4 Things You Didn’t Know About a Circular Economy.
The “Take, make, waste” principle governs the linear recovery we function in at the moment. That’s why our environmental conditions are getting worse. We are living a wasteful life and depleting our natural resources.
The pandemic was an eye-opening experience. We saw the fragility as our supply chains were disrupted, retail stores all over the world were unstocked, and hospitals were out of equipment. During this time, many people realised that a circular economy is the answer.
If the European Union were to incorporate a circular economy, we could halve CO2 emissions by 2030. A circular economy would also result in the reduction of primary material consumption by 32% by 2030.
What is a circular economy?
A circular economy is a new way of thinking about the design of products. Products need to be designed to have a second, third, and fourth life. If we change our mindset, we can capture the value and reuse the materials. This will reduce waste as well as pollution. Read more about that in our article about circularity in the fashion industry.
But why do we need a circular economy as soon as possible?
1. Renewable energy can eliminate 55% of greenhouse gas emissions.
According to Nicola Evans, Marketing Lead from the Ellen McArthur Foundation, data has shown that only 55% of greenhouse gas emissions can be eliminated if we transition fully to renewable energy. Even with these contributions, no one is talking about the remaining 45% of greenhouse gas emissions.
If we can repurpose our waste, keep materials in use, and regenerate our farmlands we can help reduce greenhouse gas emissions by 9.3 billion tonnes.
2. Chinese households can save CNY 17 trillion by the year 2040.
Industry leaders and academics have been focusing on the benefits of transitioning to a circular economy. This will not only affect the environment but also the economy. China has been committing to renewable energy production, rapid infrastructural development as well as tech-savvy markets. However, China would not be the only country benefiting from the positive change.
Business leaders have begun to take note of these positive changes. Many of them have started to manage company-wide green lines. They have also initiated conversations around sustainable supply chain management and decarbonisation.
3. Building sustainable relationships.
The idea is to establish a value chain by integrating the supply chains of a few businesses and subcontractors. By creating a communal network of several companies, identifying the big players within that specific ecosystem is made easier. This will allow for effective resource allocation as well as collaboration with everyone along the supply chain to achieve long-term sustainability goals for all of the organisations.
4. It isn’t a one size fits all model.
One needs to look at the bigger picture of how to employ solutions for a particular ecosystem. There needs to be an understanding of the regime and structures of the government as well as the businesses that operate within a city. This can ensure that the best elements can be used to facilitate a smooth transition.
How does Kleiderly contribute to a circular economy?
At Kleiderly, we are currently using the circular economy principles through our approach to reducing clothing waste. We give textile waste a new life and produce a plastic alternative out of it.. At its end-of-life, we can recycle our products multiple times, thus creating a truly circular economy. Therefore, we offer a take-back-system where products can get sent back to us and we will recycle them into new products. By doing so, we help to grow the circular economy.
Sources:
https://hivelife.com/surprising-facts-circular-economy/