The state of circularity in the Nordics

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Find out more about Nordic companies’ readiness and their strategic priorities for the transition to a circular economy.

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On 1 January 2024, the EU Taxonomy Regulation's environmental delegated act took effect, with the transition to a circular economy as one of its’ six objectives. But how ready companies are for this transition? And how aware are companies of the benefits and financial opportunities that the circular economy can bring?

We investigated just how prepared Nordic companies are, and how deep their understanding of the supporting legislation is.

: 30%
of the affected companies report extensive knowledge of ESRS E5.
Most companies across sectors and countries are aware of the applicability of ESRS E5 to their business, but a detailed understanding of the requirements is lacking.
Awareness and understanding of the EU CE Taxonomy is even more limited.

: 40%
report financial benefits from their circular economy efforts.
Most progress so far is within waste management and mitigating GHG emissions and other environmental impacts.
About 60% of companies are not yet able to monetise on circular economy topics.
: 70%
Don’t know’ when ready for the circular objective of the EU Taxonomy
Most companies expect that it will be feasible to disclose the requirements of ESRS E5 within 2-5 years. However, most companies are uncertain about their ambition to align with the technical screening criteria for the circular economy objective of the EU Taxonomy.

Instant access to facts and numbers

We asked a large number of Nordic companies about their strategic priorities, approach and readiness concerning their transition to a circular economy. And they replied. Their answers, combined with expert interpretations of the resulting data, and its implication for the future of circularity can be found in the Nordic Circularity Survey Report. Sounds compelling?

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About the Nordic Circularity Survey

This study evaluates Nordic companies’ readiness and strategic priorities for the transition to a circular economy. There is a specific emphasis on the ability to apply the European Sustainability Reporting Standard for Resources Use & Circular Economy (ESRS E5) and the EU Taxonomy for the transition to a Circular Economy.

The transition to a circular economy faces numerous challenges and barriers including definition, metrics, and consistency of interpretation across sectors. Both ESRS E5 and an EU Circular Economy Taxonomy are essential for solving such challenges. But how aware are Nordic companies of this? Let’s find out!

Turning the tide on circular economy

Every year, global resources are being depleted faster than the year before. By fundamentally re-thinking how we produce, consume, process and re-use our resources, we can turn the tide and generate new economic opportunities. Find out how it can be done in these Insight articles.

A circular economy taxonomy
On January 1, 2024, the EU Taxonomy Regulation's environmental delegated act took effect. A circular taxonomy fosters clear communication, understanding, and collaboration among stakeholders.
But what is the Circular Economy Taxonomy about and which sectors does it impact?
Business model vs. business case
In the circular economy, the business case and model are intertwined for success. The model drives operational shifts, while the case solidifies economic rationale and value.
Unifying these elements is crucial for navigating this landscape.
Navigating a circular future for the built environment
The built environment must swiftly shift to a circular economy.
Success demands a comprehensive framework integrating past, present, and future perspectives, alongside collaborative strategies for implementation.