The Circular Economy : Building a Vision for Circular New York City

Centers and Institutes

The circular economy is gaining increasing attention in Europe and around the world as a potential way for our society to increase prosperity, while reducing dependence on primary materials and energy. The last 150 years of industrial revolution have been dominated by a one-way or linear model of production and consumption in which goods are manufactured from raw materials, sold, used and discarded as waste. This model has been exceptionally successful in providing affordable products to consumers and material prosperity to billions. Where there is still room for the linear model to expand geographically and realize even higher efficiencies, a global middle class of nearly 5 billion by 2030 will present unprecedented challenges: increasing strain on the environment, increasing stress to access new resources, increasing costs and commodity price volatility. New York City is a global hub for innovation, and our anchor industries such as finance, fashion, and real estate will play a key role in advancing a circular economy. As emerging technologies disrupt traditional business models, anchor and emerging companies alike will benefit from tapping a new vision for value creation, in which economic growth is decoupled from resource depletion. Whether through sharing economy models, leasing models that treat a product as service, or reuse models that keep valuable resources in use and out of the linear waste stream, businesses in New York City have the opportunity to lead the world in creating new markets by transitioning industries to more sustainable long-term growth. How can we use our power as influencers, consumers, and practitioners to drive and support circular innovation in the buildings and communities we inhabit and the clothes we wear? Join RZCCI, SPN and NYCEDC as our panel of leaders in the built environment, fashion, real estate construction, and sustainable community development discuss emerging circular models already in use in New York City, and best practices from around the world that will shape the circular city of the future.