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Circular Opportunity Innovation Launchpad (COIL) is receiving $200,000 in funding from Co-operators. COIL is an initiative powered by Circular Innovation Council. 
One of the Launchpad’s focus areas is materials circularity – both recovery and diversion from disposal, and the development and support of secondary demand for those collected resources. Co-operators supported COIL in 2022 and 2023 with funding to advance the circular economy (CE) in the construction, renovation & demolition (CRD) sector, and to strengthen the capacity of the initiative. This renewed commitment from Co-operators seeks to test innovative circular concepts to address challenges impacting the environment and contributing to climate change.
Piloting circular innovation in CRD materials and automotive parts
Co-operators’ contribution will help fund CE projects in both the property and auto claims value-chains. The projects will focus on recovering more CRD materials and auto parts, as well as supporting the secondary markets, demand and use-cases for the diverted resources. The projects will test and demonstrate innovative ideas to create viable long-term systems that will improve the recovery and circularity of CRD and automotive materials. The ultimate goal is to scale and replicate the new circular processes throughout the sectors and across geographies.
Circular economy is essential to address climate change
Resource recovery is a critical business model for the circular economy. By recovering and reusing materials, companies can reduce their reliance on virgin resources and minimize waste. These actions help retain the value of products and materials already in use. By reducing the need for virgin materials, resource recovery can lead to lower carbon emissions associated with extraction, processing and transportation. Ellen MacArthur Foundation asserts that addressing the 45% of global emissions generated from how we make and use products is essential to achieve net-zero targets.
Quotes
“We are very pleased that Co-operators is supporting the work of COIL again, especially as an expansion of Circular Innovation Council’s mandate. It is corporate commitment to advancing circularity, such as Co-operators’ funding, that will help Canada, its organizations and individuals succeed in the transition to a climate-smart circular economy.”
Jo-Anne St. Godard, executive director, Circular Innovation Council
“Co-operators is delighted to continue our work with COIL and work directly with Circular Innovation Council. Through this ongoing collaboration, we’re working together to drive the development of innovative and circular opportunities that can advance our vision to be a catalyst for a resilient and sustainable society.”
Cyndi Seifried, associate vice-president, Co-operators
“Very excited to see this collaboration continue, building on the great foundational partnership work of COIL and Co-operators. The innovative recovery and secondary market opportunities, that can be expected from these efforts, will help establish and grow circular systems to reintegrate recovered materials from construction, renovation and demolition activities.”
Catherine Kerr, head of circular economy unit, Environment and Climate Change Canada
About Co-operators
Co-operators is a leading Canadian financial services co-operative, offering multi-line insurance and investment products, services, and personalized advice to help Canadians build their financial strength and security. Co-operators has more than $62 billion in assets under administration. Co-operators has been providing trusted guidance to Canadians since 1945. The organization is well known for its community involvement and its commitment to sustainability. Achieving carbon neutral equivalency in 2020, the organization is committed to net-zero emissions in its operations and investments by 2040, and 2050, respectively. Co-operators is also ranked as a Corporate Knights’ Best 50 Corporate Citizen in Canada. For more information, please visit: www.cooperators.ca.
Contact
Andrew Telfer
Director, COIL
Circular Innovation Council
[email protected]
Circular Innovation Council is a registered charity.
Charity Registration Number: 119112118 RR 0001
