Ingrid Sinclair, global president, will participate in a G7 Workshop in Paris, France on November 19 and 20, 2019 addressing the promotion of value retention policies (VRPs) that extend product life, remanufacturing, refurbishment, repair and direct reuse. This meeting of the seven largest advanced economies will bring together policy makers, representatives from the private sector, academia and civil society to engage in expert discussion concerning the potential of scaling-up business models in the context of VRPs to achieve profitable sustainability for consumer electronics and textiles.
The group will explore practical steps to be taken by G7 policy makers and business makers to support a framework for scaling-up that includes policies and processes seeking to retain material value within the economic system and will specifically address:
- the potential of Value Retention Policies (VRP) business models to simultaneously deliver economic and environmental sustainability commitments,
- potential national or corporate actions for expanding VRP business models for consumer products and any needs for international co-ordination,
- ways to promote ongoing exchange or alignment of actions (e.g. through public/private voluntary agreements)
Sinclair will outline the opportunities and challenges Sims Recycling Solutions (SRS) sees, as a global provider of resourceful solutions for retired electronic equipment, in terms of promoting VRPs. In addition to presenting on SRS’ experience, Sinclair will also participate in an outcome-oriented discussion with over 50 invited participants considering express actions that could be taken by policy makers and industry alike, to increase the successful adoption of policy and investments in VRP business models.
Despite growing interest in the circular economy (versus the existing linear “take-make-waste” economic model), until recently, there has been a lack of in-depth review concerning the quantified potential benefits that VRPs can potentially contribute to circular production systems. most of the political and technical emphasis has historically been on the manufacturing supply chain in terms of recycling used products, however, VRPs enable the retention of the inherent value of the product whereas recycling retains just the value of the material or resource that is recycled.
Consumer electronics demonstrate the potential environmental and financial gains associated with VRPs as extending their useful product life. Refurbishment, repair and reuse translate into new material savings, less production waste and emissions – not to mention green jobs.