MEXICO CITY – Oct. 29, 2024 - Erick Hernández Gallego, co-chair of the Mexico City Energy & Natural Resources Practice and chair of the Mexico City Environmental Practice of global law firm Greenberg Traurig, LLP, collaborated with the International Chamber of Commerce (ICC) and global management firm EY on the publication of the report “Putting the Circular Economy in Motion: From Barriers to Opportunities.” Hernández Gallego is co-chair of the ICC’s Circular Economy Global Working Group, as well as VP of the Environmental Commission of the ICC Mexico.
This report highlights the obstacles companies may face adopting circular business models, which have the potential to generate environmental, reputational, and financial benefits, and calls for the revision and harmonization of regulations to facilitate the transition to a more sustainable and resource-efficient economy.
The circular economy seeks to maximize resource efficiency and reduce environmental impact through the continuous use, reuse, and recycling of materials. However, the study concludes that current regulatory frameworks are not adequate to implement these approaches on a large scale due to inconsistencies in national environmental laws, which are still based on linear production and consumption models.
The ICC acts as the representative of more than 45 million businesses in over 170 countries. Its mission is to ensure that businesses work effectively for everyone, everywhere, at any time. Through a combination of advocacy, solutions development, and rulemaking, ICC drives international trade, encourages corporate responsibility, and promotes a global approach to regulation, as well as offering market-leading dispute resolution services.