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• RETHINKING, EXTENDING, REUSING: HARNESSING DIGITAL TECHNOLOGIES FOR THE CIRCULAR ECONOMY

Date

December, 2023

Author(s)

• One Planet Network

Abstract

Rapidly evolving digital innovations are influencing all sectors of society, creating unprecedented opportunities to accelerate sustainability and circularity. With the emergence of Artificial Intelligence (AI), Blockchain, Internet of Things and Big Data, we are unlocking new ways of exploring our value chains, allowing us to understand, address and communicate pressures, hotspots and impacts – in terms of environmental, social and economic issues. However, an exponentially accelerating digital world brings new risks to our people and planet, from the digital divide to resource use and unmanaged e-waste. These risks cannot be ignored if we are to sustainably make use of digital technologies for our planet and prosperity. Now is the time to work together to harness the power of technologies to promote a circular economy, while addressing barriers and challenges, to ensure sustainability for all. This report brings together more than 30 cross-disciplinary experts from the fields of digital technologies, circular economy, consumer behaviour and sustainable financing to define a critical path with short-term recommendations for both the public and private sector. Rethinking product use and manufacturing, extending product lifespan and reusing materials effectively are fundamental to sustainably transform our systems. For instance, in a circular economy, AI could drastically minimize the unnecessary plastic present in 30 per cent of our packaging. Moreover, as predicted by the Ellen MacArthur Foundation, if we use AI to help eliminate food waste, the global economy could benefit from up to US$127 billion per year in 2030. With this, the One Planet Network commits to co-develop transformative initiatives with market leaders and innovators to accelerate the shift to a circular economy by means of digital technologies.

Citation

evolving digital innovations;sustainability and circularity;Artificial Intelligence (AI);Blockchain;Internet of Things;Big Data

Publisher

One Planet Network

Rights Holder

One Planet Network

URI

https://knowledgehub.pksf.org.bd/collections/ZjZFVVpSYlFpVHNJUm9FRytzajFMdz09