A survey of sustainability executives has found that 86% of them believe the circular economy will be important to their business in next two years.
According to the 2016 UPS/GreenBiz Circular Economy Research Study, this is double the 47% who thought it would be important two years ago.
Respondents said that the biggest adoption of the circular economy model will come from the technology sector, especially electronics such as computers and mobile phones as take back and reuse systems are most easily integrated.
The study also found that three fifths of sustainability executives are beginning to implement circular economy principles in at least one of its product lines or service offerings.
Logistics was also seen as playing an essential role in the circular economy, with 97% or respondents seeing it has very important or somewhat important.
UPS senior director of global sustainability Ed Rogers said: “We are not surprised to see the growing importance of circular economy concepts to business.
“Our customers are recognising the environmental and social impact of their products and operations across the entire value chain, from raw materials and design through manufacturing and logistics.
“They recognise the opportunity to move toward a model that keeps resources in use for as long as possible.”