The circular economy is gaining momentum in the political, economic, and scientific fields as one of the leading solutions to increasing waste and decreasing natural resources on our planet. Several upcoming events and new resources aim to help businesses make the transition from linear to circular.
Most of the products we purchase today are made from new materials and designed to end up in the landfill – a linear model of take-make-waste. Approximately 91.4% of our economy operates in this way. What’s more, it is estimated that two thirds of global greenhouse gas emissions are released during the extraction, processing, and manufacturing of goods.
In the circular economy, products are designed to be reused, repaired, redistributed, reconditioned, and recycled, keeping materials in use for as long as possible. As a result, pollution and waste are reduced or eliminated. Building a circular economy means rethinking how products are designed, manufactured, used, and treated at the end of their useful life.
The circular economy offers significant opportunities for businesses in all sectors to reduce their environmental impact, generate new revenue streams, and create green jobs for the future. It offers an opportunity for manufacturers to reduce their reliance on scarce natural resources, and allows businesses of all types to function more effectively in a resource-constrained world.
Businesses interested in examining these concepts further should explore the following resources and events:
World Circular Economy Forum – free, and hosted virtually in Canada!
September 13 to 15
Circular Cowichan – Business Opportunities in the Circular Economy – co-hosted by Economic Development Cowichan!
National Zero Waste Council – Circular Economy Business Toolkit