Circular Economy
The global population is consuming resources at an unsustainable rate, and it’s accelerating. The truth, of course, is that the energy transition (and by extension the renewables industry) also generates waste during the lifecycle of projects. Clearly, this is a problem in need of a solution. So, what is Statkraft’s role in implementing a circular economy in renewable energy?
Statkraft’s ambition is to become a circular business by 2050. Let’s break down what that actually means, and why we’ve chosen it as an ambition.
First, what is a circular business? In short, it’s a business that optimises its resources and aims to maximise their value. A circular business’ priorities are based on a deep understanding of resource inflows and outflows, and systematically assesses what the risks, impacts, and opportunities are for the resources it uses.
To become that, we’ll need to take some actions. Among those is prioritising certain materials that we use in large quantities or are very energy intensive (for example concrete or steel). We can then focus in detail on what impacts they have, and what risks they represent over their lifetime.
Another thing that defines a circular business is how it continually looks for opportunities – that can be found in innovation, but also in collaboration. Successful circular businesses can’t afford to be individualistic. Their success hinges engagement and collaboration with other parties or stakeholders.