Circular Economy

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What is circular economy and how does it benefit the environment?

Circular economy is a new model of manufacturing and consumption that guarantees long-term, sustainable growth.It enables resource optimization, lower raw material consumption, and waste recovery by recycling or giving it a new life as a product.

Hence, the circular economy seeks to maximise the use of the material resources at our disposal by putting three fundamental concepts into practise: reduce, reuse, and recycle.In this approach, waste is utilised, product life cycles are prolonged, and over time, a more effective and sustainable production model is formed.

The concept is inspired by nature, where everything has a purpose and is put to use, and where trash is transformed into fresh resources.The balance between development and sustainability is preserved in this way.

Image: Circular-Economy

What distinguishes the linear economy from the circular economy?

In the linear production models, we extract, produce, consume, and dispose. The society we live in, consumption is increasing at a rate that is quick but unsustainable for the environment.

A more sustainable production and consumption model is established by the circular economy, in which raw materials are maintained longer in manufacturing cycles and can be utilised repeatedly, resulting in significantly less waste.This model’s core idea is that resources should be preserved in the economy for as long as possible. This allows us to use the waste we produce as a source of raw materials for other sectors.

What are the circular economy’s guiding principles?
In circular economy what is taken from nature returns to it in a cyclical and sustainable manner after its lifecycle is complete.

The prerequisites for establishing a circular economy are these 7Rs:

1.Redesign: The process of thinking through and creating things such that their production uses fewer raw resources, increases their useful lives, and produces less waste (or at least waste that is easier to recycle).This enhances environmental defence.

2.Reduce: Transform our consumption patterns to one that is more environmentally friendly.By reducing consumption, we may lessen our influence on the environment by preventing the production of trash and the use of raw materials.

3.Reuse: Extending a product’s lifecycle by reusing or repurposing it.

4.Repair: Before recently, we tended to replace damaged goods.Yet, fixing it not only saves money but also energy, prevents the need for additional raw materials, and does not produce waste that would harm the environment.

5.Renovate: Give outdated items, such furniture, a retro makeover so they can be used again.

6.Recycle: Encourage optimum waste management practises and use what you can as a source of raw materials to create new goods.

7.Recover: Find new applications for items that are destined for disposal, including repurposing plastic bottles to make flower pots, bird feeders, or watering systems.

What advantages does the circular economy offer?

  1. Keeps the environment safe.

It minimises the use of natural resources, lowers emissions, and decreases waste production.

2. Favours the regional economy

By promoting industrial methods based on the reuse of regional garbage as raw material, it can help the local economy.

3. Increases employment

It encourages the creation of a brand-new, competitive, and inventive industrial model as well as faster economic growth and more jobs.

4.Encourages independence from resources

Less reliance on imported raw materials may result from the utilisation of local resources.

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References:

Roche, M. (2022). What is circular economy and what does it mean for organisations? [online] Certification Europe. Available at: https://www.certificationeurope.com/insights/what-is-the-circular-economy-and-what-does-it-mean-for-businesses/.

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