Deloitte and Circle Economy Consulting announced the launch of a new partnership, aimed at helping businesses realize growing circular economy opportunities and achieve sustainability goals.

Circle Economy Consulting is a newly formed impact consulting firm, spun off from circular economy-focused impact organization Circle Economy Foundation. Alongside the new partnership, Deloitte and Circle Economy Foundation released a new study, the Circularity Gap Report 2024, which indicated that while interest in circular economy concepts targeting the reduction of virgin materials and keeping materials in circulation has grown rapidly in recent years, the share of secondary materials continues to decline, and virgin materials still represent the vast majority of extracted materials entering the economy.

Deloitte UK Partner David Rakowski, who is leading Deloitte’s global circularity offering, said:

“Through our relationship with Circle Economy Consulting and Circle Economy Foundation we’ll bring insights from the Circularity Gap Reports directly to businesses to unlock value. Combined with Deloitte’s end-to-end capabilities, this allows us to create new solutions to help our clients scale circular transformation at the pace and the ambition needed to realize significant commercial opportunity and enable sustainable and resilient supply chains.”

According to Deloitte, the new collaboration aims to help businesses access opportunities in the circular economy, expected to become a $2 – $3 billion market by 2026, in addition to supporting their efforts to reduce material extraction and increase the resilience of their supply chains. Through the partnership, the companies said that they can help businesses with support in areas ranging from designing strategy, navigating regulatory complexity and implementing transformation to data analysis, progress measurement and reporting.

Jennifer Steinmann, Deloitte Global Sustainability & Climate Practice leader, said:

“Prioritizing circular efforts today can help organizations retain a competitive advantage while accelerating progress against their environmental goals. We’re proud to help businesses around the world address their environmental footprint, adapt their value chains, and shift to a circular approach.”

Marc de Wit, Managing Director of Circle Economy Consulting, added:

“Implementing and monitoring circularity are becoming key success factors for businesses to both remain ahead of the game and to comply with anticipated regulation. In joining forces, Deloitte and Circle Economy Consulting will help actualize circular economy principles by empowering clients to take charge of their circular performance.”

Click here to access the Circularity Gap Report 2024.