In an economic system built on linear growth, what does it take to design businesses that regenerate rather than deplete – and to lead them with purpose in an age dominated by short-term gains? In this timely conversation, Anshuman Sisodia, a sustainability professional and MSc Sustainability graduate from ESSEC Business School, sits down with Pierre-Emmanuel Saint-Esprit – Circular Economy Officer at Manutan Group, Executive Director at the ESSEC Global Circular Economy Chair, and Forbes 30 under 30 honouree – to unpack the real-world implications of circular economy thinking. From re-imagining value chains to bridging business and education, the dialogue explores how leadership, systems thinking, and bold innovation can align to deliver purpose without compromising performance.

From Linear to Circular: Leading businesses that last by Anshuman Sisodia and Pierre-Emmanuel Saint-Esprit.

Anshuman: You founded ZACK.eco at 22 with a clear mission – merging profit and purpose through the circular economy. Looking back, how achievable is that balance in today’s business landscape? What were the biggest hurdles in building a responsible business?

Pierre-Emmanuel: Globally, it’s not easy – but the circular economy is almost a cheat code for aligning impact and revenue. Every euro of turnover we generate in this model simultaneously reduces CO₂ emissions, eases pressure on natural resources, and, when designed right, creates social value. That triad is what excites me.

I discovered this framework through the Ellen MacArthur Foundation, and it inspired me to co-found ZACK. But the challenge lies in focus: circular economy is just one lever among many. Renewable energy, for example, also bridges business and sustainability – it meets demand while advancing green goals.

Yet globally, few economic sectors let you invest without hesitation, knowing your work inherently benefits the planet. Too often, people feel forced to choose between NGOs, charity, and corporate work. My take? Even within linear companies, shifting just 1-2% of their supply chain or production toward circularity has an outsized impact. Why? Because that’s where the linear economy does the most harm – extracting, wasting, polluting at scale.

Half the world’s CO₂ emissions come from resource extraction. So the real question isn’t just “profit vs. purpose” – it’s how to redesign systems so that living well and producing responsibly become the same fight. Circular economy isn’t a perfect fix, but it’s one of the sharpest tools we have.

From the Classroom to the Boardroom

Anshuman:  One challenge that often arises in responsible business is the tension between short-term profitability and long-term impact. Given your experience and role at ESSEC, how do you think we can train students and future leaders to manage this tension?

Pierre-Emmanuel: We must start by recognizing that not all companies face the same pressures. Large listed firms like those in the CAC 40 answer to shareholders demanding quarterly returns – that’s reality. But small and mid-sized companies, especially family-owned businesses with “passion capital,” can invest for the long term because their survival depends on it. If you own 95% of your company, you know you won’t exist in 30 years unless you adapt to ecological transitions. These are the businesses we should empower first – through peer networks like France’s Mouvement des ETI – to prove that circular economy models can be both strategic and viable.

For larger corporations? We need to speak the language of each stakeholder. The factory manager cares about operational efficiency – so we frame circularity as waste reduction and cost savings. Marketing teams want differentiation – so we highlight how refurbished products or rental services set them apart. Risk managers? We talk supply chain resilience.

And we must be pragmatic: ecological arguments alone won’t sway people who don’t feel the crisis yet. With today’s economic anxieties – inflation, geopolitical divides – many see sustainability as a distant concern. So at ESSEC, we teach students to pair data with empathy. Show a CFO how circular revenue streams today can offset regulatory risks tomorrow. Tie sustainability KPIs to bonuses so employees see direct benefits.

The Bigger Picture

Anshuman: With circular economy, the business case is clear – market differentiation, cost savings. But what about other sustainability areas like biodiversity or pollution? Do these arguments still hold when convincing companies to balance short-term and long-term impact?

Pierre-Emmanuel: You’re absolutely right – it’s not as straightforward as circular economy, where waste reduction directly boosts profits. But the connections are there if you look deeper.

First, consider mid-sized companies rooted in specific territories. These businesses live or die by their local ecosystems – literally. If your factory pollutes the river workers depend on, or your operations degrade the soil farmers need, you’re not just harming nature; you’re eroding the very foundations of your workforce and supply chain. Suddenly, you can’t attract employees because the air is unbreathable, or crops fail because pollinators have disappeared. It’s a slow-motion suicide for the business.

Then there’s the financial lens. Methods like CARE accounting – which puts a monetary value on biodiversity loss – force companies to confront hidden liabilities. Imagine an annual report showing that your apparent profits vanish once you account for the wetlands you destroyed or the carbon you emitted. That gets investors’ attention. And with regulations like carbon pricing and EU taxonomy gaining teeth, ignoring biodiversity isn’t just irresponsible – it’s expensive. Companies adapting now are locking in lower insurance premiums, better loan rates, and access to green financing..

Then I truly believe as well that there is clearly especially in Europe but everywhere really – is that young talent won’t work for companies that don’t see how everything connects: ecology, economy, innovation

And it’s not just about doing good. Regulations are forcing the issue – like airlines paying carbon credits if they don’t cut emissions. Finance is shifting too – green bonds, sustainability-linked loans. We have companies like Genesis which shows how biodiversity actually pays. When farmers care for their soil, insurers and investors reward them with better rates. We’re reaching a tipping point where sustainability isn’t some side project, businesses that get this will thrive; those stuck in the old ways won’t survive.

