Where Does a Circular Economy Lead?
A circular economy can transform our current modes of production, but what is the end goal? Find out here.
What is a circular economy?
A circular business model is an economical approach designed to promote sustainability by minimizing waste, maximizing resource efficiency, and fostering a closed-loop system. In comparison to our current traditional linear model of "take, make, dispose," a circular business model seeks to keep products and materials in use for as long as possible. In doing so, the product or material's maximum value is extracted before returning to the economy.
Why is a circular economy important?
Creating a closed-loop system is ultimately what makes a circular economy so important. We've all experienced hesitation when it comes to figuring out what to do with our old furniture, clothes that no longer fit, or toys that are no longer played with. The most common options for discarding unwanted items 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. When we take materials from the Earth to make products, we are not considering what the large-scale impact is. Instead, a circular economy stops waste from being produced in the first place.
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.
Where will a circular economy lead us?
The goal of a circular economy emphasizes keeping those products and materials in circulation for as long as possible. What does this mean? It means that the products are not meant to end up in a place such as a landfill. How is this achieved? This principle involves implementing strategies such as reusing products, components, or materials in their original or slightly modified form. Instead of discarding items after their initial use, they are redirected back into the economy to serve another purpose! This reduces the demand for new resources and minimizes waste.
The circular economy's end goal is to achieve sustainability by reducing resource depletion, minimizing waste generation, and promoting more efficient resource management throughout the entire lifecycle of products.
Research has shown that we are rapidly using up more resources than what is available. The projection is that if our current rates continue, we will need three planets by 2050.
In the last two decades alone, material consumption has risen by over 65 percent globally. What does that look like? That is the equivalent of 95.1 billion metric tons (as found in 2019). Due to all of that waste being managed with improper methods, all of this waste is harming the environment and our health.
These statistics alone are astounding pieces of evidence to show that globally, we produce and consume more than we can handle. It has never been more critical to make a change in our current economy and mindsets.
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. When you join our newsletter, you will receive information to help you make sustainable choices while allowing us to hold corporations accountable for their effect on the ecosystem.
Our newsletter is a great way to stay up to date 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!
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Key Points
A circular business model is an economic approach designed to promote sustainability by minimizing waste, maximizing resource efficiency, and fostering a closed-loop system.
Creating a closed-loop system is ultimately what makes a circular economy so important.
When we take materials from the Earth to make products, we are not considering what the large-scale impact is. Instead, a circular economy stops waste from being produced in the first place.
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.
Research has shown that we are rapidly using up more resources than what is available. The projection is that if our current rates continue, we will need three planets by 2050.
In the last two decades alone, material consumption has risen by over 65 percent globally. What does that look like? That is the equivalent of 95.1 billion metric tons (as found in 2019).
Due to all of that waste being managed with improper methods, all of this waste is harming the environment and our health.
These statistics alone are astounding pieces of evidence to show that globally, we produce and consume more than we can handle. It has never been more critical to make a change in our current economy and mindsets.
