Finland
strives for a global frontrunner position in circular economy. The energy
industry is a significant player in creating a sustainable economic system: in
addition to leading us towards a low-carbon energy system by replacing
fossil-based fuels with renewable energy, the energy industry also plays a key
role in enabling circular economy in other industries. Producing a new product
from any recycled material requires energy, as does transportation, too.

What is
circular economy in the energy industry, then? This study provides both Finnish
and international examples of circular economy practices in the energy industry
and seeks further inspiration from the circular economy tactics of other
industries. The study was funded by the Environmental Research Pool.

By
comparing innovations between Finland and other countries, as well as between
the energy industry and other industries, the study shows that the circular
economy business potential for the Finnish energy industry lies particularly in
the service business. Finnish energy companies are not lagging behind in the
amount or quality of circular economy innovations in comparison to companies
outside of Finland, however, foreign energy companies are more active in
selling services for e.g. optimizing the use of energy. Instead, in Finland the
long-term cooperation with different industries and municipalities in the form
of CHP plants is evident.

To
conclude, the report presents four guidelines, with which Finnish energy
companies can actively promote circular economy and create new business.