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Circular actions cannot be considered sustainable if their financial benefits are not demonstrated. While the environmental benefits of the circular economy have been widely studied, sustainable development from a financial point of view has been much less studied. In this paper we assess the financial benefits of circular innovations applied in the fashion industry that have been previously assessed as sustainable using the Life Cycle Assessment. The focus is on two innovative processes such as salt recovery and tannin baths reuse that reuse water, chemicals and raw materials in an Italian small company operating in the tanning industry. A cost benefit analysis was carried to evaluate the net contribution of these actions to the operating margin. Then we model a forward-looking cash flow projection in order to determine the fundamental value of circular investments. Through these practices, the company achieved an increase in operating profitability above 30% and the 10-year value of the salt recovery is 159,061.40 euros, while the reused tanning water equals just over one million euros. The results show unexpected and strong financial benefits that can leverage similar initiatives that would advance resource equity and finally promote a real and convenient industrial dedication to environmental guardianship. [ABSTRACT FROM AUTHOR]

Currently, agriculture uses about 70–80% of global water resources and, in the Mediterranean area, it accounts for the high pressure of freshwater demand. This study provides a useful framework for the meso-level assessment of the Water Footprint (WF) in agriculture. Particularly, the WF methodology is used to quantify the water consumption and pollution of olives, grapes and tomatoes, traditional crops widespread both in the Apulia region, in Southern Italy, and in the Mediterranean area. Hence, from a meso-level assessment of the Water Footprint of Apulian agriculture, a general level of evaluation of the use of Mediterranean water resources was provided, estimating the Virtual Water (VW) too. Furthermore the climate change effects on the Water Footprint of the traditional crops identified were predicted, proposing some scenarios useful to reduce the grey component, which values for olives were evaluated by a sensitivity analysis. The results highlight that olives present the highest value of the WF and that grapes are the most affected by the variations according to the climate change scenarios, increasing over 200% of the green component and 77% of the blue one. Finally, a Circular Economy proposal, based on the reuse of the wastewater from a meso-scale perspective, highlights saving up to 70% of the water resource. The research questions proposed displayed the novelty of this paper, particularly as concerns the use of the Water Footprint analysis on a meso-level evaluation. Particularly, the new insights of this research addressed the needs of stakeholders in areas suffering from drought, such as the Mediterranean, to integrate and systematize a data-set of indicators to rationalize and plan water resource usage and safety in agriculture. [Display omitted] • Water stress spurs Water Footprint assessment in the Mediterranean area. • Multi-level approach of water quantifying for olive, grape and tomato is applied. • Italian grapes have the highest Virtual Water, compared to Spanish and Greek ones. • Effects of climate change on Water Footprint of traditional crops are estimated. • Grey Water Footprint of the olives is evaluated by a sensitivity analysis. [ABSTRACT FROM AUTHOR]