Circular economy: corporate investment on the rise
A report by the Politecnico di Milano, due to be presented at Ecomondo, estimates an average figure of 189,000 euros for 2026 (+44 per cent year-on-year), but there is a wide gap between large and small businesses
The economic scale of Italian companies’ circular economy projects is growing. According to the Circular Economy & Resource Efficiency Report 2026 by Energy & Strategy – Polimi School of Management, which will be presented at the Ecomondo trade fair in Rimini on 5 November, the estimated average investment by companies is set to rise from 131,000 euros in 2025 to 189,000 euros in 2026 (+44 per cent). Projects exceeding 500,000 euros will rise from 4 per cent to 13 per cent, although almost two in three will remain below 150,000 euros. The report shows that the growth in larger investments is concentrated primarily in medium-to-large enterprises and in certain sectors, particularly agriculture.
This trend is running parallel to the spread of circular economy practices amongst businesses, although the momentum seen last year appears to have petered out. The opinion poll carried out with Ipsos Doxa on 390 businesses – and included in the report – highlights that in 2026, 35 per cent of the sample stated that they had adopted circularity measures, compared with 34 per cent in 2025. However, at the same time, the proportion of those intending to introduce such measures in the future falls from 34% to 31%, whilst the proportion of businesses that do not plan to do so at all rises from 31% to 34%. Here too, company size facilitates material reuse processes: 42 per cent of large enterprises are already active in this area, compared with 32 per cent of micro-enterprises. For those already implementing circular economy initiatives, the average maturity level remains at 3.1 out of 5, unchanged from 2025. The measurement of results is becoming more widespread, with 28% of the sample (80% of companies already active) reporting that they do so, whilst organisational transformation is proceeding more slowly: only 9% have a role dedicated entirely to the circular economy.
In quantifying the economic benefits of circular practices, the report puts the figure at an estimated 19.8 billion euros, an increase of 8.2 per cent compared with 2025, with the construction and food and drink sectors together accounting for around two-thirds of this figure. However, the study warns that these savings amount to only 17 per cent of the theoretical potential by 2030, estimated at €119 billion. There is therefore still a long way to go.
The gap between large and small businesses
“We are seeing the market stabilise, as if we had reached an initial stage of maturity, with one in three companies having adopted circular practices whilst recognising that these are still only partial,” comments Davide Chiaroni, deputy director of Energy & Strategy – Polimi School of Management and head of the report. “However,” he continues, “for the first time, the dichotomy between large and small businesses is clearly emerging. The former view circular processes as practices integrated into their development model and demonstrate a significant willingness to invest, whilst the latter are holding back.”
Chiaroni also attempts to explain the reasons behind this polarisation: ‘The European CRSD (Corporate Sustainability Reporting Directive) and the UNI standard on measuring circularity have, in recent years, signalled a greater focus on these issues. Now, the scaling back of some of the PNRR projects specifically relating to the implementation of the circular economy, coupled with delays – on the one hand – in the National Strategy for the Circular Economy and, on the other, in the European Circular Economy Act, have dampened the momentum, particularly for smaller businesses.”
