The vision of a circular economy is a shift from the current more linear (take – make – dispose) economy to one that is based on closed resource loops powered by renewable energy. For the chemical industry, a circular economy brings opportunities for new business models, new solutions and, consequently, additional costumers. The chemical industry may well be approaching a new "golden age"; innovations from chemistry are key to enable a circular economy.
BASF pursues two complementary approaches to achieve the key objective: decoupling value generation from increased resource use and waste generation. BASF's Verbund principle is a perfect example of how a company can already implement a circular economy with its own production. Within the Verbund, we use by-products from one plant as raw material for another plant. Therefore, the Verbund uses energy and raw materials efficiently, the generation of waste is avoided as much as possible. However, a circular economy is also about changing raw materials, most recently by using renewable raw materials based on organic waste and initializing new business models. In the future, profit will be made from a provided service or expertise rather than per ton of product sold. This requires a new way of thinking. BASF collaborates with customers to further develop products and solutions that make use of natural and technical loops.
In this webinar, Dirk Voeste, Nikolaus Raupp and Jan Kluegge from BASF will provide an overview about how the circular economy impacts BASF business. Join us to gain firsthand insights into how the transition from a linear to a more circular economy could result in significant changes in business models and value drivers across many industries. And hear about how to generate business opportunities and how to exploit value. Furthermore, examples will be shared how BASF collaborates with customers to close natural or technical loops throughout the value chain.
What You Will Learn:
Learn how a circular economy brings opportunities for new business models, new solutions and, consequently, additional customers.
Understand that a smart circular economy concept has to be designed into the product, process, use and re-use system right from the beginning.
Learn about the challenge to manage complex and collaborative circular networks that involve heterogeneous resource flows.