Waste to Wealth summit held for businesses to reduce avoidable waste

28/11/2018 - 08:16
A Waste to Wealth summit has been held to challenge businesses to reduce waste or turn waste into wealth to prevent ‘catastrophic’ climate change, as part of The Prince’s Responsible Business Network.

Hosted by Veolia last week (November 22) at its integrated waste management facility in London, it is hoped that it will bring together businesses, government, academia and civil society to commit to work collectively to help double the nation’s resource productivity and reduce avoidable waste by 2030.

Attended by HRH The Prince of Wales, Nestle and Sodexo, along with Burger King, European Metal Recycling, Interface, JLL and Sainsbury’s were announced as Waste to Wealth champions.

The champions will develop and deliver innovation hubs to identify challenges, create roadmaps and start to develop solutions.

Before the summit, over 40 businesses signed the Waste to Wealth commitment.

By signing the commitment, businesses recognise the intergovernmental panel on climate change (IPCC) conclusion from October 2018 that there is only 12 years to change out relationship with the resources we use to avoid catastrophic climate change and restore the health of the environment.

Gavin Graveson, executive vice president of Veolia UK & Ireland, said: “As the impact on our natural world is spiralling out of control, it has never been more pressing to assemble leaders of industry to agree a way forward. We still have the chance to balance the scales, but this depends on a colossal effort of business.

“The next generation could look back at the magnitude of mistreatment our environment has received or how we were its saviours. The value from and importance of waste needs to be realised if the UK is to become a beacon of green light and resource powerhouse. “

The signatories have committed to:

  • Set targets to improve the productivity of resources that are key for the business.
  • Work collectively towards doubling the nation’s resource productivity and reduce avoidable waste by 2030, contributing in the way that is most relevant to the business.
  • Redesign how resources re used in products, services and operations
  • Collaborate across organisations, value chains and sectors.
  • Reconvene and report on progress annually to share learning and demonstrate results

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