has initial idea
9 200
BOOSTcamp ‘14 4 Full time employees
2013
2010
Building relationships & becoming relevant
2012
Circle Economy | 2014
MARCH: Circle Economy becomes registered at the Chamber of Commerce
First founding members join the platform
Circle of Conciousness emerges & Circle of Action takes shape
Azkonobe & FrieslandCampina
E as stab an lis or hing ga t ni he sa C tio irc n le
BEGIN FIRST MEMBER PROJECTS:
Ec o
no
m y
1 201
MAY: BOOSTcamp ‘13
y k om or on tw Ec ne le he irc t C ing e th and g in exp op el and v De ion s vi
Legal barriers related to the circular economy
2014
PCL AWARD: Funding for tools & Netherlands as a Circular Hotspot
15 Full time employees
ES
t gh ou g th in a ss g cu in fo m & co r ct Be ade pa le n im o
START OF SECTOR APPROACH:
Hélène Smits initiates Textiles Program
ES
Moving to new office
AUG: Guido Braam joins as Managing Director & starts shaping the Circle of Action
Welcome
5
WELCOME
2014
In 2014 our organization began the highly productive process of consolidating its early learnings and started building the organisation we need to exponentially grow the circular economy. Critical to making this happen is the participation of our members in their role as funders and most importantly test beds for effective action and also of our major foundation partners such as the National Post Code Lottery, Addessium Foundation, COmON Stichting, De Hoge Dennen and Stichting DOEN who have enabled us to invest in innovation – allowing for the piloting of projects and learn not just what works but also what doesn’t. As 2014 comes to a close, we find Circle Economy is well positioned for what we believe will be a significant transition into Circle Economy 2.0. Much of our journey so far has been one of finding the practical steps that turn the rhetoric of circularity into reality on the ground, and we are under no illusions as to
how challenging this journey is and will continue to be. However, the practical experience and learnings that have resulted from conducting more than 23 Circle Scans with as many organisations; piloting tools such as our Assessing Circular TradeOffs Tool (ACT) with Philips and in the construction and textile sectors; and diving deeply into the legal barriers to the circular economy with partners such as Allen & Overy all heavily inform our future strategy. Our position as an organization designed to develop practical tools and on-the ground transition has further become core to our dna. This journey could not have been achieved without the inspiring efforts of our outgoing Managing Director, Guido Braam, who has led the Circle of Action since 2012. Guido has brought an energy and relentlessness to the organization that has enabled us to join forces with more than 50 partners from cities to global MNCs to innovative start-ups as well as develop a talented team of professionals. I know I share with you our deep gratitude to Guido for his hard work and dedication to making Circle Economy what it is today. I also welcome our incoming Managing Director, Andy Ridley, to the Circle Economy family and look forward to Andy putting his expertise from Earth Hour -mobilising hundreds of
millions, building global partnerships and catalyzing complex ideas into the mainstream- to work. 2014 was an extraordinary year for our organisation laying the foundations for the next stage in our organizational evolution. We recognize that retaining and recruiting key talent is absolutely necessary for the further professionalization of our organization. We see that strengthening our relationships with our members and funders, creating sustainable revenue streams, and further developing the governance structure of the organization will give us the ability to innovate and scale our efforts. These actions will ensure that our impact is not restricted to a small minority but instead are accessible by the mainstream and can spark the behavior change necessary to create a true circular system in the world – one that is inspired by nature and respectful of the value inherent in our natural systems. Thank you for being part of the Circle Economy journey thus far. I look forward to you continuing with us in the years to come. Robert jan-Van Ogtrop Founder, Circle Economy 2014
Circle Economy | 2014
6
Welcome
Usually, a development like the Industrial Revolution or a new movement in art takes some time to be recognized and named. How different that is for the circular economy. It is still in it’s infancy, but we’ve already labeled it. Maybe that explains why we can be so impatient. If it is so logical, then why isn’t our economy circular yet? We express great gratitude to the foundations that supported us over the past year, most notably Nationale Postcode Loterij, Stichting Doen, Adessium Foundation, De Hoge Dennen, COmON Foundation and KICI Foundation. The generous donations from these parties in addition to funds provided by our members has allowed us to continue building momentum for the circular economy. Becoming a member of Circle Economy means taking a step towards a circular economy. Even though we sometimes complain that the transition to a new economy is not going fast enough, we are proud of the steps we are taking. We thank all the new individuals and organizations that are taking on this path, and praise those that continue to join forces. We believe that collaboration is key for a circular economy. We also believe we should put our money where our mouth is. Therefore, we are very proud that we were able to launch the RACE coalition, with whom we are going to transform the Netherlands into an international hotspot for the circular economy. Thanks to the combined efforts of ClickNL, MVO Nederland, De Groene Zaak, Het Groene Brein, and the Ministry of Infrastructure and Environment we are taking this forward.
It is with great excitement that I join the Circle Economy team. It has been a surprising journey that has brought my family and I from the other side of the world to this ‘circular hotspot’. In many ways this represents the global nature of the challenges and opportunities we face both as citizens and organisations, reinforcing the role The Netherlands has as a leader in circularity.
Among a few of the next steps and ambitions we have set to further fill in the circular canvas are a book discussing the nuances and opportunities of the circular economy in collaboration with our friends at Metabolic, the launch of WHEEL - a program that guides circular start-ups along their journey -, and in working towards the Dutch EU Presidency in 2016 - where circular economy will be one of the main themes - we are working on making the Netherlands a recognized global frontrunner for circular economy by creating tangible examples and making circular economy a mainstream paradigm.
I hope to take a very practical approach to mobilising the circular economy, building on the foundational work done over the last three years and focus on refining, digitizing and scaling our tools, engaging globally and providing open access wherever we can to those who share our common interest in integrating circularity at every level. We have much to prove and learn, but I believe that Circle Economy and those who have and will support its evolution are pioneering not only the most logical approach to a sustainable future but also in developing the 21st century social enterprise.
