The London Waste and Recycling Board (LWARB) has launched its route map to accelerate London’s transition to become a circular city.
By 2036 the circular economy could provide London with net benefits of at least £7bn every year in the sectors of built environment, food, textiles, electricals and plastics, as well as 12,000 net new jobs in the areas of re-use, remanufacturing and materials innovation.
The route map recommends actions for a wide range of stakeholders, including London’s higher education, digital and community sectors as well as London’s businesses, social enterprises and its thriving finance sector. Some stakeholders are already signed up to deliver actions, but LWARB is looking for others to get involved and help make London a city where circular economy businesses can flourish.
Collaboration is vital for the circular economy to succeed and LWARB has also announced a new circular economy collaboration hub. The hub will bring together circular economy innovators from the public, private and third sector to help them develop new opportunities in London.
LWARB chair Liz Goodwin said: “The size of the circular economy prize for London is huge. Cities are the engine room of the circular economy.
“London could receive a net benefit of up to £7bn a year by 2036 if we accelerate our transition, £2.8bn of which can be achieved by delivering the actions in this document. This route map is a major milestone and I would encourage all organisations in London to think about how they can benefit from a transition to a circular economy.”