Circular Economy

Circular Economy

Definition

• The Circular Economy is an economic system that aims to eliminate waste, keep resources in use for as long as possible, and regenerate natural systems.
• This approach contrasts the traditional linear economy model, which follows a ‘take-make-dispose’ pattern.
• Circular Economy incorporates principles such as reduce, reuse, recycle and repair.

Principles of Circular Economy

• The principle of waste as a resource sees waste not as something to be discarded, but as a resource to be reused or recycled.
• The lifecycle extension principle involves designing products to last as long as possible, and considering their lifecycle from the very beginning of the design stage.
• The principle of renewable energy sources emphasises the use of energy from renewable sources during the production process.

Steps in Circular Economy

• Design: Involves designing products in a way that minimises waste and facilitates repair, refurbishment or recycling.
• Use and reuse: This step involves using products to their maximum potential, extending their life through repair or refurbishment, and reusing products in their original or repurposed form.
• Recycle: Involves converting waste into the same or new products after the usable life of the products have been exhausted.

Importance of Circular Economy

• Circular Economy reduces the pressure on the earth’s finite resources and contributes to sustainability.
• By reusing and recycling, the circular economy approach saves on production costs, creating economic benefits.
• The circular economy approach reduces waste and the environmental impact of production, thus minimising carbon footprint.
• The approach encourages innovation in product design to maximise the efficiency and lifespan of products.

Hard Skills for Circular Economy

• Designing for Lifecycle: Considering the entire lifecycle of a product from design to disposal, creating opportunities for reuse or recycling.
• Materials Science: Understanding properties of materials to select those that can be sustainably sourced, reused and recycled.
• Supply Chain Management: Understanding how to manage the flow of goods in a way that reduces waste and maximises resource efficiency.
• Renewable Energy Expertise: Using renewable energy sources in production processes to reduce the carbon footprint.

Remember, the Circular Economy is not just about recycling. It requires a shift in mindset towards viewing waste as resourceful and optimising the entire lifecycle of a product - from design to disposal.