2. REDUCES Interreg Europe
REDUCES - REthinking Sustainable Development in European Regions by Using Circular Economy Business ModelS
The Circular Economy (CE) is about moving from an unsustainable system of consumption and waste production to a one that re-uses more of our resources. CE has lately developed into a rapidly progressing and competitive field of business and innovation. For companies adopting a CE business model it can help them in reducing waste, generating resource efficiency improvements and lessening the environmental impacts of industrial production or, in other words reducing costs.
In the REDUCES project, the potential environmental impacts of CE business models are mapped and processes discovered for regions to not only promote the business models most suitable for them, but also to assess the potential environmental impacts they may entail. The tools will be reviewed and evaluated by the partners & stakeholders during the projects, focusing on the previously recognised most important categories of CE business models. In order to make informed policy decisions about both economically and environmentally most viable business models, their impacts need to be thoroughly assessed.
There is a growing need for a more comprehensive understanding of how regional and local economies can begin the transition towards a CE and of recognizing the most promising economic sectors for its uptake.
REDUCES forms a cooperation network of regions that are on different levels of CE development (the concept is relatively new to Greater Manchester) and have a strong shared will on further supporting their region's businesses in transitioning to a CE. The exchange of experiences and knowledge within and between the regional authorities is key in developing the best action plans to support environmentally sustainable business models for each region and policy. REDUCES results in best practices and policy recommendations which will significantly benefit public authorities and institutions in supporting CE transition.
The REDUCES project will also allow us to support the work in helping Oldham businesses to access contract opportunities within the public sector, and help businesses in Oldham prepare for the emerging Extended Producer Responsibility regulations covering waste management.
The project partners come from across the EU, the lead partner is Turku University of Applied Sciences, the other partners are from the UK, Spain, Holland, Romania, Netherlands and Bulgaria.