How chemistry enables the circular economy
Solvay participates in the Ellen MacArthur Foundation Annual Summit
Moving from a linear to a circular economy is essential to help solve today’s most pressing environmental and societal challenges. Now with the COVID-19 crisis underway, there is even more urgency to enable this transition. The good news is that chemistry will help make this happen!
Solvay has been proud to partner with the Ellen MacArthur Foundation (EMF), an organization committed to bringing businesses together to focus on circular economy solutions. This week, Solvay’s CEO Ilham Kadri was a featured speaker at the Ellen MacArthur Foundation’s Annual Summit, which is the world’s leading circularity event. As she explained, “Chemistry is the ultimate technology to enable circularity across the value chain. It is only through chemistry that we can achieve the reuse of products while maintaining their quality and value.”
At the summit, Ilham Kadri also made the exciting announcement that Solvay and Veolia have partnered to create a circular economy solution that will enable the reuse of critical raw materials from electric vehicle batteries (currently, significant amounts of critical metals are not always recovered at their maximum value). This is in line with Solvay’s One Planet initiative, which has the goal of doubling revenues generated in a circular economy by 2030.
Watch the video of Ilham Kadri’s comments here:
Solvay and the Ellen MacArthur Foundation
Strategic Partners of the EMF are companies that are leading the way towards a circular economy. In 2018, Solvay signed its partnership agreement, joining the foundation’s eight other partners at the time (Global Partners Danone, Google, H&M, Intesa Sanpaolo, NIKE, Philips, Renault and Unilever) as the only multinational chemical company.
Known for its expertise and work with businesses, governments, and academia, the Ellen MacArthur Foundation helps foster the economy’s transition from a take-make-dispose model to a more sustainable and economic one. Solvay’s role as a global advanced materials and specialty chemicals is crucial since it supplies most other industries and chemical science is a powerful enabler for material transformation.
When Solvay first joined the foundation, Dame Ellen MacArthur noted, “The chemicals industry lies at the heart of the global economy, so it holds great potential to spark system-level change in the move towards a restorative and regenerative circular economy.”
Why enable a circular economy?
According to the EMF, applying circular economy strategies in just five key areas (cement, aluminium, steel, plastics, and food) could eliminate almost half of the emissions from the production of goods – 9.3 billion tonnes of CO2 e in 2050. This is equivalent to eliminating all emissions from transportation. The possibilities are endless, and Solvay is proud to be part of the circular economy solution!