One of the biggest changes we can make as a society to support positive climate action is to really embrace the concept of a circular economy. It’s been demonstrated to not only reduce the negative impact of our activities on the planet, but also to have unexpected side effects around community building and more connected up services.
But what is the circular economy?
If you’re not sure what we’re talking about then here’s a little explanation. Simply put, the circular economy is an economic model that aims to maximize the value and utility of resources by keeping them in use for as long as possible. And by doing so, to minimize waste generation. It is a big step left from the traditional linear economy we are all used to which follows a “take-make-dispose” pattern. Resources are extracted, used to produce goods, and then discarded as waste.
In a circular economy, products and materials are designed with the explicit intention of them being reused, repaired, or recycled. The ultimate goal is to create a closed-loop where resources re-circulate within the economy, being processed and reassigned for as long as possible. This involves strategies such as reducing the use of ‘virgin’ raw materials, extending product lifetimes, and promoting recycling and remanufacturing.
By adopting a circular economy approach as a whole society we can reduce environmental impacts. But we can also enhance resource efficiency and create economic opportunities. Whereas a lot of climate solutions involve business pulling back from what it does. The circular economy offers the potential to maintain economic stability. It works to decouple economic growth from resource consumption, making it a key action to contribute to the transition to a more sustainable and resilient future.
Key Principles of the circular economy
- Designing out waste and pollution: Products and processes are designed to minimize waste generation and the use of harmful materials.
- Keeping products and materials in use: Emphasis is placed on extending the lifespan of products through repair, refurbishment, and remanufacturing. This includes promoting sharing and collaborative consumption models, such as product leasing or sharing platforms.
- Regenerating natural systems: The circular economy aims to restore and regenerate natural resources and ecosystems by promoting sustainable practices and resource management.
- Shifting to renewable energy sources: The transition to a circular economy involves reducing reliance on fossil fuels and promoting the use of renewable energy sources to power economic activities.
What could you do today to help us make a real change? If you’re keen but not sure where to go with it then you could look up Fab City and get involved. THINQTANQ founder Rob Wick is a director of it here in Plymouth and they’re doing some really cool things to make Plymouth more self-sufficient!