The Impact of the Circular Economy Action Plan on the Turkish Industry
The European Union aims for a radical transformation in the economy, society, and industry by 2050, with the goal of climate neutrality. The circular economy is one of the topics within the scope of the European Green Deal.
The Circular Economy Action Plan will primarily affect the products we export to the European Union, which is currently one of Turkey's largest export markets. Turkey, by signing the Paris Climate Agreement, has committed to achieving net-zero emissions by 2053. Currently, we see steps being taken to align our country with the principles of the circular economy in action plans.
In Europe, legislative work on the application of circular economy principles to products is ongoing. The Ecodesign for Sustainable Products (ESPR) Directive is one such regulation, expected to come into effect in 2024. We recommend that companies closely monitor these regulations and start preparations now. Adapting to these regulations after they come into effect may not happen overnight, and the integration into company culture and business processes could take decades.
Companies that are not prepared are anticipated to experience revenue and market loss in the European Union.
The circular economy asserts that 80% of the environmental impact of products can be controlled at the design stage. Its fundamental principles include circularity in product design, sustainable sourcing, efficient use of resources, the use of renewable energy, waste reduction, product durability, and the sharing economy.
Industries such as electronics, textiles, furniture, packaging, batteries, plastics, construction products, chemicals, and food are critically evaluated and industries under consideration in this action plan.
Within this action plan, we are introduced to the concept of sustainable product design idea. Sustainable products are expected to be long-lasting and durable, repairable, reusable, recyclable, environmentally friendly, and energy-efficient. Products with these features will also have a digital passport. Through the digital passport, technical documentation, traceability, usage instructions, and information about the manufacturer will be stored electronically. Companies without adherence to circular economy rules will be unable to participate in the supply chain through the digital passport.
For more information and consultation on sustainable product development, please contact us.
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