Circular economics: principles and examples
Economics - sustainability - ESG
Author: Charitarth Sindhu, Environmental Sustainability & ESG Consultant.
Circular economics is a systems-focused approach to keep materials and products in circulation for as long as possible.
It encourages the reuse of products rather than the continuous extraction of new resources.
Unlike the conventional linear economic model, where resources are extracted, transformed into products, and eventually discarded as waste, circular economics seeks to keep all forms of waste within industrial processes and economic activities to maintain their value for as long as possible.
This paradigm shift entails better design strategies for materials, products, and systems, including innovative business models.
Principles of circular economics
The principles of circular economics stem from the finite nature of the Earth's resources and the long term unsustainability of the linear economic model - described above.
(1) Eliminate waste and pollution
The focus is on maintaining, sharing, reusing, repairing, refurbishing, remanufacturing, and recycling products to minimize waste and pollution.
(2) Circulate products and materials
This principle emphasizes the continuous use of materials as products, components, or raw materials, ensuring that nothing is wasted, and the inherent value of products and materials is preserved.
(3) Regenerate nature
Transitioning from the linear take-make-waste model to a circular economy supports natural processes, allowing nature to regenerate.
Safe biological materials can be returned to the soil, fostering the production of new food and materials.
Examples of circular economics in practice
Apeel produces an edible plant-based coating that enhances the natural defences of fruits and vegetables.
By eliminating the need for shrink wrap plastic packaging, Apeel mitigates food spoilage, primarily caused by water loss and oxidation.
Resortecs designed a new type of thread that makes the disassembly process for fabrics easier.
These threads are available for different melting-points (150°C, 170°C and 200°C) and dissolved using a commercial oven.
This increases the effectiveness of recycling stitched clothes such as jeans or jackets, that need to be taken apart before their constituent materials can be recycled.
Connect the Dots aims to create a food system network by supporting local farmers as they transition to regenerative practices - farming that works with nature.
This results in the production of high-quality local food that builds soil health, promotes biodiversity, helps to tackle climate change, and reduces farmers reliance on synthetic fertilisers and pesticides.
Conclusion
The adoption of circular economics principles presents a promising pathway towards sustainability and resource efficiency.
By prioritizing waste elimination, material circulation, and nature regeneration, businesses and communities can contribute to a more resilient and environmentally responsible economic system.
Through innovative solutions and collaborative efforts, the transition to a circular economy offers viable solutions to the challenges of resource depletion and environmental degradation, ensuring a more sustainable future for generations to come.
See also
- Access economy
- Circular economy
- Doughnut economics
- Economics
- Ecycling
- New Economics Foundation
- Recommerce
- Reverse logistics
- Sustainability
- United Nations Conference on Trade and Development (UNCTAD)
- Upcycling
