Report outlines path to resource-efficient future

The World Economic Forum has published a report on how consumption can be made more sustainable through decoupling growth from environmental impact. It is based on four years of consultation with leading businesses on the issue of sustainable consumption, and outlines the necessity and opportunities of introducing more resource efficiency measures.

The report outlines some of the potential economic benefits of a greater focus on resource- and energy-efficient production:

• Up to $2 trillion could be saved by introducing resource-efficiency measure across the key sectors of carbon, steel and iron in the major economies.
• If consumer goods industries increase their energy efficiency, they could potentially save US$ 55.5 billion in 2030.
• More resource-efficient approaches to manufacturing and increased recycling rates would deliver savings of as much as US$ 46.9 billion in 2030, equivalent to a more than 50% reduction in steel costs.

• Transform demand: The consumer is at the heart of sustainable consumption, but consumers care more about price, performance and convenience than sustainability. Businesses need to engage with consumers to ensure they are able to match their actions with their desires to consume more sustainably. 
• Transform value chains: Companies need to embed sustainability across the entire organization to be more efficient, innovate to tap into new markets and collaborate within and across industries.
• Transform the rules of the game: Intergovernmental processes are not delivering fast enough. Business can help shape the policy landscape in key areas such as the greening of public procurement, reform of harmful subsidies, improving regional trade agreements and enabling long-term investments.