Inquiry into opportunities in the circular economy

 This submission outlines policy mechanisms that the Government can implement to boost industry adoption of sustainable practices, thereby facilitating Australia’s transition to a circular economy.

As we stand at a crucial juncture in our economic development, it is imperative that we continue to update our approach to growth in ways that will protect the economy and generations to come.

The transition to a circular economy will foster long-term economic resilience in Australia. By rethinking our production and consumption models, we can reduce dependence on finite resources, strengthen our economic security and mitigate the risks associated with resource scarcity and price volatility. 

A more systematic approach to designing circular principles into our economy —such as designing products for longevity, promoting repair and reuse, and enhancing recycling efforts—will create a more sustainable economic framework that is better equipped to withstand environmental and economic shocks. This shift not only conserves finite resources but also opens up new markets and job opportunities in emerging sectors focused on sustainability. It will strengthen our economy and ensure a more stable future for all Australians.

Our full submission with recommendations is attached.