4 Key Concepts to Build a Circular Economy
To build a circular economy, there are four key concepts to consider. Find out what they are in this article.
What is a circular economy?
A circular economy is an economic and environmental concept that aims to reduce waste, promote sustainability, and maximize the efficient use of resources. Circular economies offer a different approach to current linear models of production.
Why is a circular economy important?
The circular economy directly reimagines how we produce and consume products. When a company makes a product, there is often not much consideration of what happens to the product once the consumer is done with it. The responsibility for a product's "end of life" often falls upon the purchaser. There are limited options for discarding products that are no longer usable or needed. Some options are to dispose of them in the trash, recycle them, or make a donation. This is our current economic model of production, consumption, and disposal.
Circular economies reimage this cycle. The most impactful and forward-thinking aspect of circular economies is they begin to reimagine the cycle from the source. Circular economies put the ecological responsibility back onto the manufacturers instead of letting it fall on the consumers.
4 key concepts to build a circular economy
Conscientiousness in design
CEO of the Ellen MacArthur Foundation stated, "The circular economy is a bigger idea that takes the entire system into mind." Instead of products being produced for profit, without considering their impact on humans or the planet, there is a common goal in mind in circular economies.
Rethinking how products are designed before they are manufactured minimizes unnecessary use of resources. With longevity and durability, items can be reused, and excess purchases go down. The materials are what is returned to the economy in the end.
To achieve this, there will need to be a collective investment in sorting and recycling infrastructure.
Advantages of long-term profit increases
Halsey Cook, CEO of Milliken & Company, refers to a recent Ethisphere ranking of the top ethical companies, "The data is very clear that companies that focus on doing the right things over time have higher returns," he said. If saving the planet, restoring natural resources, and improving human health wasn't enough, here's more proof of reasons to go green. Businesses can now add long-term profit increases to the list of incentives to participate in the circular economy.
Cities can lead the way.
Cities and largely populated areas can serve as examples of managing a circular economy at a larger scale. Testing recycling programs, eco waste management, and providing recycling incentives can create better systems for managing waste while also reducing it. Ultimately, building infrastructures in cities worldwide is proof of how to support the circular economy at a global level.
Purchases matter
Consumers have begun to realize that companies need to take accountability for how they source and produce their products. Due to these consumers voicing their concerns and consciously purchasing sustainable products, companies have begun to prioritize sustainability. To continue to hold businesses accountable, we must prioritize sustainable alternatives and also continue to support businesses that source their materials sustainably,
These 4 concepts can work together to create a circular flow of materials and products. This is compared to our current linear economy, where resources are sourced, used once, and disposed of. The circular economy aims to achieve sustainability by reducing resource depletion, minimizing waste generation, and promoting more efficient resource management throughout the entire lifecycle of products.
How can I participate in a circular economy?
At Carom, we inform you of the newest sustainable information and the best circular companies to redirect your linear purchases.
Our Eco Forward newsletter is a great way to stay updated with what is happening worldwide while supporting linear systems to be transformed. You are helping the world by staying informed and becoming a part of something larger!
Together, we can make the difference our earth needs. Click here to get started.
Join our Eco Forward Newsletter
When you sign up for our newsletter, you will support us in exposing greenwashing, bringing eco-news to light, and keeping you up to date with campaigns you can take part in to enact change.
We also inform you of the newest sustainability information and the best circular businesses to redirect your linear purchases.
What will you receive when you sign up?
Detailed insights into which sustainable brands to support
Tips on how to be more circular
Petitions
Campaigns
Weekly blogs
Weekly Newsletter
Certificate / Website badges
Key Points
A circular economy is an economic and environmental concept that aims to reduce waste, promote sustainability, and maximize the efficient use of resources. Circular economies offer a different approach to current linear models of production.
The circular economy directly reimagines how we produce and consume products. When a company makes a product, there is often not much consideration of what happens to the product once the consumer is done with it.
Rethinking how products are designed before they are manufactured minimizes unnecessary use of resources. With longevity and durability, items can be reused, and excess purchases go down. The materials are what is returned to the economy in the end.
If saving the planet, restoring natural resources, and improving human health wasn't enough, here's more proof of reasons to go green. Businesses can now add long-term profit increases to the list of incentives to participate in the circular economy.
These 4 concepts can work together to create a circular flow of materials and products.
