PACE is a public-private collaboration platform for global leaders and their organizations to accelerate the transition to a circular economy. PACE was initiated by the World Economic Forum and is currently hosted by the World Resources Institute in the Hague. PACE provides leaders with the connections, learning, and opportunities to pilot and rapidly scale best practices that drives the transition to a circular economy.
The linearity in our global economy has led to significant societal challenges including resource depletion, climate change, waste, pollution and health hazards, the consequences of which threaten long-term economic growth, jobs, security, health and environmental wellbeing. This trend is concerning when the unrealized wider economic benefits of transitioning to a circular economy is currently valued at $4.5 trillion over the next decade, exceeding the estimated benefits from business as usual within the current linear economy.
PACE is the engine for system change in the circular economy, led by an action-driven community of public and private leaders that are committed to circular change. Business as usual is no longer an option. Consensus is emerging that circular economy solutions are critical to achieving the UN Sustainable Development Goals and preventing irreversible climate change. PACE’s mission is to accelerate the transition to a global circular economy through the adoption of circular economy approaches at scale that can improve human and environmental well-being for current and future generations.
PACE’s strategy focuses on three activity pillars: Leadership, Learning and Projects. The pillars closely interact with one another to implement and scale circular approaches.
The circular economy transition requires leadership through the entire society and economy, including from governments, business, and civil society. PACE convenes a global leadership group committed to advancing this transition to work together to overcome specific barriers to progress, pilot new initiatives and take best practices to scale for maximum impact.
PACE captures and translates learnings from projects into replicable frameworks and approaches. Knowledge generated from mapping exercises across thematic areas, facilitation of cross-learnings and disseminating approaches will inform leadership action across the PACE community and better enable scaling of circular solutions.
PACE catalyzes new projects and supports partner-led projects to scale-up circular economy action on plastics, electronics & capital equipment, food & agriculture and textiles & fashion. Other thematic touch points are Finance, Metrics and Innovation. Active projects are underway in Asia, Africa, Latin America and Europe.