Guido Braam Managing Director, Circle Economy
Andy Ridley Managing Director, Circle Economy
Moreover, we are very proud that Stientje van Veldhoven joined our Circle of Consciousness, and Herman Wijffels has joined the board of our cooperative.
2014 Circle Economy | 2014
2015
Events
7
EVENTS
HIGHLIGHTS
D N O S A J J M A M F J
In order for circular thinking to permeate through society, it is vital that examples of best practice and circular know-how are spread to practitioners, experts, thought leaders, and key players including business, government, and education. To do this, Circle Economy believes that spreading the word and sharing examples is a necessary part of our work. In the list to the right, we present the 2014 events at which Circle Economy participated by providing content or expertise.
SPRINGTIJ VODAFONE NUDGE JOINT VENTURE: THE CIRCULAR CITY CIRCULAR ECONOMY LAB DUTCH DESIGN WEEK
CIRCULAR ECONOMY LAB
DISRUPTIVE INNOVATION FESTIVAL
WORK CONFERENCE FOR THE SUSTAINABLE ENTERPRISE CRITICAL MATTERS SEMINAR INTERNATIONAL CONFERENCE ON MARITIME & SUPPLY CHAIN MGMT 2 3 SOCIAL INNOVATION NETWORK MEET UP DESIGN LAB AMBASSADORS NETWORK CIRCULAR ECONOMY SEMINAR & EXHIBITION ‘SMART CHEMISTRY’ PBL SEMINAR: GLOBAL CHALLENGES, URBAN FUTURE 3 PRIVATE EQUITY FUNDS 2
GREEN TYRE VAN VINKEN NAAR VONKEN
2
6TH INTERNATIONAL MATERIALS EDUCATION SYMPOSIUM ONTBIJTSESSIE PENSIOENBESTUURDERS 25TH GLOBALCON
2
16TH EUROPEAN FORUM ON ECO INNOVATION SEMINAR CIRCULAR ECONOMY AND BIODIVERSITY MEETING KNOWLEDGE INSTITUTE SUSTAINABLE PACKAGING 2 2 GREEN WEEK BRUSSELS PBL SEMINAR: THE INFRASTRUCTURE OF A SMART CITY RESOURCE: THE FIRST MAJOR CIRCULAR ECONOMY EVENT WORLD BIOFUELS MARKETS CONFERENCE 2 WORLD BIOMASS POWER MARKET NATIONAL SUSTAINABILITY CONGRESS 2 SUSTAINABLE INNOVATION (COPENHAGEN) VGO KEUR ELECTRONED
2 2
Circle Economy | 2014
8
Events
BOOSTCAMP ‘14 The Circular Economy BOOSTcamp is a powerful three day event during which entrepreneurs, designers, officials, scientists and professionals
the area of product design, urban development
collaborate to realize circular breakthroughs
and lifestyle that can turn the Amsterdam
in the city where the BOOSTcamp takes place.
Metropole Area into a circular hotspot. Circle
Together with the local municipality they identify
Economy’s Katherine Whalen, describes the
new opportunities to accelerate the transition from
BOOSTcamp in her own words: “‘We explored
a linear towards a circular economy locally. Many
the crucial role of design for a circular economy
municipalities face challenges that counter their
from
progressive ideas to change the economical chains
opportunities for using waste streams (such
in their city, as for example changing legislation.
as the over 12,000 bikes that end up in the
The goal of the BOOSTcamp is to break through
city’s famous canals each year) as a resource,
those obstacles and build sustainable relationships
and developed circular business models for
that can lead to future action.
consumer electronics that design out waste.
multiple
perspectives.
We
explored
Working so closely with a multidisciplinary In 2014, the BOOSTcamp theme was “towards
group for three days resulted in great results in
a circular city”. The participants collaborated for
terms of breakthroughs, but also in strong bonds
three days on achieving circular breakthroughs in
between the participants”.
Boostcamp ‘14 Credit: Laila Groeneveld
Circle Economy | 2014
Events
9
Boostcamp 2014
Circle Economy | 2014
10
Member Projects
MEMBER PROJECTS
HIGHLIGHTS
In 2014 we continued to pursue opportunities both on a company level as well as on a regional level. We are thankful for all of the collaborators that helped us achieve new insights, which collectively positions our cooperative as a frontrunner of the circular economy. On the following pages we highlight a few of our member projects.
Circle Economy | 2014
Member Projects
11
GAZELLE Gazelle, one of the leading bicycle
We used the Circle Scan method to shed light onto
manufacturers in Netherlands, would
the e-bike sector. Currently, there is little insight into
like to make its electric bicycle brand
where materials used for e-bikes come from and
more circular.
where they end up at the end of life. Through data
As the e-bike sector is expected to grow tremendously over the next decade, creating e-bikes in a circular fashion will enable Gazelle to set the standard
analysis and interviews with Gazelle’s experts we were able to draw a map of the current state of the sector in the Netherlands and define the optimal starting point for a pilot project.
on sustainability in e-bikes.
