Building a Circular Economy – the Five Key Concepts

circular economy

A circular economy is a better option when thinking of mitigating climate change and making social and economic sense. It is restorative and regenerative by design, intending to keep products and components more efficient. It is time to shift our thinking and build a circular economy, where waste and pollution are designed to out because products and materials stay in use for longer. A circular economy also ensures natural systems can regenerate.

Industries, and the world at large, can make a circular economy a crucial contribution to preserving the environment. The creation of a circular economy has five key factors that experts say could cut carbon emissions by 3.7 billion tons by 2050.

Circular Economy is a Huge Venture

Sometimes speaking of reducing waste may mean just recycling, but it is much more than just that. Recycling is excellent, alright, but it is not the only thing that will save our environment. A circular economy is a much bigger idea, it is an entire system. We need to evaluate how products are processed from the start, and we have to strive to minimize unnecessary use of all forms of resources. It is time industries stepped up and contributed to creating the circular economy system’s infrastructure to work.

Going Green is Good for Businesses

Business leaders are slowly recognizing the obligation and opportunity that lays ahead of safeguarding the environment even as they strive for growth in their industries. Pursuing opportunities to manage future risks associated with climate change is what smart market leaders are doing right now. The most crucial driver in a circular economy recognizes that the fight towards climate change is not just a government responsibility, but also the responsibility of every industry player and every other citizen. Industries, however, have to set the pace and work towards ensuring a clean environment. Companies that focus on doing the right thing over time have higher returns.

Circular Economy

Cities can be Pace Setters.

The cities around the world can be pacesetters in the fight against global warming and the embrace of a circular economy. These cities are often incubators for informed ideas, in both the public and private sectors. Cities can look for ways to boost the already existing recycling efforts by reusing products and materials as many times as possible before they are trashed. For instance, in Toronto, Canada, garbage collectors pick organic waste from all the households within the city and turn this waste into biogas used to fuel truck fleets or used for heating homes during winter. There is a need to scale up on products that can be used more than once, to encourage a circular economy.

Carbon Footprint must be Considered.

What exactly is the carbon footprint, and how do we reduce it? A carbon footprint is described as the amount of greenhouse gas emissions produced and the use of a product or service. It consists of carbon dioxide, and others like methane, nitrous oxide, and fluorinated gases responsible for trapping hit in the atmosphere, therefore causing global warming. When talking about the circular economy, it is essential to factor in carbon emissions or carbon footprint, as it is critical to making progress. There needs to be a policy to hold companies responsible for the waste they produce during the manufacture of products.

What you Consume Matters

Many times consumers have been seen voicing their concerns about the waste that affects their daily lives, and industries are starting to respond. Consumers need to be firm and request the government and producers to make products from recycled content. Demand local recycling programs to make it easy to adopt the circular economy – this is part of the answer to how we can combat global warming and reduce the waste released into the environment. Both big and small industries and public and private sectors play a huge role in this. “The more people value the reuse of material, the easier it becomes for businesses to accelerate the circular economy,” says Scott Saunders, the general manager of the recycler KW Plastics. He further says companies follow what their customer wants; for this reason, consumers have a voice and a role to play in encouraging a circular economy.

Making a circular economy shift may not be easy, but it will be gratifying to see a world where people, nature, and economies all thrive. Circularity will be worth the effort at this point and will mean a better life for all of us. We need to all come together to make a better world!