An initiative requiring companies to redesign production processes for reuse, repair and recycling, with strict waste management and resource-reporting standards to reduce raw material use by 50% by 2030 and become fully circular by 2050.PUBLIC SECTOR INTERVENTION 8 Circular Economy 2050, 2016, the NetherlandsPUBLIC-PRIVATE PARTNERSHIP 7 Advancing sustainability, NEOM and the Kingdom of Saudi Arabia In alignment with national strategies like Vision 2030 and the Saudi Green Initiative (SGI) and global sustainability goals, the Saudi Ministry of Economy and Planning (MEP) is spearheading the development of a National Corporate Sustainability Strategy. This strategy includes six strategic programmes and over 20 initiatives to enable and incentivize corporate sustainability adoption by the private sector. A key initiative is the development of a unified National Corporate Sustainability Reporting Guideline, aligned with national objectives and guided by international best practices.To ensure effective guidelines development, MEP has partnered with other key ministries, regulatory bodies and Saudi corporations, including NEOM, engaging them in technical committees and working groups. NEOM has contributed expertise and representatives to support the initiative’s development and alignment. This collaboration emphasizes transparency, accountability and improved decision-making based on sustainability considerations. Guided by global standards and engaging diverse stakeholders, the strategy ensures practical, relevant outcomes that meet the needs of businesses operating in Saudi Arabia. Source: NEOM and Ministry of Economy and Planning, Saudi Arabia Impact Financial Regulatory Operational Strategic Initial investments are needed for adapting processes, but reduced raw material and waste disposal costs offer long-term savings. Potential new revenue streams from resale, repair and recycling may offset costs, with government incentives available for support.Businesses must meet high standards in resource management and waste reporting, with strict compliance requirements and potential penalties. Industry- specific guidelines ensure all sectors align with circular economy objectives.Companies must revamp production lines and supply chains to prioritize reuse, recycling and repair. Reverse logistics and waste recovery become crucial, requiring new processes and technologies for resource efficiency.The circular economy policy enhances reputations, reduces resource dependency and improves resilience. Companies can gain a competitive edge through innovation and align with consumer and investor sustainability expectations, positioning themselves for long-term industry leadership. Source: Government of the Netherlands. (n.d.). A Circular Economy in the Netherlands by 2050. Beyond Cost: Country Readiness for the Future of Manufacturing and Supply Chains 23

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