EUROPE
RAW MATERIAL EXTRACTION AND PROCESSING EXTREMELY ENERGY INTENSIVE
Gazell
e Sph ere o f
Aluminum 615.000 kg
ASIA
Wheels
Steel
POWDER-COATING OF FRAMES EXTREMELY ENERGY INTENSIVE ASSEMBLY (DIEREN)
Outfitting & Accessories
630.000 kg
Influ enc e
Copper
59.150 kg
Motor
Graphite
+ -
67.600 kg
METAL SOURCES (1.40.000 kg )
ASSEMBLY (DIEREN)
Battery
Neodynmium 14.300 kg
GAZELLE E-BIKE ca. 65.000 SOLD/YR
Drive Train
Lithium
1.690 kg
Frame
Plastics
SPARE PARTS
228.000 kg
WAREHOUSE & DISTRIBUTION
OIL
PACKAGING FOSSIL SOURCES (303.000 kg)
Synthetic Rubber 72.800 Kg
GAZELLE (Dieren)
Foam
DISTRIBUTION
1.950 kg
TR RO
A
D DP
N
PO
GAZELLE EXPERIENCE CENTER
MATERIAL RECOVERY
DEALERS ca. 1.000 (NL)
€
E-BIKE SALES EXPECTED TO BE 50% OF NL SALES
E-BIKE USER
Replaced every year (~ 7 changes during lifetime)
PROCESSING
Replaced every 3-4 yrs (~ 1 change during lifetime) BATTERY TAKE-BACK COLLECTED BY STIBAT
E-BIKE USE
+ -
E-BIKE EoL ABANDONED & COLLECTED
se Ph as e
(57y rs)
DISCARDED
U ike E-B
RESOLD
Gazelle current state map
Circle Economy | 2014
12
Member Projects
!
Leasing programs for furniture and textiles already in place
!
O LV G i s r e d u c i n g volumes ordered and packaging for food items.
!
Procurement
ENERGY FROM GRID (50 million MJ)
An average of two MRI machines in a hospital will use 1.920 kWh per day (or 5% of total energy use). 38% of this energy is consumed while on stand-by mode
!
!
A change to LED technology can reduce energy consumption of lighting by up to 50%
!
which is a barrier t o u n i fi e d sustainable sourcing policy
INDICATED HOSPITAL
30% of total waste originates from operating theatres (within “high care”)
!
550 bed hospital Turnover: 300 million 1800 FTE patient-related 600 FTE non patient-related
Pa p e r, p l a s t i c s , fu r n i t u r e , a n d m e ta l s sold to ICOVA for reuse. Te x t i l e s c o l l e c t e d s e p a r a t e l y f o r cleaning (in Friesland)
Nine sorting bins in place; 15 if plastic is sorted. To t a l p o t e n t i a l f o r r e c y c l i n g u p t o 5 0 % for mixed waste
!
WATER (72 million L)
METALS (± 100.000 kg/yr)
FRAC TION
30 (O
CE M
N-SIT
ETAL S
PLASTICS (± 200.000 kg/yr)
TEXTILE CLEA
NING
FURN
ISHIN
BIOMASS (± 400.000 kg/yr)
DISP
OSAB
FRACTION TOXIC CHEMICALS
G (10 4.1
FOOD (257.2 60 kg ) ODUC TS (35 0.000 kg)
LE PR
OTHE
CHEMICALS (± 400.000 kg/yr)
OVERNIGHT STAYS (138.000)
ON-SITE CHP (85 million MJ) SCAR
R ME DICA (AVG. L EQUIPM 48.00 0 kg) ENT
S (3.00 0
AGEN
50 kg
TS (32 8.500
)
kg) HAND
kg) OTHE
R (325.9
HYGIE NE
AT EX CHAN
71 kg ) ALUM INUM WO (66.00 0 kg) OTHE OD (20.00 R (18.15 0 kg) 0 kg)
GERS
NON-M
EDICAL
WARDS
(2.029
HIGH CARE (8,5 % MEDIC ) AL (16 ,5 %)
E) HE
LIGHT ING PUMP S & FA (24,5 %) TE NS (26 ,9%) VENITCHNICAL EQ LATIO N & COUIPMENT (37 OLOIN ,4 G (11%) %)
kg)
(22 %)
OUTPATIENT (289.000)
& OUT PA (53 % TIENT )
SPECIFI
MONI TORIN DIAGN G OSTIC INTERV S ENTIO LIGHT ING AN N AND TR INTERV EATM D PHON ENT ENTIO NAL X-R ES AY
C HOSP
MIXED
WASTE
REFURBISH & REUSE EQUIPMENT REFURBISHMENT
FROM
MEDIC
EMISSIONS (4.613 tons)
ITAL WA
STE (11 %)
PHARMAFILTER BLACK WATER
WAST
E (63 %)
PAPER (14 %) PLASTIC FO HAZA OD WAST AND GLASS E (3 %) RDOU (3 %) S WAST E (2 %)
AL EQ
GREY WATER
UIPMEN
T
TOTAL VISITS PER YEAR (427.000) INCINERATED MUNICIPAL WASTE (ICOVA and ZAVIN)
SHIPMENT TO DEVELOPING COUNTRIES
Philips Circle Scan: Current State
LAUNDRY BROKERAGE
LEFTOVERS TO FOOD BANK (est. saving 25%)
MANUFACTURING
Decentralized remanufacturing can o ff e r h o s p i t a l s a l o t o f v a l u e t h ro u g h re p a i r, re f u r b i s h m e n t , a n d remanufacture of a variety of specialized equipment. Laundry and cleaning can also involve sterilization with high-pressure CO2
INDICATED HOSPITAL
Increased on-site processing of wastes and emissions might include wastewater processing and upgrading (for medical use), rainwater collection and cascading, and using biological waste streams in food cultivation
S p e c i fi c p a r t n e r s h i p s w i t h t e x t i l e suppliers and recyclers can divert a s i g n i fi c a n t a m o u n t o f v i r g i n resource extraction. A shift toward specialized clothing that provides antibacterial properties can be achieved through biomimicry
550 bed hospital Turnover: 300 million 1800 FTE patient-related 600 FTE non patient-related textile recycling & remanufacture
Electricity produced from solar and algae on facad and roof
Hospital will likely become much s m a l l e r, a n d m u l t i - p u r p o s e. Designing for repurposing is key.
