Circular economy predicted to create over a quarter of a million new jobs for Londoners

New research by ReLondon, in collaboration with Valpak, reveals the potential economic growth and job prosperity possible over the next decade, if London’s businesses, policymakers and communities work together to adopt a circular economy and achieve the targets outlined in the Mayor’s Environment Strategy.

By clearly defining the different ways jobs can be circular and including all the sectors that can contribute – either as core circular businesses or from those directly or indirectly supporting core businesses – ReLondon’s modelling shows that circular economy can deliver not just substantial environmental gains but also make a significant contribution to job creation and economic growth.

If the city meets the Mayor of London’s waste and recycling targets to prevent 450 thousand tonnes of waste and increase the municipal recycling rate to 65%, 284,000 new circular jobs could be created – over and above the existing 231,000 circular jobs London has currently.

New jobs will be driven by increased public demand for planet-friendly products and services; by new business approaches like sharing, renting or leasing products instead of buying new, reusing and recycling materials in new products; by providing refill and repair services across the capital; and by the waste sector collaborating with businesses and local authorities to recirculate 1.1 million tonnes of material, helping everyone in the economy to waste less and reuse, repair, share and recycle more.

With less than six months to go until COP27, ReLondon is calling for all those acting on the climate emergency to recognise the role that circular economy can play in tackling the 45% of global greenhouse gas emissions associated with our consumption of food, goods and services – but also to recognise the double dividend it provides in terms of good quality jobs at every level; as well as the urgent need for investment in skills, training and qualifications to support businesses as they transition to circular business models.

As a first step the organisation is encouraging all businesses to get involved in their fifth annual Circular Economy Week. #CEWeek2022 is a showcase of inspiration and celebration to grow the circular economy in London.

Wayne Hubbard, CEO of ReLondon said, “In producing this report, we’ve seen again that circular economy is everywhere. It’s not just the reuse and recycling sector, but rather a system touching on almost every aspect of our lives and encompassing a whole raft of crucial activities and jobs that underpin it. This is why it’s so important to London’s low carbon goods and services sector.”

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