Sydney, Australia: The Business Council for Sustainable Development Australia, NSW Government’s Sustainability Advantage and the World Business Council for Sustainable Development recently completed a unique training program on the Circular Transition Indicators (CTI) framework.
The training program, which was held over three sessions, provided several Australian companies with a deeper level of understanding of CTI and the online tool, preparing them to implement the methodology into their own operations.
The response to the training was overwhelmingly positive, with many saying it would add to the growing momentum to incorporate the circular economy model into their approach to sustainable growth.
Clare Gallagher, National Sustainability Manager, Built, said “The best thing I took away from the CTI training was that we could be measuring the circularity of our projects or systems and very clearly communicating this using the reporting in the tool. The introduction to the software now gives me the confidence to use it and experiment with different scenarios to evaluate our circular initiatives. Our company have a value of “Be Real” and for the Sustainability and Social Impact team that means being able to set targets, measure and report on the work we do, I see CTI as an immensely useful tool to support circular decision making with such tangible metrics”
Anastasia Konstantelos, Programs Manager Sustainability and CSR, Konica Minolta Business Solutions Australia, said “Prior to attending the Circular Transition Indicator course I had trouble envisaging how companies and economies could move to a circular model. The course and helped me understand how to measure and set out a concrete strategy. We were provided with excellent case studies and tools, and surrounded by like-minded individuals and companies that all shared a commitment to a regenerative economy.”
With transparency and alignment critical to establishing a common language across industries and governments, the World Business Council for Sustainable Development developed the CTI to provide a universal and transparent framework to measure circularity that can be applied to businesses of all industries, sizes, value chain positions and geographies.
Although the use of common indicators for circularity performance is essential to accelerating the transition to the circular economy, the value of CTI for a company goes beyond the calculation in the guidance, analysis and explanation for how circularity drives company performance. The CTI process helps companies’ scope and prepare the assessment and interpret its results, understand its risks and opportunities, prioritise actions and establish SMART targets to monitor progress.
“Australian companies are increasingly adopting the circular economy model into their broader sustainability strategy, including setting ambitious targets,” said Andrew Petersen, CEO of BCSD Australia. “However, it’s important that these companies, as well as governments, are able to accurately and consistently measure their circular performance, which is what the CTI tool allows them to do.”
The training was delivered by WBCSD, KPMG and Circular IQ, and was localised in Australia by BCSD Australia and the NSW Government through Sustainability Advantage.
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About BCSD Australia
BSCD Australia is an Australian coalition of over 70 private and public organisations advocating for progress on sustainable development. Its mission is to be a catalyst for innovation and sustainable growth in a world where resources are increasingly limited. The Council provides a platform for companies to share experiences and best practices on sustainable development issues and advocate for their implementation, working with governments, non-governmental and intergovernmental organisations.
BCSD Australia’s members include leading Australian businesses, from all sectors, who share a commitment to economic, environmental and social development, public sector enterprises institutions, business and industry non-government organisations and community organisations, which in turn represent more than 100,000 Australian employees.
About Sustainability Advantage
Working with medium and large organisations to accelerate the adoption of sustainable practices and nurturing leaders committed to securing a sustainable NSW. Sustainability Advantage has a successful track record of catalysing and facilitating excellence in corporate sustainability. Sustainability Advantage assists organisations to become sustainability leaders by:
· supporting organisations to embed sustainability into everyday practices
· helping organisations to be more efficient and save money by reducing resource and energy use, water use and waste
· encouraging organisations to set ambitious targets to reduce carbon emissions
· cultivating networks and collaborations to solve sustainability challenges and achieve the United Nations Sustainable Development Goals.