A l g a e i s a l i g h t fi l t e r i n g a n d g r e y water purifying building facade concept
Innovations in minimally-invasive surger y, nano -medicine, and in-hospital treating patients allow for shorter stay times overall.
Electric transport services provided by hospitals for patients
Remote healthcare solutions like telesurgery can provide better access to specialized care without the necessary physical presence of surgeons and specialists
ON-SITE HOSPITAL
REDUCED OVERNIGHT STAYS
TEXTILES
hospitals in developing countries
FURNITURE
component harvesting
MEDICAL EQUIPMEN T
BIOMASS
metal pla wo stic other od
OUTPATIENT
CHP
remote care
R
YEL BLAC LO KW W AT WA GR E TE EY WA R TE R
FO OD WA ST E
3D printing & remanufacturing
a l g a e / p h a r m a fi l t e r
biodigester I V fl u i d (and other applications)
laundry & cleaning
REDUCED TOTAL VISITS PER YEAR
rainwater collection specialty refurbishment garden
demineralization wastewater treatment BIOMAS S
sterilization E DISP BIODEGRADABL
& NUTRIENTS
ES OSABL
STRUVITE
Specialized refurbishment, equipment upgrading, and remanufacturing can be s u p p l i e d f r o m O E M ’s . Leasing models can facilitate take-back schemes, while providing m o r e fl e x i b l e s e r v i c e s
local farms
municipal wastewater
A much heavier focus on preventative care and treatment from home will reduce overall trips to the hospital, and allow hospitals to focus on specialized treatment only.
Scan: CPhilips i r c l Circle e Ec o n Future o m yVision | 2014
Alternative solutions to the P h a r m a fi l t e r ( s u c h a s p r o c e s s i n g with algae) could preserve the complexity of materials that would otherwise be shredded.
Member Projects
13
PHILIPS HEALTHCARE With
Philips
Healthcare
we
are
looking for opportunities to make Dutch hospitals circular by analyzing Philips’ footprint in hospitals. We also seek to gain more insight into the metabolism of hospitals in general, so we can create a circular vision on healthcare. By analyzing the optimal use of Philips equipment by using the ACT-tool (Assessing Circular Tradeoffs) and
Healthcare (Shutterstock)
combining this analysis with monetary flows within the healthcare sector we are able to develop new circular business models. The goal is to develop a closed loop metabolism for hospitals by having a deeper look at the origin of materials. By using smart design, locally available materials will be easier to recycle and the use of critical materials§ can be abandoned. All this comes together with efficient use of energy. Philips can become a frontrunner in hospitals by implementing the circular vision on hospitals.
Circle Economy | 2014
14
Member Projects
RABOBANK Rabobank recognises the need for
future offers the opportunity to create
a change towards circular business
robust and resilient business models
models and wants to explore how
through
to finance circular business ideas.
decreased dependency on scarce
Therefore they have launched a
resources.
increased
diversity
and
circular business challenge with clients Profitable
in the agriculture and food sector.
interventions
such
as
CIRCULAR VISION FOR THE DUTCH AGF CHAIN renewable energy, waste valorization
For the actors in the current Dutch
or collaboration downstream can help
Agriculture
this
finance additional transition steps. The
circular future means transitioning
Circle Economy Challenge is meant
and
Food
chain
Based on the Circle Economy’s vision of a circular economy, the linear Food & Agri system
to help further chart the path and
to today accommodate primary as we know will drastically shifts change.in A circular vision for the A&F sector is aimed at
discover new business production, transport, and minimizing or ideally eliminating the processing current impacts as discussed in the current state, and opportunities at the same timesolutions to provide nutritious healthy food for along a growing theworld way.population. retail in one’s and day to day Core to this circular vision is more synergistic and recycled resource flows and more diver-
business. At the same time, a circular
sified chains to reduce energy, nutrient, water and land inputs and to eliminate waste.
RENEWABLE ENERGY DUTCH AGRICULTURAL EXPORTS (a variety of specialty products)
ADVANCED AGRONOMIC TECHNIQUES WATER & NUTRIENT RECOVERY
PROCES
SING
nutrients & feed CO-O P supe
rmark
t
PACKAGING INNOVATION
farmdire
ct
CONSUMER
SHORTER & MORE TRANSPARENT CHAINS
PACKAGING
2,25 tons food per year
INDUSTRIAL BIOREFINERY
URBAN BIOREFINERY
VALORIZATION OF WASTE STREAMS
Rabobank Circle Scan
URBAN FARMING
PRODUCT DIVERSIFICATION
Circle Economy | 2014
CROSS SECTORAL INTEGRATION
Member Projects
15
FRIESLAND CAMPINA Cow manure is a valuable resource
RoyalHaskoningDHV and OMRIN,
for green energy, clean water, and
we aimed to establish a pilot
refined minerals that we could make
installation for the production of
better use of than we currently do.
biogas,
fertilizer
replacement,
refined minerals and clean water. Through a Circle Scan and system map of the dairy sector we jointly identified
This pilot was the first step in the
the main opportunities and challenges
‘Mest de groene motor’ (Manure:
for
take
The Green Motor) project where
advantage of this abundant resource.
emphasis is placed on connecting
The outcome of the discussion was that
supply
integrated management of nutrients
markets of green energy, fertilizer
in the dairy sector has the highest
replacement and refined minerals,
probability of transitioning towards a
building on research conducted by
circular dairy system. In collaboration
DairyCampus, and the involvement
with FrieslandCampina,
of a broad group of stakeholders.
FrieslandCampina
to
and
demand
in
the
Finding circular opportunities in agriculture (Shutterstock)
Circle Economy | 2014
16
Member Projects
AMSTERDAM In 2014, Circle Economy further refined
between specific interventions and broader
the methodology we use for conducting
systemic
circular scans of cities and regions.
