Economic growth requires a circular economy.

March 20, 2024

Subjects:

Age test

Do the age test Yes, please! How are your employees doing? Happy and motivated teams are the driving force behind every successful company. Thanks to...

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.

Facebook
Twitter
LinkedIn

Do you have any questions?
Need a custom quote?

annelies theunissen

Annelies Theunissen
People Sustainability Expert

Also interesting

May 24, 2024

Many companies are required to submit a CSRD report for the fiscal year 2024. Is your organization prepared for sustainable reporting and well-being?

May 22, 2024

“Putting the Social in ESG” We are pleased to announce our upcoming event focused on the importance of social factors in a successful ESG strategy....

May 13, 2024

Corporate social responsibility, ESG, and sustainability are now well-known within the business community. Moreover, an increasing number of companies are becoming aware that they will...

Download the Trend Report 2024: 'Well-being & Sustainability'

Want to know more about the social weight of ESG in sustainable business​?

e book 2024 en