Feb 12, 2021

U.S. Chamber of Commerce Foundation, PACE and Philips expand Capital Equipment Coalition to North America

Estimated reading time: 1-3 minutes

The U.S. Chamber of Commerce Foundation, in partnership with Philips and the Platform for Accelerating the Circular Economy (PACE), are expanding the Capital Equipment Coalition (CEC) to the North American market. With participation from leading businesses involved in the servicing, manufacturing and distribution of durable goods known as ‘capital equipment,’ the Coalition is eager to accelerate its transformation to a circular economy model where no materials or resources are wasted.

Public-private partnerships have proven very valuable to advance the circular economy, offering opportunities for business growth as well as being critical to the future of our planet.

Frans van Houten

CEO of Royal Philips, and Chair of PACE

“Public-private partnerships have proven very valuable to advance the circular economy, offering opportunities for business growth as well as being critical to the future of our planet,” said Frans van Houten, CEO of Royal Philips, and Chair of PACE.

“The Capital Equipment Coalition has shortened the learning curve through the sharing of best practices with like-minded industry peers in Europe. The expansion of this coalition to North America with founding members Microsoft, GE Digital, DLL and SAP is a logical next step in our effort to scale adoption of the circular economy and deliver real global change. I am pleased that Philips is on track to deliver on its global ‘closing the loop’ commitment to responsibly repurpose all the large medical systems equipment that becomes available to us by 2025.”

Read the press release