Amsterdam, we will provide an understanding
Building upon the initial exploration of
of resource, energy and financial flows moving
opportunities for circular impact within the
through Amsterdam and the metropolitan
Amsterdam Metropolitan Region, which
region surrounding it. These flows will be
we conducted in partnership with the
connected to services and functional areas
Municipality of Amsterdam in 2013, Circle
in the city such as healthcare, infrastructure
Economy will deliver a practical vision
and jobs. This analysis will give insights in
and roadmap to establish Amsterdam as a
how resource, energy and financial flows
leading circular city for its citizens and as
contribute to the services and functions that
an example for cities globally.
Amsterdam provides. Therefore, the potential
Currently, we are expanding this initial research by strengthening the connection
impact.
Looking
ahead
for
opportunities and interventions needed for a circular economy can be identified.
Municipality of Amsterdam (Shutterstock)
Circle Economy | 2014
Member Projects
Phosphate
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(95.000 tons)
Food (500.000 tons)
Material flows through the municipality of Amsterdam
W a t e r ( 4 4 m i l l i o n m 3/ y r ) (68.000 tons NL) (29.000 tons import)
Energy
Material Imports
(90 million tons)
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+ +
+
storage and distribution
+
Refridgeration and storage
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packaging and distribution
+
+
+ +
packaging and distribution
+
+ Creating a steam net in the PoA can attract new companies while achieving dramatic emissions reductions. (the Port of Rotterdam saved 400kt of CO 2 and 180kt of NO x from Stedin’s steam net.)
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value added step
l clust er
water treatment
water treatment
agriculture+action points
fertilizer and consumer goods
waste to energy
Expand on existing policies and regulations for usedbiological waste collecting biological phosphate waste to include from logistics hubs in the port and at Schiphol.
€
Develop pilot farms and polyculture initiatives to grow high value-added crops locally. Engage communities to operate urban farms, and facilitate knowledge transfer between initiatives.
The Port of Amsterdam water should used develop a shared “plug-and-play” infrastructure to attract new biobased companies. This could focus on residual heat or steam networks but also optimized logistics between locations energy consumed of high organic residue availability.
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Develop a coherent vision for the Amsterdam Metropolitan Area. Set targets for example for the biobased economy that consider ‘added volume’ rather than volume targets.
shops
goods consumed
muniti
es
Material exports (50 million tons) polyculture
production
point of consumption
Focusing on high value added crops and products can increase revenue for local producers, and significantly reduce waste and emissions associated with food imports.
Tourism
Transs hipm and ag ribulk ent
Petro
PORT
ur com
phospate recovery
supermarket
MAPPING AND PLOTTING
Neighbo
water recycling
water treatment
food consumed
A.E.B steam net
1 million MWh/year (AEB)
Agricul ture
OF AM
STERD AM
and flo wers
waste water tre
atmen t
green chem. and bioplastics A.E.B
Circularizing agriculture can help seed biobased innovation by delivering high value feedstocks for emerging bioplastics and green chemical companies in the port.
AMST E
Greening the port
RDAM
The port can be a beautiful place for recreation as well as food production. Opening up marginal lands surrounding the port can clean grey water, provide recreational space, and community gardens.
Bulk organic waste and residues
engage community in urban agriculture
shop
Creati e
wink
el
cluste
r
Urban farming initiatives can provide numerous benefits to residents, from social cohesion to income from high-value crops. Access to recovered heat, energy, and nutrients can build support for community ownership
The port can expand on its collection of biomass and residues from Schiphol. Digesting organic waste from planes can be a reliable source of mixed biomass.
NK
BA
Snapshot of Amsterdam Circle Scan SCHIP
HOL A
IRPOR
T
ZUIDA
S
closed nutrient cycles ICL currently creates fertilizer from residual flows. Building on this success can be done by supporting local and distributed nutrient recover y systems that can capture higher volumes of waste
Circle Economy | 2014
18
Tool Development
TOOL DEVELOPMENT
PROGRESS
We realize that creating the circular economy is easier said than done - that is why we have developed and continue to expand on several tools that will help companies and individuals understand, implement and monitor their journey towards circularity. Here we highlight the tools we have under development. These tools are being developed with insights collected from working with members, or directly in partnership with some of our members and partners. We see these tools being applicable at different levels and therefore very complimentary to each other. THE CIRCLE SCAN is a data-driven process through which materials and resources flows are mapped, identifying the greatest opportunities for circular impact; it can de deployed at various systems levels: city, region, company, or sector; THE CIRCULAR ASSESSMENT TOOL (CAT) is designed for use by financial institutions and governments to assess the overall circularity of an organization to inform investment decisions; THE CIRCULATOR is a tool to track material and resource flows globally, which can have a wide range of uses leveraging the big-data movement; ASSESSING CIRCULAR TRADE-OFFS (ACT) is designed for a business to use to understand circular opportunities in a specific business area or business unit. Circle Economy | 2014
Tool Development
19
CIRCLE SCAN The Circle Scan is a validated methodology applied by Circle Economy across more than 30 projects, which quickly identifies impactful opportunities for systems to become more ‘circular’. The process provides an overview of the current state of any system and determines key leverage points for real system changes to achieve a future circular vision. At the moment, the Circle Scan process is applied by Circle Economy for individual members to provide insights into how these organizations can move towards a more circular state. Circle Economy hopes to streamline and further refine the Circle Scan methodology to make it scalable and open source. This will allow a larger group of decisionmakers to apply the methodology within their broader value chains and systems.
!
MAJORITY OF PRODUCTS ARE NOT RECYCLED OR RECOVERABLE
!
