target audience: TECH SUPPLIER Publication date: Mar 2023 - Document type: Conference Proceeding: Tech Supplier - Doc Document number: # DR2023_LL4_SM
The Circular Economy: Why IT Vendors Need to Pay Attention — Helping Your Customers Incorporate Circularity into IT Environments
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Abstract
These event proceedings were presented at the IDC Directions conferences in Boston and Santa Clara in March 2023.
Awareness about sustainability metrics and adopting innovative ways to reduce consumption is top of mind for organizations today. Included in this sustainability conversation is another trend, circularity.
The circular economy (CE) concept, outlined by the Ellen MacArthur Foundation, asks us to redefine waste as a resource for another process. In addition, the foundation also believes that the circular economy can contribute toward tackling 45% of global greenhouse gas emissions that cannot be resolved by transitioning to renewable energy alone. IDC has observed that organizations are adopting circular economy principles that support industrial processes and economic development programs rooted in restorative or regenerative concepts such as reuse, refurbish, and recycle. When resources remain "in the circle" for as long as possible, they return the greatest value.
IDC will share survey results from a worldwide 2023 study to explain why organizations are adopting circularity models as part of their procurement strategies and what they need from their vendor partners to reach their circularity goals.