'Value retention’ is a term we’ll see featured much more frequently in regulations after the publication this week of a report by the International Resource Panel.
Friday, 26th October 2018
Presented at the World Circular Economy Forum in Japan, this report on product life highlights the benefits of creating products and components with lifetimes that can be extended through remanufacturing, refurbishment and reconditioning. In Europe alone, the remanufacturing market is valued at €30 billion, with the potential to treble in size by 2030.
The publication is the culmination of several years of study carried out in four countries and it offers evidence in response to the original, elegant research question: Which policies are needed to deliver a low carbon economy?
The answer comprises five high-level approaches, one of which is to improve value retention in products – i.e. extending the working life of components and products through, for example, industrial-scale remanufacturing.
The work was led by Professor Nabil Nasr at the Golisano Institute for Sustainability in New York. We are glad to have contributed to two workshops in Brussels and Montreal which contributed to the study.
In our view, this is the most influential and authoritative study in favour of remanufacturing currently available and we will be discussing it at our members' meeting in Berlin on 1st November 2018.
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