EXPLORE CARPET LEASING OPTIONS AND RELATED SERVICES (INSTALLATION, R E PA I R , CUSTO M I ZAT I O N )
Marc De Wit leads project development
LARGE INPUT OF ENERGY DURING CLEANING NEW PROPERTIES THAT REDUCE ENERGY USE FOR CLEANING, AND PROVIDE ADDITIONAL FEATURES TO CUSTOMERS
Image: Marc explaining circular analysis
REDUCE APPLICATION AND REMOVAL I M PACTS ( N O - G LU E A D H E S I O N , D E S I G N F O R D I S A S S E M B LY )
WOVEN (? m2)
STOCK (??? kg)
BROADLOOM (3.139.507 m2) €
TILES (8.560.477 m2)
SOLD PRODUCTS (43.216.197 kg)
S AND MATERIAL DYEING, OR URING) ELF-HEALING I N C R E A S E L I F E S PA N
WAALWIJK
PRODUCED (??? kg)
SUPPLY: 33,5 million kg
15,1 GJ
SPORT (1.493.329 m2) OTHER (84.408 m2)
? Revist this breakdown
OTHER
ASIA
39,9 GJ
3,700 m
3
MIDDLE EAST DENDERMONDE
EMISSIONS (11.860.000 kg CO2)
SUPPLY: 15,2 million kg
6.500 GJ
AFRICA
CEMENT INDUSTRY (1.874.452 kg)
24.030 GJ
EUROPE
2,300 m3
SOLID WASTE (4.976.459 kg)
S kg) mil SUPPLY: 4,68 million kg
59.000 GJ 138.720 GJ
WOVEN (2.070.000 kg) € 17.0 mil
264.000 m
YARN RECYCLING (1.874.452 kg)
LIQUID WASTE (270.370 m3)
DESSO
RECYCLING PILOT (ca. 1.180.000 kg)
OTHER (236.242 kg)
SOUTH AMERICA
LANDFILL (26.355 kg)
? Revist visualizing the factories and production
BACKING (2.200.000 kg) € 7.90 mil
NORTH AMERICA
Image: Ben Kubbinga visualising a system
INCINERATION (577.895 kg)
MUNICIPAL WASTE WATER MGMT. (268.000 m3)
DYES (35.360 kg) € 646.500 CHEMICALS (36.500.000 kg) € 13.3 mil
OTHER HEMICALS 700.000 kg)
ROADWORKS (1.874.452 kg)
3
TUFT (308.700 kg) € 575.170
MEN 00 kg)
E
ECO
COMPOSTING (8.300 kg)
GOIRLE
YARN 10.000 kg) 31.9 mil
RECYCLING (3.265.987 kg)
OTHER (4.150.000 kg) € 6.30 mil
G H LY R E L I A N T O N S Y N T H E T I C TERIALS DERIVING FROM FOSSIL URCES DEMATERIALIZE FROM VIRGIN EXTRACTION BY DESIGNING FOR PRODUCT RECOVERY AND REUSE SOURCE FOR DEFINED RECYCLED SOURCES, LIMITED NUMBER OF P O LY M E R S U S E D , A N D S E N S I B L E CASCADES WITHIN MATERIAL CHAINS
INVESTIGATE OPPORTUNITIES FOR C O M P L E T E R E C O V E R Y, U P C Y C L I N G , OR INTER-CHAIN CASCADING ( I N T E L L I G E N T, M U LT I - P L A Y E R MATERIAL CASCADES)
Snapshot of Circle Scans WATER AND CHEMICAL USE ARE VERY HIGH IN THE TEXTILE PRODUCTION PROCESS
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MOST INPUTS ARE COMPOSED OF DIFFERENT MATERIALS, MAKING HIGH V A L U E R E C Y C L I N G D I F F I C U LT
LARGE VOLUMES OF WATER, BUT HIGH Q UA L I TY A N D P O S I T I V E I M PACT O N BIODIVERSITY
!
SUSTAINABILITY IMPACT CIRCULARITY OPPORTUNITY
Circle Economy | 2014
20
Tool Development
CIRCULAR ASSESSMENT TOOL (CAT) Investing in the circular economy requires a scientific approach to guide decision making. Currently, environmental, social, and governance (ESG) metrics are used to assess and gauge companies for investment decisions; however, these metrics are insufficient to measure the goals and objectives of a circular economy. Circle Economy has over the past 6 months conceptualized and piloted a unique Circularity Assessment Tool in cooperation with two members. Borrowing from lifecycle, design, waste management, and corporate social responsibility thinking, the tool establishes a framework to define the principles of a circular economy in order to evaluate the circularity of organizations with minimal time and effort. Circle Economy will refine this concept to develop a minimum viable product (MVP) for the Circularity Assessment Tool to guide investment and strategy decisions for investors and companies.
RY BOUNDAR NETA IES A L P
Input Risks
Organisational Improvement
Product/Service Design
End of Use Value Preservation
Shyaam Ramkumar leads the ‘CAT’ tool
Circle Economy | 2014
Schematic of Circular Assessment Tool
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Tool Development
21
CIRCULATOR In a linear economy the production of goods relies on primary resources. However, in a circular economy all resource inputs for the production of goods could come from secondary sources (e.g. recycled materials). Currently there is not an easy way to track where the secondary resource streams occur and their specifications. Circulator will provide transparent information on a interactive map about secondary material streams. It will become “the google maps of resources”, so that discarded materials will become visible to the demand side. Currently Circulator is in the pilot phase.
Merve Güvendik developing Circulator
ASSESSING CIRCULAR TRADE-OFFS (ACT) The Assessing Circular Trade-offs (ACT) tool shows the trade-offs between linear and circular business models, and what the effect of changing materials, energy and labour costs is on revenue. We have been developing the ACT tool by working with organisations such as Philips, ABN AMRO and the Dutch Government and we were able to validate it in the healthcare, construction and textile sectors. The tool will now be brought into a web based environment, allowing better functionality and accessibility.
