Implementing the circular economy may INTEGRATE a company’s strategy with its mission.
In this scenario, the firm may find that their ethos provides an advantage over its competition.
In 2001, Tata Steel and SAIL established a joint venture called mjunction services limited, which has become the world’s largest eMarketplace for steel and India’s biggest B2B eCommerce company. mjunction’s mission is to create robust and sustainable supply chains by bringing more efficiency and transparency to stakeholders.
Extending beyond typical ecommerce buy and sell services, mjunction also offers financing and consulting services to customers. However, it is the side business that helps customers sell their “non-core” products and by-products such as secondary steel, minerals, coal and coal chemicals, hazardous products and obsolete or idle assets. Arguably the biggest value offer to buyers and sellers is the price transparency on industrial by-products. mjunction has increased its business volumes from $13.8M USD in 2002 to $10.27B USD in 2016.[ii]
Additionally, mjunction sells hazardous wastes like batteries, e-waste, coal and chemicals. For the last five years, mjunction has facilitated the sales of approximately $900M USD worth of hazardous materials. mjunction is helping many industries and organizations to find right buyers for these hazardous materials, and thereby providing the best solution for their by-products while contributing positively to the environment.
In December 2015, Veolia announced its 2017-2018 strategic plan to focus on continued growth and improvement in operational efficiency. The company cited the circular economy as a key driver for growth as a high added value offering for municipal customers and an industrial priority segment.
Veolia aims to recover 70% of all waste treated for its clients worldwide while increasing by-product recovery, water reuse and substitute fuel production from waste. Veolia also commits to sustainably managing natural resources through the circular economy by setting a 2020 objective of generating at least €3.8B in turnover related to the circular economy.
Veolia further exemplifies its commitment to circular economy in the creation of their Circular Economy Committee, led by a member of their Executive Committee. This Committee’s charge is to share existing solutions across business units, analyze market opportunities, define Veolia’s circular value proposition and support implementation.