Circular Economy Can Add $1 Trillion a Year and 100,000 Jobs: Report
(3BL Media/Justmeans) â At a time when human beings have far exceeded the Earthâs capacity to sustain the current consumption levels for long, a new paradigm called the Circular Economy is showing great promise. As the name suggests, a Circular Economy goes beyond recycling and focuses on eliminating material loss and waste through careful design. It supports systems that help eradicate waste not just from manufacturing processes, but throughout the life cycle of products and their components.
âTowards the Circular Economy,â a 2014 report from the World Economic Forum, the Ellen MacArthur Foundation and McKinsey & Company estimates that shifting to this model could add more than $1 trillion every year to the global economy by 2025 and create 100,000 new jobs within the next five years. This is possible if businesses start focusing on building circular supply chains and increase the rate of recycling, reuse and remanufacture.
Tetra Pak, the global food packaging and processing company is an example of how businesses can deploy the Circular Economy model today. Tetra Pak uses fewer raw materials in its carton packages, sources them from renewable, sustainable and certified resources as far as possible, and acts as a catalyst to promote recycling of used beverage cartons.
Unilever, the global consumer goods giant, has developed a Sustainable Living Plan that is designed to help ensure long-term stability of its supply chain as well as protection of the planetâs natural resources. According to the company, it sustainably sourced 48 percent of its agricultural raw materials last year, and plans to source 100 percent of its raw material sustainably by 2020.
Ricoh, the Japanese electronics and imaging multinational, has put in place a program called the Comet Circle to reduce its environmental impact. The primary directive of the program is to design and manufacture all product parts in such a way that they could be recycled or reused. The companyâs GreenLine label is one of its key success stories today.
Mud Jeans, a Dutch company, has developed an innovative leasing scheme for jeans. The company promotes the concept of âusingâ rather than âowningâ jeans. Consumers pay â¬5.95 a month to lease a pair of jeans, which they can return after a year, trade them for a new pair, and begin another yearlong lease.
Source: Huffington Post
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