IISD Speech: President and CEO Scott Vaughan at the World Circular Economy Forum 2017, Helsinki

Scott Vaughan argues that traditional GDP is an insufficient measure for the circular economy because it ignores resource savings and environmental damage. He advocates for 'beyond GDP' accounts, such as the Comprehensive Wealth framework, to highlight the economic necessity of resource efficiency. Vaughan also discusses the potential for job growth in the circular economy, particularly in the EU and Denmark, while warning that automation in mining may displace workers in developing countries. Finally, he calls for the removal of fiscal incentives that encourage raw material extraction over recycling and promotes the use of green bonds and clean finance to support the transition.

• Gross Domestic Product (GDP) is an inadequate measure for the circular economy because it focuses on income and is indifferent to resource savings and environmental damage costs.
• The IISD's 'Comprehensive Wealth' framework provides a more holistic measurement by tracking four pillars: human, natural, social, and produced capital, revealing that Canada experienced a 25 per cent decline in natural capital over three decades.
• Implementing a circular economy in the EU could create over 180,000 direct jobs by 2030, while in Denmark, it is estimated to create between 7,000 and 13,000 job equivalents by 2035.
• Automation in the mining sector threatens employment in developing countries; specifically, automation in open-cut iron-ore mines could reduce jobs by 30–40 per cent, and over 75 per cent in open-pit mines.
• Existing fiscal policies often discourage recycling by providing high tax write-offs and accelerated capital cost appreciation rates for the exploration and exploitation of new resources in the oil, gas, and mining sectors.

APA

Vaughan, S. (2017). IISD Speech: President and CEO Scott Vaughan at the World Circular Economy Forum 2017, Helsinki. International Institute for Sustainable Development. https://www.iisd.org/articles/policy-analysis/iisd-speech-president-and-ceo-scott-vaughan-world-circular-economy-forum

Chicago

Vaughan, Scott. IISD Speech: President and CEO Scott Vaughan at the World Circular Economy Forum 2017, Helsinki. International Institute for Sustainable Development, 2017. https://www.iisd.org/articles/policy-analysis/iisd-speech-president-and-ceo-scott-vaughan-world-circular-economy-forum.

Wikipedia

{{cite press release |last1=Vaughan |first1=Scott |title=IISD Speech: President and CEO Scott Vaughan at the World Circular Economy Forum 2017, Helsinki |publisher=International Institute for Sustainable Development |date=6 June 2017 |url=https://www.iisd.org/articles/policy-analysis/iisd-speech-president-and-ceo-scott-vaughan-world-circular-economy-forum |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{vaughan2017iisd, author = {Vaughan, Scott}, title = {{IISD Speech: President and CEO Scott Vaughan at the World Circular Economy Forum 2017, Helsinki}}, publisher = {International Institute for Sustainable Development}, year = {2017}, month = jun, url = {https://www.iisd.org/articles/policy-analysis/iisd-speech-president-and-ceo-scott-vaughan-world-circular-economy-forum}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }