Among priorities identified by the Coalition, metrics play a crucial role as they are the basis for quantifying the impact of any other activity related to a circular economy. It is a topic that is becoming increasingly central at the global level and is evolving along with the circular economy theme.
For this reason, in a coordinated effort led by the Coalition for the Circular Economy in Latin America and the Caribbean, ECLAC (Economic Commission for Latin America and the Caribbean), the IDB (Inter-American Development Bank), and the Enel Group organized two roundtables on the state of the art of measuring the circular economy.
Discussions were held at two levels—the institutional roundtable formed of governmental representatives and Coalition members on July 21. On the business side, meetings happened on July 26, where business association attendees brought together the most representative sectors and companies in Latin America and the Caribbean.
Both instances presented a fluid and open dialogue on the current metrics situation and success stories. Also noted during the meetings was the willingness of governments and business associations to form working groups dedicated to proposing standardized, quantifiable, and comparable metrics to enable the monitoring and follow-up of regional initiatives.
The sessions proposed a work schedule with periodic meetings to share the situation and ambitions of the representative companies in the region; present and analyze best practices in terms of metrics; define a roadmap for the transition to circularity. After determining the programmatic platform, the perimeter will be gradually expanded. Periodic open exchange workshops are also planned.
Germán Sturzenegger, Senior Water and Sanitation Specialist at the Inter-American Development Bank:
"The Metrics Roundtables organized in the Circular Economy Coalition of Latin America and the Caribbean context have shown great interest from governments and companies in quantifying the transition to the circular economy. Governments are interested in sharing experiences and identifying indicators to help them measure the transition at the national and regional levels. We at the IDB want to support these processes so that governments have the necessary tools for measurement. As for the round table with the private sector, there is a great opportunity to share case studies of companies in the region and best practices at the regional and global levels. It is also essential to coordinate with the financial sector in this development of metrics with the private sector to accelerate the financing of companies transitioning to a circular economy. There is a challenge ahead, but the Roundtables are an important space to exchange experiences and take action on creating circular economy metrics."
For more information on metrics, please refer to the following documents:
● EU – Eurostat indicators on circular Economy
● PACE - Circular Indicators for Governments
● Enel CirculAbility Model ©