In their latest report, 'Circularity: No Time to Waste,' ABB Motion discloses that a shocking 96% of businesses in the oil and gas sector are currently experiencing the impact of environmental pressures. The report emphasizes the urgent and growing need for the industry to transition towards circular economy principles, and identifies key challenges and strategies to potentiate this critical shift.
1. 'Circularity: No Time to Waste,' a report by ABB Motion, indicates that 96% of businesses in the oil and gas sector are experiencing the impact of environmental pressures.
2. The report emphasizes an urgent and growing need for the industry to transition towards a circular economy model to combat these pressures.
3. There's a growing concern within the oil and gas industry about waste management and sustainability, with many businesses witnessing the impact of wasteful practices on their operations.
4. An overwhelming majority (96%) of surveyed companies are experiencing the consequences of not using resources sustainably, evidencing that the problem is industry-wide.
5. The study calls for the urgent implementation of circular economy practices, wherein waste and resource use are minimized while maintaining the value of products and materials for as long as possible.
A recent report by ABB Motion revealed that a staggering 96% of businesses in the oil and gas sector are feeling the effects of environmental pressures.
The study highlighted the growing concern across the oil and gas industry about waste management and sustainability. Many businesses are witnessing the impact of wasteful practices on their operations, thus triggering a dire need for change. The report indicates an overwhelming majority (96%) of surveyed companies are experiencing the consequences of not using resources sustainably, providing evidence that the problem extends industry-wide. This shows that the urgency to implement circular economy practices, where waste and resource use are minimised while the value of products and materials is maintained for as long as possible, is more critical than ever.