COP30 in Belém closed with limited progress and one major unresolved issue: a roadmap to phase out fossil fuels. Beyond the outcome of the summit—described by many as “insufficiently transformative”—one thing became clear: the private sector and the circular economy are gaining increasing weight in global climate policy. Even before COP30 began, President André Corrêa do Lago addressed a letter to the business community urging them to “lead the climate transition” and framing economic transformation as a major investment opportunity. The Belém Declaration, for its part, sets into motion an agenda aimed at redefining global industrial development through sustainability, innovation and social justice.

A shift in scale

One of the declaration’s main pillars is the energy transition and industrial modernisation, seeking both to accelerate the shift towards cleaner energy and to upgrade the global industrial sector. Achieving this requires rethinking materials, processes and life cycles, which in turn fosters the adoption of circular practices—including global value chains, material recovery, a post-consumer economy, and innovation in design and materials.

The Belém Declaration calls for a shift in scale: it is no longer just about reducing emissions or promoting renewable energy. “It is about reinventing the industrial base and the global economic system through a systemic sustainability approach, where the circular transition is no longer optional but becomes a structural element of the new global economic model,” says Jordi Oliver Solà, CEO of inèdit.

“Without circularity, net zero will not be achieved”

In this context, the Global Circularity Protocol for Business (GCP) was unveiled during the summit. Developed by the World Business Council for Sustainable Development (WBCSD) and the One Planet Network, it is the first global, voluntary and harmonised framework for measuring, managing and communicating an organisation’s circular performance to investors, regulators, customers and value-chain partners. Its ambition is twofold: to position circularity as a strategic pillar for companies, and to generate reliable information for investors and policymakers.

The protocol targets organisations of all sizes, sectors and geographies—whether multinationals or SMEs—with the aim of helping them understand how to create value and support the transition to circular economic systems.

Currently, material extraction and processing account for more than 55% of global greenhouse gas emissions. By adopting circular strategies, it would be possible to avoid up to 76 gigatonnes of CO₂ and save as much as 120 billion tonnes of materials by 2050. “While decarbonisation is accelerating, material use and waste continue to rise, undermining both climate and nature goals. Without circularity, net zero will not be achieved,” says Peter Bakker, President and CEO of the WBCSD.

According to the report, implementing the GCP’s recommendations could create millions of jobs linked to activities such as repair, recycling and remanufacturing, reduce air pollution, and relieve pressure on agricultural land and ecosystems.

With the GCP, circularity gains rigor and a shared compass. After a COP30 that leaves a somewhat diluted outcome, the message emerging from the business community is clear: we are entering a decisive era in which organisations must turn circularity into a real lever for competitiveness, transparency and impact.

Picture: Ueslei Marcelino/COP30