Compliance & Risks Announces Key PaaS Research Study

March 09, 2023 (PRLEAP.COM) Business News
Compliance & Risks today announces its collaboration with EU Commission funded Project Scandere, focused on examining the potential of product-as-a-service (PaaS) models to better execute and promote a sustainable, circular economy.

The Role of Product as a Service (PaaS) in the Circular Economy
The EU Commission functions to help shape the EU's overall strategy, proposes new EU laws and policies, monitors their implementation and manages the EU budget. What is regulated in the EU has an affect on product regulation and manufacturing standards around the world.

European policies have at their center a focus on eco-innovation with the aim of helping to reduce impacts on the environment and transition towards achieving the objectives of the European Green Deal.

An innovative business model, product-as-a-service (PaaS) is a model in which a company provides a product to a customer, but instead of selling it outright, the customer pays for the use of the product over a period of time. In doing this, the company is allowed to retain ownership of the product, and it often results in a more sustainable and eco-friendly approach to consumption.

PaaS can play a substantial part in promoting a circular economy by keeping products in use for longer periods of time, reducing the need for new resources and limiting waste. Instead of the product being discarded after a single use, by facilitating customers to use a product without owning it, the product can be reused multiple times.

Project Scandere & the EU Commission
Project Scandere is a research project led by Linkoping University and involves industry and academic thought leaders in raising awareness of and accelerate the adoption of PaaS models to increase the efficiency and sustainability of the circular economy, while also providing greater value to consumers and supply chains and the environment.

Compliance & Risks, with its main offices in Cork, is joining the consortium to conduct this research and develop best practices for implementing PaaS models. Danny Cassidy, SVP of Growth at Compliance & Risks and member of the participating panel commented, "For the past two decades, Compliance & Risks have been trusted by the world's leading brands to simplify the process of product compliance & managing regulatory change. The demand for critical raw materials is increasing with growing populations, and the challenge of producing units to service this market will become more and more pressing. It's a privilege to be invited to participate and engage with wider Industry on ideas to help address this challenge - we simply have to."

Joe Skulski, CEO at Compliance & Risks said: "Our goal is to ensure global organizations have the tools & information to build safe, sustainable, products in a world full of change. We work with the world's leading brands who are spearheading ESG efforts to advance the circular economy. Product-as-a-service models have the potential to revolutionize the way we think about consumption and production, and we are eager to contribute to this important conversation."

The research study will specifically involve surveying a selected list of European Electronic, Electrical and Electromechanical manufacturing companies to ascertain their experience with the feasibility and practicality of regulations with PaaS in the EU member states.

Request for Research Participation
Compliance & Risks are announcing a request for participation for the following companies to be part of this pioneering research.

Research participants should be:
A manufacturer of Electronic, Electrical and Electromechanical products in the EU
Be willing to participate in 60 minute online interview with Compliance & Risks researcher
Interested parties affected included those from the Consumer Electronics, Industrial, Medical Device, Technology sectors amongst others.

Final Deadline for Applications is March 17th.

Applicants may apply online here via Compliance & Risks' website.

All Media Enquiries

Contact: Trish Butler, CMO, Compliance & Risks
Tel: + 353 87 366 0960

About Compliance & Risks
Compliance & Risks is a leading provider of market access technology for the world's leading brands. We have spent two decades honing the digital tools, expertise and content you need to monitor, assess and prove your products' compliance, protecting your brands and helping drive your growth. Our goal is to help companies navigate the changing landscape of ESG regulations and stay competitive in an ever evolving regulatory landscape.

About the EU Commission
Headquartered in Brussels, Belgium, the European Commions helps to shape the EU's overall strategy, proposes new EU laws and policies, monitors their implementation and manages the EU budget. It also plays a significant role in supporting international development and delivering aid. The Commission's work is steered by a College of Commissioners and led by its President. President von der Leyen is the current head of the European Commission. Together they take decisions on the Commission's political and strategic direction. The Commission plays a crucial role in shaping the EU's policies and priorities, and in ensuring that EU law is implemented and enforced effectively across all member states. It also represents the EU in international negotiations and works to promote the EU's interests and values on the global stage.

About Project Scandere
Project Scandere aims to transform entire CRM value chains into more resource-efficient and circular systems for the EU's interests. The major objective of the project is to create demonstrators with improved product designs, leaner remanufacturing, optimized recycling and adapted regulations in the context of a CRM-efficient PaaS business model from the sustainability perspective, through industry and academia collaboration across the EU. Also, the project is aiming for an even more improved, systemic design of the CRM efficient PaaS business models, improve the knowledge for product design, remanufacturing, and recycling including their interplays among them.

About GSI
Founded in 1845, Geological Survey Ireland (GSI) is Ireland's public earth science knowledge centre and is a division of the Department of the Environment, Climate and Communications. GSI is committed to providing free, open and accurate data and maps on Ireland's subsurface to landowners, the public, industry, and all other stakeholders, within Ireland and internationally. In addition, GSI acts as a project partner in interpreting data and developing models and viewers to allow people to understand underground. GSI deals with a diverse array of topics including bedrock, groundwater, seabed mapping, natural disasters, and public health risks.

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