Peru | 2016
Objective: use eco-innovation to create a new innovative material for the construction sector
FUNVESA, a producer of iron castings for machinery in the mining and cement sectors, has adopted eco-innovation to boost its green credentials (taking advantage of new markets), and to create a new innovative material for the construction sector, made from the slags and sands from its production process. It has also reduced costs and energy consumption. The company came up with two new business models to tackle its sustainability hotspots and achieve its new strategic commercial targets.
“In particular, one is focused on operationalizing the recovery of by-products (slags and sands) to be used as secondary raw materials for other industries,” says Funvesa. “This will reduce significant environmental impacts, promote resource efficiency in other industries, and also gain recognition [for us] as a company that follows sustainable practices.”
The Eco-Innovation Project was funded by the European Commission, implemented by UNEP and local implementing partners in Asia, Africa and Latin America.