Articles
Circular economy in Luxembourg - a pattern for success?
Posted: 2015-02-12
Circular economy is a type of industrial economy that mimics natural ecosystems: materials are cycled infinitely, energy is derived from natural resources and the ecosystem is being looked after. This concept could have tremendous benefits for the countries that would adhere to it and Luxembourg officials seem to believe that the Grand Duchy is an ideal place to try the circular economy pattern. In time, it could enhance competitiveness, increase employment and reduce the environmental impact. Certain business fields could even benefit from an increase in investments.
Luxembourg: a testing ground for circular economy
A recent study performed by the international institute EPEA revealed that Luxembourg is a good testing ground for the circular economy. The Grand Duchy is already ahead of many other countries in terms of circularity and leading the way in some industries. The potential to expand this concept to other business and economic areas in Luxembourg is substantial and the circular economy model is becoming imperative for Luxembourg.
First of all, Luxembourg has one key ingredient in this economic model, namely a healthy and even exemplary society based on important values like equity, cultural tolerance, economic stability and diversity and a responsive government. The potential to develop the circular economy model exists not only in select industrial areas, but also in traditional industries like construction, manufacturing, retail, logistics or advanced industries like robotics.
Pilot programs in Luxembourg
In order to achieve the implementation of the circular economy model, pilot projects need to be commenced across numerous economic sectors in Luxembourg. Potential pilot programmes that should be launched in 2015 are in the administrative services sector, the construction and financial sectors, in logistics, manufacturing, marketing, procurement and research and development.
Luxembourg officials believe that the implementation of this economy model would generate important savings. It was calculated that almost one billion euros could be generated from annual savings related to procurement costs for companies. Also, the circular economy model would create more than 2,000 jobs in the future.
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