Global Resources Outlook 2024. Implications for business

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Global Resources Outlook 2024. Implications for business

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Integrating biodiversity into a business context

During the sixth United Nations Environment Assembly (UNEA6), the flagship report of the Global Resources Outlook 2024 (GRO) was released, highlighting the alarming increase in material extraction over the past 50 years, fueling the triple planetary crisis.

As the demand for natural resources increases, businesses are faced with the critical imperative of optimizing productivity and resource resilience. Adopting sustainable resource management and circular economy principles offers a pathway to decarbonization, nature protection, and just transitions, and presents significant opportunities for companies to shape future-ready models and partnerships.

Businesses have a key role to play in "reversing the trend" and redirecting markets towards more efficient ways of using resources. This business report, written in collaboration with WBCSD and Systemiq, summarises the key messages of the GRO, captures the implications for companies and outlines how they can act, actions that are summarised in:

→ Integrate decoupling into your business strategy.

→ Adopt circular economy models: Focus on material reuse, repair, and efficiency.

→ Invest in renewable resources and regenerative practices.

→ Improve supply chain transparency and optimize resource management.

→ Conduct resource efficiency audits and implement cost-effective adaptations.

→ Collaborate with policymakers: Advocate for policies that incentivize the sustainable use of resources.

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