A new initiative to help smaller businesses in London become more resource efficient has been launched.
Dubbed Advance London, it aims to help SMEs transition to or scale up circular economy business models and capitalise on the benefits.
Circular economy is an approach that encourages keeping resources in circulation instead of being burned or ending their life in landfill.
Established by the London Waste and Recycling Board (LWARB), it is jointly funded by the European Regional Development Fund and LWARB.
The programme will run for three years, until December 2019.
Councillor Bassam Mahfouz, Board member and Circular Economy Lead at LWARB said: “London is home to some impressive circular economy leaders. The nature of the circular economy requires collaboration throughout the supply chain and changes the way businesses interact with consumers – Advance London aims to help SMEs in the capital do exactly that.
“As more and more businesses ‘go circular’, new opportunities will emerge for SMEs to be innovative in the way that they tackle market challenges and this programme will help a number of businesses through that transition. We believe London can be a world leader in nurturing circular economy businesses and become a genuinely resource-efficient global city.”
The Welsh Government has also announced plans to invest £6.5 million in circular economy projects.