ACT Platform
Circle Economy | 2014
22
Focus Areas
FOCUS AREAS
HIGHLIGHTS
The focus areas listed here are the first areas that Circle Economy chooses to dive into deeply in order to tip the sector towards circularity. By exploring a sector (such as textiles) or cross-cutting areas (such as design and finance) we are able to uncover the necessary leverage points needed to create lasting and impactful change. We have chosen the focus areas for a number of reasons and look forward to adding and exploring others in the future. FINANCE - our premise for focusing on finance is simple: if financial institutions become champions of circularity and invest as such, we can create a great deal of impact. Circle Economy is working with many financial institutions to create tools and resources these institutions can use to make circular investment decisions -- something that once in practice can have huge influence on the rest of society. DESIGN - a cross cutting area that has huge ramifications on society, we see design as a key area where circular change can take place. From designing products in a circular manner, to identifying new business practices and engaging designers around the world to use circular principles in their work, this is an area we see is ripe for circular thinking. TEXTILES - as the first sector that Circle Economy wishes to tip towards circularity, we see the textile sector as one that is ready for change both on the business side and the consumer side. As this sector has a very complex supply chain but is also quite visible for consumers, having impact in this sector can have other far reaching effects. The key to having impact in this sector? Innovation and collaboration. Circle Economy | 2014
Focus Areas
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FINANCE For the transition to a circular economy to take place, funding is needed. Funding that respects and contributes to planatory bounderies and stimulates employment and wellbeing of people. At Circle Economy we are currently developing a vision with relevant stakeholders on how to finance circularity.
ABN AMRO With ABN AMRO we identified leverage points in the demolition and construction sector where changes could lead to significant impacts in moving to circularity. Currently, our analysis has added to the dialogue between stakeholders to discuss with deeper knowledge. Outcomes of the project present the current state, trends and a future vision for the Dutch construction sector.
RABOBANK With Rabobank we have organized The Circular Economy challenge for the Agrifood and Automotive sectors, designed to further chart paths and discover new business opportunities along the way. Profitable interventions such as renewable energy, waste valorization or collaboration downstream can help finance additional transitional steps.
PGGM When making investment decisions, financial institutions should not only focus on past results, but also on future potential and on the wider system. In order to do so we are developing a Circularity Assessment Tool (CAT) for organizations’ with PGGM. A tool that will be designed to complement and expand upon existing Environmental-SocialGovernance (ESG) indicators that are currently used to inform investors.
Making the Finance industry more circular (Shutterstock)
Circle Economy | 2014
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Focus Areas
DESIGN The Circular Design Program aims to foster the development of products appropriate for the circular economy. Many view the elements of the circular design process, including circular business model creation and technical product development, as a chicken vs. egg paradox. Therefore, we work to embed systems thinking in the creation process, and at the same time, focus on ways to increase supply chain collaboration in order for design to be embedded into systems. Looking beyond designers, we aim to motivate people to want to design for the circular economy and equip creators with tooling that allows for making correct circular decisions. At Circle Economy, we believe in order to create the circular economy, we need a new way of thinking about product design. One that: • takes into account a product’s lifespan at the start and designs products in an ‘end to end’ way • goes beyond recycling and finds opportunities to maintain or add value throughout the product’s lifespan This can be achieved through circular design and in working with designers to adopt circular design practices. We have developed a methodology for circular design based on analysis and our work with members, which has been refined through input from designers and forms the ‘Four steps to circular creation’ framework; the basis of our design program.
DESIGN EVENTS DUTCH DESIGN WEEK
As part of the efforts of the RACE coalition to turn the Netherlands into a global hotspot for the circular economy, we created a set of guiding principles for circular design. In a workshop during Dutch Design Week, we had the Dutch Design Week Workshop
pleasure of piloting the principles with a diverse group of knowledgeable designers and design researchers. Our principles draw on existing work of several prestigious institutions, such as the TU Delft and the University of Cambridge. The principles challenge designers to reflect not only on product function, but also its value to the user and the company’s business model. Moreover, they bring in a systems perspective
Presenting to Masters students from TU Delft
on design, so that the designer is aware that his design in part of a larger (eco)system.
Circle Economy | 2014
Focus Areas
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DESIGN PROGRAM CIRCULAR DESIGN TOOLS Through a combination of practical projects with our members and theoretical analysis, the project focuses on generating circular design cases studies, collecting knowledge on circular design, and creating tools to enable designers to implement circular design.
BUSINESS THROUGH CIRCULAR DESIGN
Katherine Whalen presenting the Design Program
This program focusses on working with Dutch manufacturing companies and designers to identify new circular business opportunities through implementing circular design practices. The project takes circular design as a starting point and allows companies and designers to work together to develop new products, services and business models that bring us closer to the circular economy.
DESIGNERS IN THE CIRCULAR ECONOMY
Designer at work (Shutterstock)
In the transition towards a circular economy, new challenges emerge, especially for designers. This project aims to map these new design definitions and investigate how designers can reshape their role by utilizing opportunities that arise in a circular economy. The project maps the acceptance and application of circular design principles and strategies in relation to designers, their networks, and their companies or clients.
