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      "text": "Success requires systemic change. Without commitments from all stakeholders and global collaborative efforts, circular transformation will continue to stagnate, delivering only slow and incremental change.",
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      "text": "Circular transformation requiring both operating and business-model changes\nThe current state and limitations of existing approaches to circular transformation\nA system-wide approach to circularity, to unlock its full potential",
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      "text": "The authors of this paper look forward to an engaging discussion and invite all stakeholders to join forces and embark on the Circular Transformation of Industries initiative.",
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      "text": "Bold ambitions have been set by both companies and governments to drive productivity, innovation and growth, achieve supply-chain resilience, reach net zero and dramatically reduce waste. Success requires systemic change. Without commitments from all stakeholders and global collaborative efforts, circular transformation will continue to stagnate, delivering only slow and incremental shifts.",
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      "text": "With an ever-changing landscape in the global economy, industrial companies are forced to rethink their use of resources and their contribution to economic growth. Circular transformation can help achieve robust and sustainable expansion in a resource-constrained world. However, over the past 20 years, companies have often failed to scale their circular initiatives due to a narrowly defined scope and focus on incremental changes to the operational status quo. The circular transformation of industries at large can help companies unlock productivity, innovation and sustainability, but will require systemic change within and beyond the four walls of organizations, and the involvement of all stakeholders, including government, academia and civil society.",
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      "text": "To inform the global discussion on the circular transformation of industries at the World Economic Forum Annual Meeting 2023 and beyond, the following pages outline key areas for stakeholders to focus on to accelerate the shift and achieve robust and sustainable growth:",
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      "text": "To help stakeholders navigate and accelerate this paradigm shift, the World Economic Forum, in collaboration with Bain & Company, the University of Cambridge and INSEAD, has launched the Circular Transformation of Industries initiative. The initiative takes a broad approach to shaping the dialogue between leaders, setting out to consolidate information from previous circularity initiatives and other ongoing and sector-specific efforts to understand how to bridge the gap and create peak maximization of circularity in industries and economies today. The purpose of this paper is to engage leaders across all industry sectors, government, academia and civil society to share insights, best practices and lessons learned, and forge new partnerships to accelerate the circular transformation of industries.",
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