Intrapreneurship and Circular Economy

Anshuman: Let’s talk about your current role at Manutan. Do you face similar challenges when pushing purpose-driven initiatives? How does that play out in your company?

Pierre-Emmanuel: Every company faces alignment challenges, whether you’re a startup or a billion-euro business like Manutan. What makes us unique is that our CEO is 200% convinced about the circular economy revolution. He led Manutan’s digital transformation years ago, and now sees circularity as the next frontier – even bigger than digital. This top-level commitment is crucial. It gives us a seat at the strategic table, budget allocation, and legitimacy.

But day to day work is different, one cannot lead by saying, “the CEO says so.” Instead, I apply the same approach I mentioned earlier – I show each department how circular solutions solve their specific problems. When sales struggles with customer retention, I ask: “Could refurbished products help keep your French clients?”

When we need meetings with procurement officers at major accounts, circular offerings become our door-opener. It’s classic entrepreneurship within a corporation – proving the model with limited means. The fights over priorities never stop, but when you tie circular economy to everyone’s KPIs, you create allies across the organization.

Myths and Misconceptions of the Circular Economy

Anshuman: Circular economy is a popular concept, but many businesses misunderstand it. What do you think are the biggest misconceptions?

Pierre-Emmanuel: There are indeed misconceptions, largely because of the various definitions floating around. Some organisations adopt the term “circular economy” just for the sake of it, without engaging with its true purpose. I tend to rely on the Ellen MacArthur Foundation’s definition, which rests on three key pillars: designing out waste from the outset, keeping materials and products in use, and regenerating natural systems – often achieved through shared flows and collaboration between companies and organisations.

One major misconception is that simply applying circular economy principles automatically makes a business sustainable. In reality, many companies continue to promote mass consumption. Even if they are selling second-hand or refurbished products, they may not actually be reducing the overall use of natural resources. If you’re offering a seamless and attractive consumer experience that encourages people to buy more – even if it’s a “greener” product – you’re not solving the core problem. The real question is: are you reducing the amount of natural resources being consumed each year? That’s the key metric.

The second big misconception is around recycling. Recycling is often treated as the first and most important “R”, but it should actually be the last resort. Of course, recycling is necessary – especially in today’s context where resource sovereignty is becoming a pressing issue – but it shouldn’t overshadow other more impactful strategies. We need to prioritise creating reverse logistics for reuse and repair. Equating recycling with the entire circular economy is misleading, and unfortunately, that’s a common shortcut businesses take.

Lastly, there’s often a missing link between the circular economy and social issues. For me, circularity isn’t complete without incorporating solidarity and societal impact. It’s actually quite feasible for businesses to include social dimensions in their circular initiatives. For example, when launching a reuse factory, you can choose to set it up in an economically disadvantaged area to generate local employment. Or you can partner with NGOs to donate unused products. These actions may not be strictly defined within the traditional boundaries of circular economy, but I believe they are essential. I would encourage companies – especially those with the financial means – to commit not just to circular transformation, but also to embedding social value into their efforts.

Looking Ahead: Disruption, Risk, and the Future of Business

Anshuman: Let’s take a peek into the future and talk more broadly about responsible business. Do you foresee any trends? How do you think businesses will evolve over the next 5–10 years, and what can companies do now to be prepared?

Pierre-Emmanuel: Yes, absolutely. I believe we’re heading towards a moment of disruption similar to what we saw with the digital revolution. Just as many large companies failed to adapt to digital transformation and disappeared as a result, we’ll see a similar pattern with sustainability and climate resilience. The exact timing is difficult to predict, but the direction is clear.

Take supply chain resilience, for example. Climate-related disasters are already impacting operations. I recently saw this firsthand – a warehouse in Eastern Europe was flooded due to severe weather in February. That’s not a future risk, it’s happening now. As climate change accelerates, we’ll see more migration, more displacement, and more instability in the global supply chain. Companies need to start asking themselves some fundamental questions: What natural resources do I rely on? Where am I located? How exposed is my supply chain to climate risks?

At some point, companies that seem strong today will be at serious risk if they haven’t begun this transformation. The challenge, of course, is forecasting when exactly this shift will become critical. People have been saying for decades that we’d run out of oil – first in the 1970s, then in the 2000s, and now maybe by 2070. That uncertainty is no excuse for inaction. Because when a crisis hits – an ecological tipping point, for instance – it’s already too late to adapt.

So rather than fixating on an exact year, like 2030, we should focus on preparing now. Some natural resources are already depleted. We have the data. It’s a matter of responsible leadership to guide this transformation – not only for the greater good, but also for the long-term resilience of your own business. If not for the planet, then do it for your company’s future – and for the wellbeing and security of your employees. That alone should be reason enough to act now.

Anshuman: Thank you, Pierre, for such a thoughtful and energising conversation. It’s clear that the transition to circularity is not just a challenge, but an incredible opportunity for purposeful leadership.

Pierre-Emmanuel: Thank you, Anshuman. The pleasure was mine

Useful links:

• Link up with Pierre-Emmanuel Saint-Esprit and Anshuman Sisodia on LinkedIn
• Read a related article: The Circular Economy: Its challenges and impact across frontiers
• Discover ESSEC Business School France-Singapore-Morocco
• Apply for the MSc in Sustainability Transformation.

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