Product Lifecycle Management Practices (OI6209)

This metric is intended to capture whether an organization manages the environmental footprint of their product(s) beyond the point of sale and throughout their life. Product lifecycle management relates to the principle of a circular economy: an economy that is restorative by design and which aims to maintain products, components, and materials at their highest utility and value.

Examples of product lifecycle practices to footnote could include the following:

• Product take-back, including reclaiming used products from end-consumers for redistribution (following refurbishment or remanufacturing), recycling, or safe disposal.
• Reuse programs involving redistribution initiatives to underserved populations, subject to state or local laws.
• Product/service design intended to prolong durability or to rely on circular inputs (such as reusable materials or renewable energy).
• Investments in technology that enables circular business models.
• Product recycling that returns recovered biological resources to the biosphere and extracts biochemicals from organic waste.

Organizations can refer to the following sources for further guidance:

• Ellen MacArthur Foundation: Circular Economy (http://www.ellenmacarthurfoundation.org/circular-economy/circular-economy)
• International Organization for Standardization (ISO) 14040:2006 (http://www.iso.org/iso/catalogue_detail?csnumber=37456)