Sharing can help us care even more for our planet

FROM car-sharing to swapping clothes or staying in an Airbnb, the sharing economy is helping us all to maximise our resources, all at the click of a button.

With Cop26 fresh in our thoughts, this is a sector with sustainability at its heart and built on the principle of finding creative ways to make the most of what we have.

Millions of people across the world routinely trade spaces, skills, and stuff using peer-to-peer platforms. And the number is rising rapidly due to growing global awareness of the importance of making sustainable choices. In the UK alone the sharing economy is expected to be worth £140bn by 2025.

Products within the sharing economy tend to offer different locally targeted services. They can range from apps to cut food waste, to ride-share options, but fundamentally have the same aim – to reduce waste. So, as North East households and businesses head towards a low carbon future, it will be interesting to see how the sharing economy will support us.

Take the important issue of food waste, for example. There are a host of good apps and web platforms related to this issue. Some connect charities to food outlets, allowing them to pick up leftover food from restaurants and cafes that would otherwise be thrown away.

And it’s not just restaurants. Retailers are keen to play their part too. For example, it is more than a decade since Tesco sent food from within its own operations to landfill, and through their Foundation, Greggs aim to donate as much unsold food to charity as possible, including soup kitchens, food banks, and shelters for the homeless and vulnerable.

We have also seen lots of exciting new initiatives emerging among small food producers during the lockdown. With cheesemakers and other producers finding it impossible to move product due to business closures, local communities stepped in to buy up those products, reduce waste, help the environment, and support local businesses too.

There are also interesting examples of the shared economy operating in some of the community energy projects that have grown in popularity.

At the CBI, we believe industry has the imagination, technology and collective will to address the world’s carbon challenge by targeting the critical drivers of innovative technology and customer behaviour. But it needs the backing of the Government.

That’s why we’ll continue to work tirelessly with Government at all levels to ensure climate change policy unlocks green investment and innovation, and supports low carbon and waste reduction behaviours.

If we keep the focus on action, we can set ourselves on course for a better world – one where we all share more and waste less. Without doubt, the shared economy will play an important role in delivering our net zero future.