We are all aware of the threat posed by climate change, even if some choose to bury their hands in the sand and ignore it. But the other looming disaster is the steady erosion of our natural resources, ecosystems and biodiversity.
We are using up raw materials like there is no tomorrow, and at this rate there will be no tomorrow. Urgent action is needed to ensure that we put economic growth on a sustainable footing and make the most of our planet's remaining resources.
This does not just make ecological sense, it makes economic sense. Many businesses now recognise that competition for scarce resources will become an increasingly pressing issue in the 21st century. Indeed, the EEF manufacturers' association in the UK has for years been pushing for action to address the issue of the looming shortage in raw materials.
Our companies are looking for leadership and bold measures to ensure we make the most of all recyclable materials and precious resources do not end up on the scrap heap.
This is also a huge economic opportunity for the UK and Europe. The jobs of the future will be innovative, green and sustainable. By acting now we can seize the opportunity to become world leaders in green technology.
The circular economy package presented by the European Commission marks a hugely important step forward. It will ensure that action is taken across the EU to end the throwaway society, including by investing more in the recycling of household waste and phasing out the landfilling of recyclable goods.
The transition to a more sustainable society will bring huge benefits in the long-term. But it will require a seismic cultural shift and short-term investment. That is why it is vital that local authorities and businesses are given the incentives and assistance they need to drive this process forward.
While the EU's circular economy proposal is very much to be welcomed, it now needs to acted on. But so far the Commission has not indicated a clear implementation strategy that will give a signal to businesses and industry that they can start to invest.
Instead, targets to reduce the energy used by certain products have been reportedly shelved until after the EU referendum.
It's time for the Commission and UK government to step up to the plate and ensure that words are followed up with action. The race for a more sustainable future has already begun, and we are in danger of falling behind.
This article was originally published by PoliticsHome