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Circular Society 2050 (Finance (Reporting (TCFD is required, Natural…
Circular Society 2050
Finance
Investing
Circular bonds
Inclusive and social investments
Risk Assessment
Circular solutions eventually have lower risk profiles
Sharing platforms (asset sharing) changes risk assessment
Externalities are integrated into prices (carbon)
Accounting
COGS & Inventory
Classification of assets & liabilities
Concept of depreciation
Economy
Prices of used products and materials incorporates inherent resource value
National currency exchanges become tethered to crypto-currency
Wealth gap decreases
Reporting
TCFD is required
Natural capital accounting is required
Circularity rating for ESG purposes
Enforced integrated reporting
Accountability for public and private sectors
Technology
Digital transformation
GIS integrated citizen science and product assessment
Improved energy efficiency per unit of data
Better, faster internet for all
Big data feeds AI
Free knowledge sharing and transfer
More systems thinking
Improves efficiencies
Circular design & business models
Sharing economy
Improving ingredient simplicity to improve recoverability
Electronics are sold in closed loop business models
Reverse logistics
Ecological mobility
Industrial symbiosis
Clean Tech
Clean energy
Fossil-fuel alternatives offer same performance
Renewables at zero marginal cost
Free and clean energy for all
Dispatchable energy on-demand
Decentralized production
Materials
Nanotechnology used in responsible sourcing
Bio-based materials
Advanced material processing
Tech advancements drive material scarcity
Water management
Resources become the new money
Reuse of materials for hardware
Urban mining and reuse of existing assets
Material scarcity becomes business priority
Societal implications
Machine learning
Legal aspects of AI
Humans focus on essential activities
Universities and schools adapt
Eco-system thinking
Business model development
Collaboration centered on eco-system thinking
Sustainable innovation is the only type
Policy
Regulations
Traceability
Regulated sharing platforms
Material passports
AI & big data enabled
Material balance
National monitoring
Company reporting into national monitoring
Trade of recyclables and "waste" monitored
Design regulations & standards
Standardization
Harmonization of toxicity standards (e.e. REACH)
Bans on single-use, non-recyclable materials and products
Global policy harmonization
EPR schemes
Definitions, criteria & standards
Business models
Sales only permitted when recoverability can be demonstrated
Flexibility of legislation to address new business models
Societal Consequences
Elimination of waste "mafia"
Exporting of waste to developing markets prohibited
Just integration of informal sector
Incentives
Incentives for secondary resources
No fossil fuel subsidies
Integration of natural and social capital impacts & dependencies
Circular public procurement
Shifting taxes from labor to materials
Carbon pricing
Education
CE included in school curriculum
SDG & Global Compact education
Consumers
Reconnected with local nature
Plant-based diets
Physical travel replaced by virtual adventures
Understanding of what things are made from
Familiarity with how products affect local environment and health
Local heritage is supplemented by global, digital information
Limit consumption to what's needed
Sharing/access instead of ownership
Consumer determine what the want/need, not companies
Quality over new (quantity)
Products are repaired
Functionality is key
Convenience and price still central variables in consumption patterns
Price may be less important when other types of value are embedded within a product or service
Smarter & deeper relationships
Preference for clean and safe products
Impact consumption
Seeking authenticity & transparency
Premium paid for craftsmanship
Seeking collaboration and relationships
Company reputation is critical
Do not support "destructive" companies or industries
Consumer becomes maker
3D printing
Design commons
Crowdsourcing solutions