Risk and reward: understanding and managing new risks of circular economy models
FLINDERS @ TONSLEY
WEDNESDAY 15 NOVEMBER 2017
How do we identify and measure risks of circular economy initiatives? If we are leasing our lighting system, what happens if something goes wrong? Who offers insurance for shared goods such as the new car share services? And how do we provide space for responsible experimentation on new solutions? What about the possible health impacts of reusing and recycling older waste materials or tools?
Identification and management of risk is central to good business practice, and is a serious consideration for government policy makers.
It’s also an emerging challenge and opportunity for insurance companies such as AXA, with the adoption of circular models creating insurance vacuums for product liabilities, due to their re-use and their recycling, and of health and life, as even resources such as food and water may be impacted.
Dr Cécile Wendling, Group Head of Foresight, AXA and her team work on identifying and measuring precisely these kinds of risk. For Cécile, developing new insurance policies that account for the circular re-use of resources will be key. Cécile will share her insights on developing new insurance policies to support risk management in a more circular economy. These include include consideration of emerging environmental and health risks of material reuse, the transition from insuring ownership to insuring usage, and insuring the second life of machines.
Dr Emina Kristina Petrovic will speak on the possible health impacts of reusing and recycling older or waste materials and the need, as part of a move to circular economy, for comprehensive investigation of likely impacts recycled materials might pose on human and environmental health.