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As banks operate as service providers, the concept of circularity is often minimal. However following few circularity ideas can be implemented across the sector:

1. Digitization- Going paperless and operating digitally can significantly reduce paper consumption contributing significantly to environment sustainability.

2. Internal sustainable practices- Initiate recycling and waste reduction practices within the branches. Encourage employees to use re-usable products instead of one-use.

3. Sustainable Financing- Issue Green Bonds for eco-friendly projects. Provide easy loans to businesses that are investing in eco-friendly projects.

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Circular economy implementation for service providers - Ricardo Vivanco

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Circular economy implementation for service providers - Ricardo Vivanco

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1. The number one rule in order to make a change and implement circular economy in a company is by encourage behavioral change through education. The education has to be firstly to their own employees, then to customers and partners about the benefits, showing how waste reduction, responsible consumption and participation in recycling can make a positive impact.

2. When it's possible, companies should shift to renewable energy sources (e.g. solar, wind or geothermal). This can be made also with a simple change of provider or investing in solar panels or electric vehicles reducing carbon emissions.

3. More collaboration between stakeholders may accelerate the adoption of circular principles, for example creating a collaboration with suppliers to reduce packaging waste, adopting reusable materials.

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1. Digital Platforms for Resource Sharing and Service Exchange

Service-based industries can create or participate in digital platforms that enable the sharing or exchange of underused resources. For instance:

• Banks and Consulting Firms: Instead of discarding unused or obsolete IT infrastructure or office equipment, these firms can adopt a circular model by creating shared IT hubs or platforms where different organisations (even competitors) can exchange or lease technology assets. This would reduce waste and the demand for new equipment, thus cutting down the resource extraction involved in producing new IT equipment.

• Cleaning Services: These companies could use platforms to share eco-friendly cleaning tools, machinery, and materials, collaborating with other local firms. By doing so, they optimise the use of equipment that otherwise may lie dormant for much of the time.

This model encourages better utilisation of assets, prolonging their life cycle, reducing the need for new products, and helping to decrease waste.

2. Circular Workforce Models through Skill Sharing

Service industries heavily depend on human resources. They can transition into a circular model by adopting skill-sharing frameworks where employees or freelancers are shared across different organisations or industries, particularly during downtime:

• Public Services and Hospitals: By pooling talent and resources, these institutions can set up shared labour pools where professionals, such as administrators, technical staff, or healthcare specialists, can rotate between hospitals or public service offices, optimising workforce usage while reducing the costs of underemployment or overstaffing in one location.

• Consulting Firms: Through cross-industry collaboration, consultants can offer services to a broader network of companies, reducing the need for redundancies while ensuring continuous professional engagement. This not only makes workforce management more efficient but also reduces the environmental and financial costs associated with turnover and re-hiring.

3. Waste-to-Service Solutions through Energy Circularity

Many service industries consume large amounts of energy, particularly in sectors like hospitals, public services, or large-scale banks. To integrate circularity into their operations, these companies could implement waste-to-service solutions by converting waste into energy:

• Hospitals: They could install on-site biogas facilities or partner with local waste processing units that transform medical and organic waste into renewable energy, which is then fed back into the hospital to power operations, reducing reliance on fossil fuels.

• Public Services: Municipal offices can adopt energy circularity by utilising excess heat generated from data centres or municipal services to power other buildings, thereby creating a closed-loop energy system.

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CE in a services organisation, Romano Luisoni 

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CE in a services organisation, Romano Luisoni 

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In the insurance industry SwissRe has implemented a kind of sustainability approach. They stopped to re-/insure clients how do not met certain criteria. In practice they stop the coverage for oil rigs and installation. Similar they adapted their investment management. In both core areas a stewardship regime was implemented. The same approach could be applied for CE plus new forms of financial and insurance coverage can be introduced to support the transformation.

The asset management sector can also follow the same approach like presented above for SwissRe but for every private or institutional investors.

In the bank sector the clients shall also have to present a business case beforehand the bank gives loans or support the issueance of bonds or shares.

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CE in the hospitality industry - Julia Barbey

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CE in the hospitality industry - Julia Barbey

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As someone working in the hospitality industry, I believe there is great potential for adopting more circular practices. Here are some strategies I think would be beneficial to see implemented across the sector.

One idea is to reduce waste by donating leftover food or turning it into compost for gardens. Having a waste management program in general.

Another approach is to buy products like shampoos and other amenities in bulk to reduce packaging and make refilling easier.

Another idea is to install water and energy-saving systems, such as low-flow showers and LED lighting, to reduce overall resource consumption.

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Services often do not have the big leverage points they can address. I am convinced that small steps taken by an individual can still have a big impact.

Consulting firms are often able to work both onsite and remote. By promoting remote work and therefore reducing the office space to a minimum, they could reduce energy consumption within the building. Additionally, the consultants will commute less which reduces energy consumption and pollution. Possibly this policy can even lead to more cooking at home and reduced waste for coffee-to-go or food-to-go for lunch.

When I work onsite, we often get our lunch at some food stands nearby the office. It is a big area with lots of employees from different branches. Most of the people I see regularly getting food do not use their own recipients but take the disposable plastic ones from the stand. Even if at first sight it is not much of a problem, over the years and multiplied by the number of people and the spots existing, it sums up to a huge amount.

Another idea would be the sourcing of materials in general. Consultancy firms usually have good profit margins. They should try to source their materials locally and from sustainable sources. It might not always be possible, but I am convinced that, especially for small and mid-sized companies, there is a lot of potential there. This group of firms is often private owned and does not have to state a sustainability report. There is also a lack of knowledge about the topic.

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Implementation of CE in service providers, Fabio Ippolito

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Implementation of CE in service providers, Fabio Ippolito

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An effective first approach to integrate a more sustainable and circular workspace would be a controlled efficient resource/waste management. By working together with recycling companies and biowaste converters, the created waste from all employees (from the technical and biological cycle) can be circulated back as effective as possible.

Another approach would be the asset management. Things like 'Establish procurement policies that prioritize products made from recycled materials or designed for reuse and repair' or 'implement leasing and take-back plans for office equipment, where the supplier is responsible for maintaining or repurposing products at the end of their life cycle'.