Our world economy is only 8.6% circular, leaving a massive 'Circularity Gap'. This alarming statistic is the main output of this first Circularity Gap Report, in which we launch a metric for the circular state of the planet. Taking the United Nations' Emissions Gap Report [1] as inspiration, the Circularity Gap Report provides a framework and fact-base to measure and monitor progress in bridging the gap, year on year. Being able to track and target performance via the Global Circularity Metric will help us engage in uniform goal-setting and guide future action in the most impactful way.