31 We are amidst some big crises. Climate and ecological breakdown is already causing extreme weather, hitting our food supply, disrupting supply chains and hurting people around the world. Meanwhile, economic inequality grows and millions are left falling short on food, livelihoods, energy, clean water and other life essentials. The economic, financial and business systems of the 20th century will need to adapt and transform fast, if we are to turn this around. Something has been holding back the needed transformation across the business world. According to the 2024 Circularity Gap Report4, «The total amount of materials consumed by the global economy continues to rise: in just the past six years alone we have consumed over half a trillion tonnes of materials – nearly as much as the entirety of the 20th century». While the business world seems more enthusiastic about concepts like sustainability, purpose and circular economy, it is by-and-large failing to transform its product designs, manufacturing processes or supply chain practices. It is refusing to phase out products or clients that will never become sufficiently sustainable or belong to the economy of the future. The business world is clinging on to outdated models of business. Something needs to change. Something can change. 4 Available online @ www.circularity-gap.world/2024
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