The property industry is not prepared for the transformation to a circular economy as mandated by the European Union.
This was the outcome of a recent study conducted by a study consortium consisting of the German Sustainable Building Council (DGNB), the Spanish (GBCe), the Danish (RFBB), the Dutch (DGBC), the Swiss (SGNI) and Austrian Sustainable Building Council (ÖGNI), as well as CPEA. They were joined by 29 market participants from Austria, Belgium, Denmark, France, Germany, Ireland, Spain, Switzerland, the Netherlands and Turkey.
Based on actual construction projects, the study examined the market-readiness of the circular economy criteria proposed in the EU taxonomy. Its conclusion: not a single project could be considered taxonomy-aligned. Two aspects that proved particularly problematic were the reuse of material content and the use of recyclates. There was also insufficient information and a lack of circular construction methods. Launched by the European Union in 2020, the EU taxonomy is a classification system for sustainable investments aimed at accelerating carbon-neutral transformation on the European continent.
On 22 February 2023, the Taxonomy Study on Circular Economy was launched with a digital event during which its results as well as the derived recommendations were presented. You can watch a recording of the event here:
