Nature-positive household & personal care sector may yield additional USD 62 bn a year by 2030: WEF
Household products and personal care sector can generate up to an additional USD 62 billion in annual business value by 2030 if it makes nature a central focus of its operations, a new research by the World Economic Forum (WEF) said on Tuesday. The projection is part of a broader USD 10.1-trillion business opportunity that could be unlocked by 2030 if more nature-positive solutions are embraced by the private sector, the WEF said.
By emphasising on water stewardship, responsible sourcing, nature conservation, and circularity, household products and personal care sector can reshape its role in halting and reversing nature loss by 2030, the research titled Nature Positive: Role of the Household and Personal Care said.
The sector currently generates around USD 700 billion in annual revenue, but sometimes at the expense of the environment.
For instance, the cosmetics industry alone produces 120 billion packaging units a year.
