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Suvi Sojamo WCEF2019: Building a fair circular economy for water

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The World Circular Economy Forum presents the world’s best circular economy solutions and gathers together the most recognised experts and decision makers in the field. The event is organised by the Finnish Innovation Fund Sitra. Read more: www.wcef2019.com

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Suvi Sojamo WCEF2019: Building a fair circular economy for water

  1. 1. Building a fair circular economy for water lessons from corporate water stewardship Suvi Sojamo, PhD Aalto University World Circular Economy Forum 4th of June 2019
  2. 2. Water stewardship is defined as the “use of water that is socially and culturally equitable, environmentally sustainable and economically beneficial, achieved through a stakeholder-inclusive process that involves site- and catchment-based actions. ” Alliance for Water Stewardship 2019
  3. 3. Four lessons for a fair circular economy for water 1. Circular economy for water needs to reach beyond cities, basins and borders into global value chains 2. The business case for corporate engagement on water builds on responsibility, risks and opportunities 3. Circular economy and water stewardship are a mutually complementary match 4. Research-based frameworks are needed to accelerate meaningful water action in public interest
  4. 4. 1. Circular economy for water needs to reach beyond cities, basins and borders into global value chains 77% 23% Agricultural products 7% Industrial products 57% Domestic water use 36% Agricultural products 78% Industrial products 22% Water consumption in Finland Hoekstra and Mekonnen 2012 Blue water footprint of Finnish consumption Water consumption abroad
  5. 5. 2. The business case for corporate engagement on water builds on responsibility, risks and opportunities “Corporate action is insufficient to achieve SDG 6 and deliver a water secure future” CDP 2019 Water risks and opportunities • Physical • Reputation and markets • Regulatory • Financial
  6. 6. 3. Circular economy and water stewardship are a mutually complementary match Circular economy Water-smart business models from the start Water stewardship Governance and policy engagement guidelines Context-based water targets
  7. 7. Finnish Water Stewardship Commitment 4. Research-based frameworks are needed to accelerate meaningful water action in public interest 1. Water risk assessment 2. Water strategy development 3. Water impact assessment and mitigation 4. Collective action 5. Monitoring, evaluation and reporting
  8. 8. Thank you! Suvi Sojamo, PhD Postdoctoral Researcher, Project Coordinator Aalto University suvi.sojamo@aalto.fi +358 50 325 4415 @SuviSojamo people.aalto.fi/fi/suvi_sojamo

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