COP29, CO2 and the Other Half of the Climate Equation

With COP29 kicking off, all eyes are on climate change and cutting CO2 emissions—but there’s a whole other side to the story we’re not talking about.

According to the Ellen MacArthur Foundation, renewable energy alone won’t get us to our 2030 climate targets.

The real challenge?

Tackling our runaway consumption, mountains of waste, and embracing a circular economy. It's no secret that companies create more than 70% of the world’s waste. While cutting emissions is essential, we must demand that businesses also take responsibility for reducing waste, recycling, and designing products that support a sustainable, closed-loop economy. The problem goes beyond emissions; it’s about the way we consume and discard on a linear path. We make, use, and toss. Until we stop that cycle, no amount of CO2 cuts will solve the whole issue.

One of the biggest roadblocks to circularity? A serious data drought.

Data is key to making informed decisions on waste reduction and sustainable material use, yet for many companies, the infrastructure for tracking and analysing this data simply doesn’t exist. Digitisation can bring greater transparency to waste management processes, enabling companies to monitor their resource use, product lifecycle, and waste outputs in real time. By using digital tools, businesses can finally gain visibility into their waste streams, track materials, and find ways to extend their lifecycle—all critical steps toward adopting a circular economy model. The better the data, the smarter and more strategic the decisions companies can make about materials, leading to substantial reductions in waste, costs, and environmental impact.

And companies can no longer hide from regulations which are increasingly pushing them to adopt more sustainable and circular business practices. Countries across the EU, for example, are enacting new laws that require manufacturers to take responsibility for the end-of-life management of their products, from electronic devices to plastics. While the public focus may still be on CO2, these regulatory shifts are ushering in a new era where businesses are accountable for the entire lifecycle of their products. This regulatory momentum is setting a precedent: soon, all companies, regardless of industry, will need to demonstrate concrete steps toward circularity, even if the concept hasn’t yet gained mainstream attention. Ignoring this will come at a steep cost.

Yet, CO2 remains the star of the climate stage. Why?

Partly because it’s straightforward, measurable, and fits neatly into a policy framework. But tackling waste, recycling, and circularity requires deeper changes to our economy and behaviour. It asks companies to rethink profit models, and it asks society to rethink consumption. These are harder, more complex conversations—but they’re essential if we want lasting solutions.