UK could unlock more than £93bn and 550,000 new jobs by embedding circularity into agenda, Wrap report finds
A new report from environmental NGO Wrap details how greater adoption of the Circular Economy in the UK can create opportunities for businesses and jobs across the country.
The report, ‘Powering Good Growth’, shows the UK could generate an extra £93bn in gross value added (GVA) and support 550,00 new jobs through bolder steps toward a circular economy.
“Activities such as repair, remanufacturing, reuse, recycling and biorefining can help spread economic opportunity across the UK by creating jobs in every nation and region,” the report concluded, “strengthening local supply chains and attracting investment into communities undergoing industrial transition.”
Wrap’s modelling suggests that by 2035, even modest progress towards a more circular economy could unlock almost £4bn of additional economic value and support around 36,000 jobs across the UK.
Wrap CEO Catherine David commented: “There are an additional 550,000 new jobs that the UK could create if we take steps to grow the circular economy – this could be worth £93bn GVA to the UK’s economy by 2035. By creating the right long-term policy and investment environment, we can support key sectors to grow, with new jobs in repair, reuse and remanufacturing. Not only will these actions create economic growth, they will strengthen the UK’s resilience, making our businesses and institutions less reliant on imported resources, as well as making positive contributions to people’s living standards.”
The NGO warned that future growth cannot be taken for granted. Its latest analysis shows total circular economy employment remained static from 2019 to 2024, increasing from 557,639 jobs to 558,886.
“If we embed circularity into the UK’s growth agenda, the benefits will be felt for generations,” David said. “Our report is essential reading for policymakers and industry leaders.”
