You've might come across the term 'circular economy' while reading, but what does it really entail? And how is it helping the planet? I hope you will get some of these answers after reading this blog post.
The Ellen MacArthur Foundation, a foundation founded to accelerate the transition to a more circular economy, defines it as 'Looking beyond the current "take, make and dispose” extractive industrial model, the circular economy is restorative and regenerative by design. Relying on system-wide innovation, it aims to redefine products and services to design waste out, while minimising negative impacts. Underpinned by a transition to renewable energy sources, the circular model builds economic, natural and social capital' .
Put simply; todays economic model isn't sustainable - what can we do about it? In a circular economy we no longer think about a product linearly, hence the name circular. This is understood as a 'produce, use and throw away' linear model. In the circular model, the aim is for the product to stay within the economy for as long as possible. This longevity can even mean that the product no longer servers the use it was initially intended to.
In the broadest understanding of the concept of circular economy, there will be no more waste. We have finite resources, and within this economic model, waste is actually seen as a resource. In the process of better waste management and recycling, this economic model also aims at upcycling (creatively reusing something), having stricter standards for product design and material usage, and find smarter ways to run a business.
The overall aim for this economic model is to find smart alternatives. We know that resources are finite, sometimes even scarce, and we know that the Earth has its own limits to what it can handle. With this model, the aim is to play on the same team as Earth, in stead of against it. Luckily, as with many green alternatives, this can both be a financially good investment model, in addition to being good for the planet. Several major companies as H&M, Nike and Google are already partners to the aforementioned Ellen MacArthur Foundation.
If this blog post sparked some interest for you to find out more, because there is a lot more to dive into with this concept, then I can recommend this page as a first point.
As always, thank you for reading, for keep educating yourself towards a greener you and a greener future for our shared planet.