There are other 2 new standards on Circular Economy also published recently, learn more here:
- BS ISO 59004:2024 Circular economy. Vocabulary, principles and guidance for implementation
- BS ISO 59020: 2024 Circular economy. Measuring and assessing circularity performance
What is BS ISO 59010:2024 - Circular economy guidance on the transition of business models and value networks about?
One in a new series of five international standards on the circular economy (CE), BS ISO 59010:2024 gives business-oriented guidance on how to transition towards circular business models and circular value networks by setting goals, identifying circularity aspects to be addressed and taking actions.
Who is BS ISO 59010:2024 - Circular economy guidance on the transition of business models and value networks for?
Organizations seeking to understand and commit or contribute to a circular economy while contributing to sustainable development. These organizations can be either private or public, acting individually or collectively, regardless of type or size, and located in any jurisdiction, or position within a specific value chain or value network.
What does BS ISO 59010:2024 - Circular economy guidance on the transition of business models and value networks cover?
BS ISO 59010:2024 provides a more business-oriented methodology than BS ISO 59004, by which the transition from linear to circular is implemented in an actual business strategy. It guides the transition of business models and value networks to a CE, via analysing current business models and value networks. The process includes:
- setting the goals and boundary;
- determining a CE strategy;
- transitioning the business model of an organization towards circularity;
- transitioning a value network towards circularity; and
- reviewing and monitoring for continuous improvement.
NOTE: BS ISO 59010:2024 is complementary to, and does not replace BS 8001:2017 Framework for implementing the principles of the circular economy in organizations. Guide.
Why should you use the BS ISO 59000 series of standards?
Authoritative and actionable guidance: By establishing a common understanding and providing guidance on circular economy practices, the BS ISO 59000 series of standards facilitates the adoption of standardized circular economy principles, promotes consistency in implementation, contributes to the achievement of sustainable development goals, and supports comparability and the development of benchmarks.
Business benefits: The BS ISO 59000 series of standards provides a comprehensive framework and guidance for the implementation of a circular economy that can help businesses:
- reduce costs by recycling, reusing and remanufacturing, reducing reliance on virgin resources, and minimizing waste;
- increase resource efficiency;
- enhance brand reputation;
- innovate and secure new business opportunities;
- access new markets;
- increase resilience and mitigate risk by diversifying the supply chain and reducing reliance on scarce resources;
- achieve regulatory compliance as legislators increasingly prioritize sustainability and circularity.
