Trade for an inclusive circular economy A framework for collective action
Trade for an inclusive circular economy A framework for collective action
Circular trade is a crucial component of a global circular economy. Still, the Global North is better equipped to benefit from it than the Global South due to differences in power dynamics, digital trade capabilities, trade infrastructure, access to finance, and industrial and innovation capabilities. Furthermore, and this is crucial, low-value or illegal garbage that is traded globally frequently ends up in the Global South. The inability of these nations to effectively manage and handle such trash increases environmental concerns and socioeconomic costs.
The benefits of the global shift to a circular economy are likely to be very unevenly distributed between rich and least developed countries if there is no clear purpose to reduce inequality integrated into the process. This article outlines a framework for inclusive circular trade that promotes just, inclusive, and circular societies. An alliance of businesses from Latin America, the Caribbean, Southeast Asia, and Africa collaborated to create the framework.
To download full-article please visit: https://www.chathamhouse.org/2022/06/trade-inclusive-circular-economy