Do accountants hold the key to making the circular economy a reality, whereby physical flows of packaging are redirected to reuse and recycling, rather than to waste?
Presently, companies treat and value packaging as an asset up until the point that the product is sold. Once in the hands of the consumer, the packaging asset often becomes someone else’s liability. Think of a local municipality which is faced with the costs of disposal or waste treatment. But if the packaging remained an asset to the producer or seller, they would want to look after it and reclaim it back from the consumer.
Would a move to an asset mindset rather than a liability one, cause a step change in achieving a circular economy mentality?