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For example, our company covers 45 percent of its electricity needs in Belgium from wind power provided by ENGIE, the largest producer of renewable energy in the country. Covestro has already forged some strong partnerships in this area. Jointly for alternative raw materialsīesides alternative raw materials and recycling, something else is needed to make the circular economy truly sustainable – green energy. In the fight against plastic waste in the environment, we also rely on collaboration with as many partners as possible. New value creation paths are possible, as well as new business relationships beyond the existing B2B businesses.Ĭovestro is driving joint solutions in many fields - for example, for the dissemination of alternative raw materials, for the expansion of renewable energies and for the development of innovative recycling technologies. Industrial alliances can create new innovation spaces and launch lighthouse projects to lead to new business opportunities. After all, the circular economy has the potential to generate economic benefits of up to $4.5 trillion by 2030.Ĭovestro wants to cooperate with as many players as possible in all areas of value creation to find the best solutions for the circular economy. Industrial companies can thus drive the next wave of innovation. More intensive collaboration among key players helps to develop solutions to complex challenges, achieve economies of scale and remove barriers that impede progress toward the circular economy. Today, only about nine percent of global value chains are circular.