The Circular Economy Symposium organized by the Change Now Conference brought together some of the leading business professionals and experts to share their views on the challenges and opportunities of the circular economy. 

The symposium began with a chat with Antoine Arnault, the CEO of Berluti and the heir to LVMH, which represents 75 brands of distinguished, high-quality luxury products in six different industry sectors. Contrary to popular opinion, Arnault states that luxury products are compatible with the circular economy due to their durability. Whereas much of our economy is burdened by "planned obsolescence" and throw-away products, Arnault has worked with the LVMH brands to help design high-end, durable products that are environmentally and socially responsible. "My job (with LVMH) is to make sure we work towards greater awareness and greater accountability related to caring for nature and (combatting) climate change," he says. "This affects everything from how brands select raw materials to how we manufacture our products."

Arnault believes that the circular economy model can reconcile the protection of natural resources with sustainable economic growth. "Our products are highly dependent on nature, and our responsibility is to give back to nature what we borrow from it, thus enhancing the sustainability of these products," he says.

Innovative Trends in the Circular Economy

To help create answers to these questions, Szaky focuses on assisting companies in finding ways to recycle everything, including dirty diapers. One development that gives him hope is the increased interest in retailers wanting to be part of the recycling process. He mentions the chain store Target example. They allow customers to bring in their used child car seats and other large and hard-to-recycle products that they had previously purchased at the store. 

Szaky also thinks that moving beyond recycling towards "reuse" is another step in the right direction. Szaky is the driving force behind Loop, a company helping influential brands shift to reusable packages. With Loop, consumers pay a refundable deposit for each package, use the products, and then throw the empty containers into a Loop tote. The reusable packaging is then sent back to the manufacturer to be cleaned and refilled.

The Loop packaging is not the consumer's property but rather the property of the company. "It feels like disposability but is reusable," he says. Szaky believes that convenience is one of the most critical elements to consumers. If there is a way to return the reusable packaging in a simple and straightforward way, most consumers would be on board with this process.

Imagine if home improvement stores, furniture outlets, and every other type of company that manufactures products for your home offered a similar opportunity. Though there are undoubtedly several challenges to the widespread adoption of a circular economy model, it is encouraging to see steps in the right direction.