A paradigm shift: Dr. Janez Potočnik and the Circular Economy
Dr. Janez Potočnik, a prominent Slovenian economist and architect of the circular economy, emphasizes the importance of a paradigm shift in our economic thinking. He argues that the current economic growth model is too narrowly focused on physical capital.
Human and natural capital are undervalued. In this era of global interconnectedness, a more balanced approach to economic, social, and planetary progress is essential.
The Evolution of Economic Metrics: Towards a Circular Economy
Potočnik advocates for a reconsideration of Gross Domestic Product (GDP) as the sole measure of growth. He emphasizes the need for alternative metrics that take into account well-being and sustainability.
This shift is crucial to integrate environmental impact and climate damage into our economic evaluations. The health of our planet must become the driving force behind long-term development and prosperity.
Inclusive businesses as engines for success
The importance of inclusivity in corporate cultures is becoming increasingly evident. Research, such as that from McKinsey, confirms that companies with diverse boards of directors demonstrate significantly better financial performance.
In 2023, it was found that companies with greater diversity in both gender and ethnicity on their boards of directors are significantly more likely to be financially successful.
Diversity and Inclusion: Feasibility Checks in the Circular Economy
Feasibility checks can be an effective tool to promote diversity and inclusion in the workplace. Companies that embrace diversity can utilize these checks to fund programs and initiatives aimed at hiring and retaining diverse talents. This includes training for inclusive leadership, mentoring programs for minority groups, and workshops on cultural sensitivity. By investing in diversity and inclusion using feasibility checks, companies can not only improve their financial performance but also promote an inclusive work environment that positively contributes to society and the environment, aligning with the goals of SDG 8.
