Sharing data across the value chain makes new insights available to improve efficient use of resources. This becomes even more apparent when you look across the Nordic borders. This utilization of new knowledge creates value for Nordic companies in different dimensions such as reduction of costs, improvement of brand image, reduction of risk and increase in revenue.
In today’s economy, there is a higher focus on cost reduction, risk reduction and brand enhancement, but with new circular business models there also lie new opportunities for revenue generation. The maturity level of data sharing for circularity in the Nordics is currently low, but there is a high future potential to move from mainly data flows for material traceability between a selected few actors to open ecosystems where data flows freely.
To assist Nordic businesses in how they can create value from shared data, Nordic Innovation is now publishing a mapping of barriers and possibilities for data sharing in the Nordic circular economy. The report is available for free download below.
Barriers for Nordic circularity
There are several barriers to data sharing for the circular economy. The mapping looks at four main barriers for data sharing in the Nordics.
Main barriers for data sharing in the circular economy
Value case
Legislative
Technical
Knowledge/culture based
The Nordic region is already at the forefront of developing digital capabilities, providing a great starting ground for also advancing their capabilities within data sharing for circular outcomes. Provided with the right incentives, Nordic companies can accelerate the global shift to a circular economy, underpinned by data.
The introduction of the right policies on national and international level can be a powerful enabler to extended sharing and use of data for circular economy practices. Current EU level policies on data and the circular economy indicates direction and sets out the framework for data driven circularity, but someone needs to lead the way through piloting and showcasing value creation.
Nordic Circular Summit on data sharing
23 -26 November 2021, Nordic Innovation and Nordic Circular Hotspot co-host the second yearly Nordic Circular Summit. Join the summit to hear more about the key findings from the new mapping. The mapping will be presented at the following session:
Circular Economy & Digitalization
Organizer: Lifestyle and Design Cluster
Thursday 25 November 2021 - 14.30-15.30 CET.
The Nordic Circular Summit is co-hosted and produced by Nordic Circular Hotspot and Nordic Innovation and is an official World Circular Economy Forum (WCEF) Side Event. To achieve dialogue and cooperation across generations we have the youth organisations ReGeneration 2030 and project CATALY(C)ST from DTU Skylab as official Nordic Circular Summit Partners.
