By circular economics, or cyclical economics, is meant an economic model that is based on a cycle rather than a linear process. It is therefore a question of companies, organizations and entire communities designing products, services and business models that are sustainable. This may mean from the outset designing with reuse, degradability and re-creation in mind, using energy from renewable sources and working to waste in one system can be carried to another.
Circular economy is inspired by the cycle of nature. The aim is that waste should not exist but is seen as a raw material. Therefore, the products are designed so that they are easy to recycle. Biological material should be compostable, and other materials designed so that:
To change from a linear to a circular economy, a company or organization can:
-Remove environmentally hazardous substances.
-Design the products so that they can be separated in their constituent material.
-Use renewable energy for production and transport.
-Return material according to the desirability list above.
-Sharing, renting or leasing production assets rather than owning them themselves, and likewise renting or leasing the products to their customers rather than selling them. This way you sell the "function" rather than the product.
The European Commission has adopted a package of measures for the circular economy with an action plan for new and revised legislation. The goal is a stronger and more circular economy where resources are used in a more sustainable way. The measures proposed should contribute to ending the cycle in the product life cycle by increasing material recycling and recycling to optimize the value and use of raw materials, products and waste. In addition, energy savings are promoted and greenhouse gas emissions are reduced. The proposals cover the entire life cycle of the products: from production and consumption to waste management and the market for raw materials.
The African Development Bank's ten-year strategy (2013-2022) seeks to change African economies to include green growth. They help several countries develop green growth strategies that incorporate circular economic principles. It is offering a variety of bespoke financial instruments to develop innovations on the continent including public and private circular finance projects.
Africa has used circular principles for generations and, like parts of Asia, showcases innovative solutions for handling waste. When new business models and technologies emerge, the opportunities for agriculture, manufacturing and waste management can be utilized to improve livelihoods and reduce poverty.
The circular economy is firmly rooted in environmental sustainability and, according to some critics, lacks the social dimension, ie the fulfillment of human needs. The principles are mainly formulated from a business point of view and strive for environmental and economic benefits. Social benefits are meant to be missing. However, it should perhaps be implemented that both economic and environmental economics must be anchored locally as long-term transport is neither environmentally sustainable nor economically sustainable.
It would then involve the development of skilled workforce to meet the need to be able to recycle, repair, etc. Criticism exists which is based on the increase in human work as many of these processes often cannot be standardized. But maybe we can get very far, even if in the short term you can not achieve 100% locally anchored process. The fact that conditions for developing employment opportunities are locally stimulated is fundamental, otherwise the model is not sustainable.
A circular economy that is based on environmental sustainability and economic sustainability without having a dimension that is about quality of life for people from a generation's perspective may not be called sustainable in the real sense.
Today's solutions to transport issues are being developed through sustainable energy solutions such as hydrogen-powered engines. When these become economically affordable in the market, transportation of goods that are more complicated to repair or recycle can become fully justifiable as long as the development strives to try to anchor as much as possible otherwise locally.
All exports and imports are given a different environmental and economic condition with good fuel for transport.
The circular economy must therefore be implemented together with the development of sustainable energy solutions in order to be a complete solution for future societies.
Source: Sprinkle Daily