The automobile industry lends itself to the circular economy, as it requires a large quantity of high value components and materials. Vehicles are built to last and designed for easy repair. That is why it is also the perfect product for reuse, remanufacturing and recycling throughout multiple use cycles.
Renault factors in all the impacts of its vehicles throughout their lives, from design and production to use and recycling. The objective of this global 'life cycle' approach is to reduce the environmental footprint of its vehicles by using resources as efficiently and effectively as possible. The circular economy provides the framework for enabling this innovation from a resource productivity perspective.
Renault is working closely with the Foundation across three focus areas:
- Convening value chain partners to develop, pilot and validate circular value propositions
- Development of thought leadership and dissemination of key insights
- Development of metrics and industry specific methodologies for capturing circular value