The “Circularity Gap Report” for Latin America and the Caribbean (LAC) provides a comprehensive assessment of the region’s current linear economic model.
Despite being a significant contributor, supplying over 11% of the world’s raw materials, LAC heavily relies on virgin resources with minimal recycling or reuse.
The report emphasises the region’s potential to establish an environmentally sustainable and socially equitable economy by reducing the environmental impact of key sectors and adjusting global resource demand.
By implementing circular economy strategies, particularly in agriculture and manufacturing, LAC could significantly reduce its carbon and material footprints, potentially creating up to 8.8 million new jobs and enhancing overall wellbeing.
The transition to a circular model is not only vital for environmental resilience but also offers promising economic opportunities for the region.