£1bn potential of circular economy to Scotland’s cities and regions
Key regions of Scotland could be at the heart of an estimated £1bn boom for circular economy businesses in Scotland. The potential value to the local economies of circular approaches in Aberdeen & Aberdeenshire and Tayside, is set out in reports commissioned by Zero Waste Scotland, and highlighted in a speech by the First Minister at the Circular Economy Hotspot Scotland. The predicted economic benefits to Tayside of adopting a circular economy are over £400 million, while the predicted benefits to Aberdeen & Aberdeenshire are over £600m. A further report sets out the economic opportunities unique to Scotland’s capital, including proposals to maximise the circular opportunities in Edinburgh’s huge festivals and hospitality market.
All reports were produced with the assistance of the local chambers of commerce and written by independent consultants. Each chamber has already started to engage businesses and to help them realise the opportunities. These reports build on work undertaken in Glasgow in June 2016. Scotland has four circular economy regions: Circular Glasgow (a partner in the Hotspot); Circular Edinburgh, Circular Tayside and Circular North East – each work on projects tailored to local opportunities.
The First Minister will also use her speech to announce the latest businesses to receive support through the Circular Economy Investment Fund, with over £700,000 going to help three Scottish businesses accelerate the transition to a circular economy. The Circular Economy Investment Fund is administered by Zero Waste Scotland and supported by the European Regional Development Fund.
