Chartered Accountants Australia and New Zealand (CA ANZ) has provided feedback to the Productivity Commission on the interim report regarding Australia's circular economy. The response reflects CA ANZ's experience as a membership body representing finance professionals in business and practice.

CA ANZ supports the six priority areas identified in the interim report: built environment, food and agriculture, textiles and clothing, mining, vehicles, and electronics. They emphasise the importance of collaboration between industry and government to accelerate the adoption of circular economy practices within Australia.

Key points from the submission include:

• Establishment of a New Institutional Body: CA ANZ supports the creation of a new body to harmonise efforts across Australia, focusing on awareness, education, and providing a central point for circular economy initiatives.
• Government Services for SMEs: The government should provide services to small and medium businesses to help them navigate regulations, especially those in the six priority areas.
• Infrastructure and Ecosystem Support: Government should lay the foundations for circular practices and support an ecosystem for circular business models, including domestic recycling programs.
• Investor Confidence: Enhanced ESG reporting and sustainable finance taxonomy are necessary to provide sufficient information for investors to make informed decisions about circular economy projects.
• Alternative Indicators: The United Nations Sustainable Development Goals (UN SDGs) and other relevant indicators should be considered to measure the progress of Australia's circular economy.
• The need for a coordinated approach across government departments and the importance of consistent policies to support the circular economy.