Kick-off circular design workshop (Credit: Chantal Bekker)
Circle Economy | 2014
26
Focus Areas
TEXTILES The goal of the Circular Textiles Program is to develop and establish a commercial and scalable model for closing the loop for post-consumer textiles in the EU. This includes identifying and connecting a new circular supply network of textile collectors, sorters, recyclers and producers that together, can realize the circular use of textile resources. In a Circular Textiles Industry, garments that have reached the end of their life are kept within the economy, so that they can be productively used again and again and hence create further value. Closing the loop for textile resources will enable the industry to capture the value of post-consumer non-rewearable clothing, while at the same time reduce the impact of waste and the need for virgin resources. We recognise that order to close the loop, we must understand waste as an indication of inefficient design, production and consumption patterns and shift our focus from the waste management industry to the textile supply chain in its entirety. We must work together with the textile supply chain to develop methods of waste prevention through circular design practice, innovative sorting and recycling technologies, and changed consumer behaviour. Toward this end, the Circular Textiles Program focuses on accelerating the system innovation (design, business modelling, logistics, local/ national regulations, consumer attitudes) needed to allow technological innovation in textile material recovery to reach full impact, through the initiation of several pilot projects and in close collaboration with key industry stakeholders, including collectors, sorters, recyclers, fabric/ yarn manufacturers, fashion brands and designers.
Textile’s waste
Circle Economy | 2014
Fashion designer at work (Shutterstock)
Focus Areas
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TEXTILES PROGRAM VISIONING The Visioning Project is both a theoretical and practical framework and guide, that aims to gather different perspectives from a variety of stakeholders and experts in order to develop a holistic vision for a future circular textiles industry.
TEXTILE SORTING The Textile Sorting Project is focussed on the development of a commercially feasible sorting technology that accurately detects the fibre composition of postconsumer recyclable textile materials to enable high value recycling of old textiles into new textiles.
Hélène Smits presenting the textiles program
POLYESTER The Polyester Project is focused on the development of a robust circular system for post-consumer polyester fibres, through close collaboration the supply chain and the active piloting of chemical and mechanical processes.
CONSUMER BEHAVIOUR
Textile’s Tuesday workshop
The Consumer Behavior Project aims to raise awareness and stimulate sustainable consumer practices with regards to the purchasing decisions we make and the proper disposal of textiles at end of life.
Affecting the end consumers (Shuttertock)
Circle Economy | 2014
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Focus Areas
WOULDN’T IT BE AMAZING IF HOLLAND COULD BECOME A VIBRANT BREEDING GROUND FOR INNOVATION SIMILAR TO SILICON VALLEY, BUT THEN FOR AN OBJECTIVE THAT’S EVEN MORE IMPORTANT AND MEANINGFUL THAN INFORMATION TECHNOLOGY? - GUIDO BRAAM MANAGING DIRECTOR, CIRCLE ECONOMY
Circle Economy | 2014
Rotterdam, The Netherlands (Shutterstock)
Focus Areas
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NETHERLANDS AS A CIRCULAR HOTSPOT
OVERVIEW
The Netherlands as a Circular Hotspot trajectory was started in collaboration with the Dutch Social Economic Council (SER) and is part of a Green Deal with the Dutch Government. With this Green Deal, Circle Economy, MVO Nederland, the Amsterdam Economic Board and the Dutch Government aim to accelerate the transition to a circular economy. Given the Dutch history in trade, the presence of multinationals and innovative SME’s, a strong sustainability movement, innovation clusters such as Brainport Eindhoven, internationally leading scientific institutes and a strong history and culture of multidisciplinary collaboration, the Netherlands is ideal to serve as a worldwide circular hotspot. The three key aspects of the Green Deal are developing a vision on the Netherlands as a circular hotspot, finding the necessary laws and regulations to address and define the role of the financial world in the circular economy. To assist us in becoming the global circular hotspot, the RACE (Realizing the Acceleration to a Circular Economy) coalition was called into action. This programme is a cooperation between
MVO Nederland, Circle Economy, De Groene Zaak, Het Groene Brein, Acceleratio, ClickNL, IMSA and the Dutch government. Within RACE we will not only focus on the technical aspects that are necessary to realizing the circular economy, but also the necessary social and systems innovation.
As such, the RACE programme is comprised of the following activities: • Reducing barriers to realising a circular economy • Taking inventory of existing circular best practices and lessons learned • Encouraging the application of circular principles by designers • Encouraging high value re-use • Stimulating the development of new circular production chains • Involving youth in the transition to the circular economy • Communicating all of the above to the greater public Circle Economy | 2014
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Financials
FINANCIAL YEAR 2014
HIGHLIGHTS
2014 SOURCES OF REVENUE Total revenue for 2014: €1.000.443 Circle Economy revenue came from two main sources in 2014: foundations and memberships. Foundation funding made up 80% of our revenue, with memberships counting for 20%. In 2014, we saw an increase in the diversity of our members: start-ups, mid-cap companies, multinational corporations, and other NGOs and think tanks. The diversification of the membership resulted in a larger member base, but a reduction in the portion of revenue that came from memberships compared to 2013. Foundation income also saw a significant increase in 2014 compared to 2013. Specifically, the Nationale Postcode Loterij, Stichting Doen, Adessium Foundation, De Hoge Dennen, COmON Foundation and KICI Foundation were all donors to Circle Economy. These funds were used to support projects such as The Netherlands as a Circular Hotspot, the Circularity Framework, Circulator and the development of the Circularity Index.
2014 EXPENSE CATEGORIES Total costs for 2014
Total costs for 2014: €1.047.065 Not surprising for an organization such as Circle Economy, the bulk of the costs are derived from our project-related work. Marketing & Communications costs enable the knowledge we create to be disseminated to the public. Operational costs enable our team to further grow and professionalize. Accounts payable costs are resulting from costs incurred at the end of 2013 which were paid in early 2014. Overhead for the organization accounts for roughly 16% of total costs. Due to the growth of the team and the increasing amount of projects, our costs were slightly higher than our revenue in 2014. We see this discrepancy leveling out over the coming years.
Circle Economy | 2014
13.75% Accounts payable 2013
9.55% Marketing & Comms.
16.02% Overhead
8.26% Operations 2014
52.42% Projects 2014
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