WBCSD-KPMG Collaboration Launches Circular Transition Indicators in Japenese
Together with KPMG Japan, the World Business Council for Sustainable Development (WBCSD) released a Japanese version of the Circular Transition Indicators (CTI) v3.0.
The launch happened at the WBCSD's annual Council Meeting, which was held in Tokyo, Japan, this year. Hundreds of business leaders from around the world attended the meeting.
CTI is a simple, measurable way to find how circular products and business processes are. It helps companies figure out what risks they face, what actions will have the most impact to make them more circular, and how their circularity strategies affect their overall sustainability goals.
Organisations work in a circular economy to eliminate waste, boost resource productivity, and keep resource consumption within planetary limitations. Organisations' ability to produce more value by being smarter about how they use and reuse products and materials is at the heart of the business case for circularity.
The Japanese government said earlier this year that it wants the domestic circular economy market to grow from its current 50 trillion yen to 80 trillion yen by 2030. The goal is to reduce carbon emissions by reusing products and resources.
Junichi Adachi, representative director of KPMG AZSA Sustainability Co., LTD., said:
“WBCSD’s approach is based on the knowledge that companies are unable to manage, improve, and accelerate what they do not measure, so expanding knowledge and data on circularity is essential to transforming a business into one that can thrive in a circular economy. It is expected that Japanese companies with complicated and extensive value chains will take time to shift their procurement, design, production, marketing and customer service activities into circular models. The CTI framework is useful for every one of these steps, and it will also be helpful to increase transparency and accountability, redirecting capital toward circular activities to develop sustainable and ambitious business models.”
Irene Martinetti, Manager, Circular Economy, WBCSD, said:
“The Circular Transition Indicators help companies capture more value from products and materials by improving performance across key levers for circularity. CTI can be applied at a process, product, or business unit level, allowing companies to measure circularity consistently - regardless of where they are on the circular maturity curve.”
Suzanne Kuiper, Senior Manager, KPMG Sustainability, added:
“It is great to see the wide adoption of the Circular Transition Indicators and the translation of V3.0 in Japanese. The circularity measurement of material flows, the core of the framework, is accompanied in this new version with some great additions on lifetime extension, greenhouse gas impact and scenario planning. These additional insights will support companies to future-proof their business through a better understanding of their circular performance.”
In conjunction with the release of CTI 3.0, KPMG Japan has released an online seminar in Japanese with Japanese subtitles. The seminar features Suzanne Kuiper from KPMG Netherlands, who was one of the co-authors of the CTI report. The seminar can be accessed here for free upon registration.