Mitsui Sumitomo Trust Bank, Harch release Circular City Transition Guide

Mitsui Sumitomo Trust Bank and Harch Inc. have published a new guide aimed at helping municipalities transition to circular city models. The “Circular City Transition Guide,” released last week, explains how local governments can shift towards a circular economy. It offers a structured 10-step process tailored to community needs.

The guide is intended for mayors, administrative staff, and local council members. It also targets businesses, financial institutions, educational and research bodies, citizens, and non-profits contributing to the circular city movement.

“The importance of the circular economy is rapidly increasing as a way to find growth opportunities while addressing environmental and resource challenges,” the companies said in a joint statement. They noted that transitioning to a circular economy is crucial not only for industries but also for local communities.

Japan’s Ministry of Economy, Trade and Industry emphasized the need for regional circular economy models for sustainable growth. The Ministry of the Environment also stressed “the establishment of diverse local circular systems” in its latest plan to promote a resource-circulating society.

The “Circular City Transition Guide” acknowledges that collaboration across municipal departments and public-private partnerships are essential, and often challenging due to limited precedents.

The new guide includes basic concepts, case studies, and a phased approach for municipalities to tackle local challenges in their efforts toward sustainability. It is set to be continuously updated based on feedback from municipalities.

Mitsui Sumitomo Trust Bank and Harch have committed to supporting the transition of municipalities and local businesses toward circular city models. Harch, which operates the “Circular Economy Hub” and the “Circular Yokohama” platform promoting circular initiatives in Yokohama, partnered with Mitsui Sumitomo Trust Bank for the guide, leveraging its extensive experience in circular economy projects.

The guide was also developed with the cooperation of Keio University’s COI-NEXT project, which focuses on creating a “symbiotic upcycle society.”