What is The Circular Economy?
Maybe you’ve heard about this concept of a circular economy, maybe you haven’t. Either way, you can expect to hear more about it in the future. Here’s a quick primer.
A Basic Overview
Take. Make. Dispose. These three words used by The Ellen McArthur Foundation describe the current industrial model and linear economy. Extracting materials, making them into products, and throwing them out at the end of their life: this is the linear economy. It relies on large quantities of cheap, easy-to-access materials and energy, and is a model that is reaching its limits.
In contrast, the circular economy is restorative and regenerative by design. This new economic model aims to keep products, components, and materials at their highest utility and value at all times. Relying on system-wide innovation the circular economy is intended to redefine products and services to design waste out while minimising negative impacts.
Watch this video for a more detailed explanation of the concept:
(Video Source: The Ellen McArthur Foundation)
Do We Need a Circular Economy?
It’is important to realize that many of the materials used in today’s products are not renewable. We’ve written about Urban Mining and how it can recover valuable materials like gold and copper from e-waste, but what if we didn’t create e-waste in the first place? Zero waste is a possibility the concept, principles, and characteristics the circular economy offers.
Greentec, E-Waste, and the Circular Economy
In the long run, a new economic concept alone doesn’t solve all of our environmental woes. However, it does provide a way for product brands and manufacturers to shift to producing zero waste. Original Equipment Manufacturers (OEMs) who want to embrace the circular economy will benefit from working with expert partners to support the restoration of materials and regeneration of products with zero e-waste.
Greentec leads the emergence of the circular economy by supporting businesses and institutions with secure e-waste recycling and ITAD solutions. We are also committed to innovating how e-waste materials are processed so we can recover more materials, more efficiently.