Ninety-one per cent of Indian companies raised their sustainability investments in 2023, and 85% of businesses worldwide increased their sustainability efforts. However, the Circularity Gap Report 2024 suggests that over 70% of global organisations are yet to implement a circular economy initiative.
With climate change, resource depletion, and waste generation reaching critical levels, sustainability and circular economy have moved from buzzwords to action points. These concepts are now at the heart of international agendas, driving transformative changes across organisations, industries, and policy discussions. Sustainability is a multifaceted concept that balances economic growth, social equity, and environmental protection. The Brundtland report, Our Common Future (1987), brought prominence to sustainable development, defining sustainability as a concept that emphasises meeting present needs without compromising the ability to meet future needs. Embracing a circular economy strengthens this balance by transitioning from a take-make-waste linear model to a restorative and regenerative framework.
Sustainability and circular economy are intrinsically intertwined, with the latter serving as a framework to achieve sustainability goals. Together, they can drive a systemic shift towards responsible production and consumption in India. Achieving sustainability through a circular economy requires collective efforts and calls for collaboration between governments, businesses, academic institutions, and civil society organisations to work in tandem for policy alignment, innovation, and investments. addressing India’s climate and resource challenges.
Therefore, it is essential to recognise sustainability and circular economy as means to achieve multifaceted economic, social, and ecological benefits. However, systemic change cannot occur without a shift in people’s behaviour and practices. The famous author and advisor John Elkington rightly said that behavioural change is more important than individual product choices. Changing habits and shifting mindsets can drive profound progress in sustainability, far beyond the impact of merely choosing eco-friendly products.
