9 out of 10 ONS 2024 Conference Attendees are Ready to Transition to a Circular Economy. The importance of access to critical raw materials is the biggest change in this year’s survey compared with two years ago, with almost triple interest.
The ONS Foundation, RENAS and Circular Norway conducted a survey from August 3 – 23, 2024, among ONS conference attendees to uncover their familiarity with the circular economy, its role in resource efficiency, and its contribution to the transition towards a renewable society as a tool to reach the 1.5-degree target.
Nine in ten (89%) say they either strongly (61%) or somewhat (28%) support transitioning to a Circular Economy globally.
About as many (88%) say transitioning to a Circular Economy should be either a top priority (61%) or the top priority (27%) for the energy industry.
We are pleased that the support from the energy sector for the transition toward a circular economy is so universal.
It’s very interesting that critical raw materials are gaining more interest today than two years ago.
A solid majority (58%) say the pace of change expected of the oil and gas industry to transition to a Circular Economy in five years is appropriate and may need to be sped up. Three in ten (29%) say that the pace is not practical or safe, while 13% say they don’t have an opinion.
Most respondents (55%) emphasize the need for clear criteria to ensure a smooth transition, protecting consumers and maintaining energy reliability.
Jon Are Rørtveit, vice-president of ONS, highlights the shared responsibility to succeed in this transition:
The climate crisis is humanity's greatest threat, and the survey reveals the energy industry's concern that the transition to a Circular Economy is too slow. Energy leaders are eager to advance and secure a reliable energy future.
While there is consensus for an urgent transition, the survey also reveals that the greatest challenge lies in the lack of government intervention, either in setting regulations or providing incentives.
The ONS conference is crucial for bringing global leaders together to find solutions for a safe transition to a Circular Economy. As survey respondents suggest, we need stronger action from governments, investors, and business leader.
Circular economy is defined as an important tool to succeed in the transition to a net zero emissions society because it involves resource efficiency, cuts in emissions, reuse and change of business models.
He highlights the huge potential in increasing circularity in renewable energy.
We need to assess and evaluate the linear risk and develop circular value chains and business models.
Key Findings:
We invite you to visit RENAS and CIRCULAR NORWAY at booth 9140 in Hall 9, where you can gain deeper insights into our survey findings and do interviews. Our team will be available to provide detailed information and answer any questions you may have.
The ONS Foundation, RENAS and Circular Norway conducted a survey from August 3 – 23, 2024, among ONS conference attendees. The main objective was to understand how conference attendees/opinion leaders view issues related to the energy industry transitioning to the Circular Economy. The overall margin of error is 7 percentage points at the 95% confidence interval.
Comparisons are made in this report to a similar survey with participants of the ONS 2022 conference. Question wording sometimes varies between years and is shown where applicable.
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