According to the Institut de l'environnement, du developpement durable et de l'economie circulaire du Quebec, circular economy is "[translation] a system of production, exchange and consumption designed to optimize the use of resources at all stages of the life cycle of a good or service, in a circular logic, while reducing the environmental footprint and contributing to the well-being of individuals and communities."3
Circular business models are rethinking systems and processes from as early as the design stage to find opportunities to recycle, repair, reuse, repurpose, or refurbish products and materials, so as to reduce waste and greenhouse gas emissions. In Canada, as stated in a government publication, many innovators and industries are seeing the benefits of using circular models to save money or open up new market opportunities - from turning pulp-and-paper-mill waste into renewable bioproducts to launching product buy-back programs that enhance customer interaction and recover usable materials such as metals and alloys. These innovative solutions are leading the way toward a more circular economy that benefits the environment while creating wealth and opportunities in industries.
Developing this new way of doing things cannot go forward without funding from Canadian banks. The purpose of this proposal is to raise awareness among shareholders of the Bank's support to this growing new economy in the next few years.