At the recent COP30 conference, the Global Circularity Protocol (GCP) was introduced as the first global voluntary framework designed to measure, manage, and communicate the impacts of circular economy practices. This initiative aims to establish a standardized method for businesses to report on their circularity efforts, thereby promoting accountability and enhancing overall business performance.

Diane Crowe, Group Sustainability Director at Reconomy, emphasized the significance of this launch amidst a backdrop of contentious discussions at COP30 regarding climate change agreements. While the conference concluded with non-binding resolutions that highlighted divisions among nations, the introduction of the GCP represents a constructive advancement in the pursuit of sustainability.

Crowe pointed out that the framework provides companies with a reliable way to assess their progress towards circularity, which is increasingly seen as both an economic necessity and an environmental obligation. Currently, only 6.9% of resources are recycled or reused globally, indicating a substantial reliance on virgin materials that contributes to a significant ‘circularity gap.’ This gap not only reflects lost economic potential from discarded materials but also underscores the environmental toll of resource extraction, including greenhouse gas emissions and biodiversity loss.

The GCP is expected to facilitate a transition towards a circular economy, which could enhance economic resilience and reduce operational costs for businesses. By adopting circular practices, companies can minimize their environmental impact, safeguard biodiversity, and support long-term sustainability goals. The launch of the GCP marks a pivotal moment for businesses aiming to align with global sustainability standards and address the pressing challenges of resource management and climate change.