National Unified Circularity Measurement Framework- FMCG

In the context of the burgeoning circular economy in India, where sustainability and responsible business practices are gaining prominence, FICCI and Accenture, with support from NITI Aayog, collaborated last year to create design principles for measuring the circular economy, subsequently releasing a position paper titled Approaches for Measuring India’s Circular Transition. We curated a Unified National Circular Economy Measurement Framework aimed to guide Indian businesses in evaluating their circular economy performance. One of our key design principles was to deep dive onto sectoral nuances to bridge the gap between theoretical understanding and practical application within Indian industries. Therefore, FICCI in partnership with Accenture Strategy and support from EU REI and NITI Aayog, took a step further by developing the Unified National Circular Economy Measurement Framework-Sectoral Guidelines. The impetus behind this initiative also stems from a survey conducted by Accenture-FICCI, revealing that 65% of surveyed corporations identified the lack of industry-specific guidelines as a primary hindrance to effectively measure their circular economy performance. These sector-specific guidelines serve as a culmination of extensive research, incorporating insights from 50+ industry leaders and delving into 35+ circular Key Performance Indicators (KPIs). Each KPI is meticulously formulated, considering sector-specific nuances and the primary materials of interest. Acknowledging the critical importance of real-world application, the developed playbooks underwent a rigorous stress-testing phase, actively involving industry giants such as ITC and Mahindra. Their participation not only validated the methodology but significantly contributed to enhancing the robustness of the guidelines outlined in this playbook.