On June 27-28, 2024, the 9th Forum of Green Development: The Digital Circular Economy was held. The forum was co- organized by the Shanghai Academy of Social Sciences (SASS) and the Friedrich Ebert Stiftung (FES) of Germany, and hosted by the Institute of Ecology and Sustainable Development of SASS. Experts and scholars from China and Germany gathered together to discuss the strategic significance, challenges and solutions of the digital circular economy.
Professor Wang Dezhong, president of SASS, attended the meeting and delivered the opening remark. He stated that as digital technology becomes the backbone of the global economy, the digital-enabled circular economy is emerging as a key development trend. This new economic model integrates digital technology with circular economy principles, creating novel industries and business frameworks. However, given its novelty, there is little established experience to guide the innovation and growth of the digital circular economy. In this exploratory phase, it is crucial to address the balance between innovation and standardization, foster synergies across the industry chain, and navigate the delicate relationship between data sharing and privacy protection. Through in-depth discussions among Chinese and German experts, effective models and practical innovations of the Sino-German digital circular economy can be explored and identified. These efforts aim to address shared concerns and common challenges both countries face in pursuing circular economic development, while jointly advancing green and low-carbon initiatives.
The forum focused on topics such as digitally enabled the circular economy, digital product passport, international standardization of data on the circular economy, and collaborative efforts towards building a digital circular economy.
Experts at the conference reached a broad consensus on advancing the digital circular economy. First, it is crucial to fully acknowledge the necessity and potential of digital technologies in empowering the circular economy. To further drive its development, urgent support is needed in areas such as technological innovation, cross-sector collaboration, regulatory and standards improvement, and data security assurance. Second, a collaborative platform for digital product passports should be established to enhance data transparency and interoperability, thereby improving supply chain visibility and product traceability. Third, international standardization of circular economy data must be promoted, as standards are vital for scaling the circular economy, and data serves as critical infrastructure and a public good. A mix of top-down and bottom-up approaches should be adopted to build consensus and ensure data consistency and comparability across sectors and regions. Finally, an ecosystem for the digital circular economy should be created. This involves refining regulations, standardizing information disclosure, encouraging the participation of small and medium-sized enterprises, and fostering communication and coordination among stakeholders, with the goal of building an internationally competitive and sustainable future economy.
