China-EU agreement paves way for global adoption of circular economy
Ellen Macarthur Foundation - China and the European Union (EU), world leaders in circular economy policy, sign a Memorandum of Understanding on Circular Economy Cooperation at the 20th EU-China Summit in Beijing on 16th July.
Transition to a circular economy in the world’s two largest economies could accelerate adoption of circular economy practices at a global scale, creating potential for a ‘system shift’ towards a low carbon, regenerative economy
- New analysis from the Ellen MacArthur Foundation finds that transition to a circular economy in China’s cities could make goods and services more affordable for citizens, and reduce impacts normally associated with middle class lifestyles, such as traffic congestion and air pollution. Earlier research found that Europe could, by 2030, add €0.9 trillion to its GDP by moving to a circular economy, while halving its CO2 emissions
China and the EU have signed a joint Memorandum of Understanding on Circular Economy Cooperation at the 20th EU-China Summit taking place in the Chinese capital on 16th-17th July. Both stand to gain from aligning on policies that support the transition to a circular economy, which can unlock new sources of economic growth and innovation while benefiting people and the environment, for example by reducing pollution and congestion.
"China has long been a pioneer of circular economy policies and practices, and Chinese cities are hubs of circular economy innovation. Transition to a circular economy presents China’s cities with significant opportunities to create new value, economic growth, and further drive that innovation, while becoming more liveable for citizens. Collaboration and sharing of knowledge and best practices are key to unlocking these opportunities. Closer alignment on the circular economy between China and the EU is a significant step, paving the way for a global shift towards an economic system that works for business, people and the environment".