than buying or producing them from scratch ,” says Saric .
“ There are some companies already making great strides in this area . For example , Moët , Hennessy , Volvo , and aircraft equipment manufacturer Safran have all utilised the circular economy to help reduce Scope 3 emissions . This has involved employing circular economy strategies to help reduce overall emissions by 55 % by 2050 .
“ Moët Hennessy ’ s Golden Seeds project helps to ensure that liquids extracted from the harvesting process are reused and recycled across other operations and projects . And
Volvo is working alongside two key partners as part of its ‘ green steel ’ project , taking surplus green hydrogen already being used to construct the steel , and using this to power filling stations and vehicles .
“ Meanwhile , Safran is recycling 60 % of its raw materials used for titanium and nickel alloys thanks to an investment into EcoTitanium ® – the first European plant to develop aeronautical grade titanium alloys through recycling . This plant is already beginning to produce titanium ingots from scrap collected from the company and its subcontractors .” procurementmag . com 73