London, UK,
22
February
2016
|
11:00
Europe/London

Amec Foster Wheeler to develop London’s Circular Economy Route Map

Summary
  • Raising London’s profile as a global circular economy leader
  • Circular economy to bring economic benefits of at least £7bn annually

Amec Foster Wheeler has been awarded a contract by the London Waste & Recycling Board (LWARB) to provide technical support for the development of a new Circular Economy Route Map for London. The Route Map reflects the Mayor of London’s ambition that the capital becomes a world leader in implementing an overarching strategy for the circular economy. The Route Map will identify how this can be done focusing on identifying partners, actions, opportunities and challenges to implementing circular economy in London.

London’s Route Map is one of the first to be launched by a city or region in the world. Amec Foster Wheeler estimates that the circular economy will bring benefits of at least £7bn annually to the city by 2036.

It is hoped that the Route Map will inform economic, environmental, and social policy development in London, raising awareness across the private and public sectors of what makes a circular economy and identifying where opportunities exist. The initial focus is on five key areas with high levels of turnover, significant environmental impact and unexploited potential for re-use - the built environment, food, textiles, electricals and plastics.

Amec Foster Wheeler has assessed the initial circular economy potential in these five areas and is currently working with stakeholders in London to identify opportunities and barriers at the operational level.

Rob Brown, Managing Director of Amec Foster Wheeler’s Environment and Infrastructure business in Europe
The circular economy is important for London’s future. Our multi-disciplinary team of economists and resource efficiency experts will provide LWARB with the benefit of our cross-sectoral experience in this area, helping London achieve its ambitions to be a global front-runner in the development of the circular economy.
Rob Brown, Managing Director of Amec Foster Wheeler’s Environment and Infrastructure business in Europe
Notes to editors

Amec Foster Wheeler (www.amecfw.com) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors.

 

With pro-forma 2014 annualised scope revenues of £5.5 billion and over 40,000 people in more than 55 countries, the company operates across the whole of the oil and gas industry – from production through to refining, processing and distribution of derivative products – and in the mining, clean energy, power generation, pharma, environment and infrastructure markets.

 

Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.

 

Resilient World is Amec Foster Wheeler’s sustainability strategy for solving tomorrow’s natural resource challenges together. For us, sustainability is about integrating social, environmental and economic concerns into our values and operations in a transparent and accountable manner.

 

Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.

 

The London Waste & Recycling Board (LWARB) is a statutory member of the Greater London Authority. It is a group of London’s waste stakeholders and partners, set up to change how waste is managed in London. It aims to reduce the amount of waste being produced and increase the proportion of waste that is re-used or recycled, by promoting methods of waste collection, treatment and disposal that are better for London’s environment. LWARB’s Towards a Circular Economy report, based on initial findings from this project, was published in December 2015.

 

A circular economy is one that keeps products and materials at their highest use and value at all times. It is an alternative to the current largely linear economy, where products and materials are made, used and simply disposed. A circular economy can stimulate innovation in areas like product design, re-use and remanufacturing facilities, innovative business models and new forms of finance.

 

Forward-Looking Statements

This announcement contains statements which constitute “forward-looking statements”. Forward-looking statements include any statements related to the timing and success of contracts, and are generally identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “will,” “may,” “continue,” “should” and other similar expressions. Forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Amec Foster Wheeler, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements.

 

Amec Foster Wheeler does not undertake to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise.