Linear Economy is obsolete: time to imagine a new world
In March 2020, the European Commission adopted the new circular economy action plan (CEAP). The goal is to apply a regenerative growth model that keeps resource consumption within planetary boundaries. In this sense, the Plan provides a future-oriented agenda for achieving a cleaner and more competitive Europe. For business, the Commission warns that the “progressive, yet irreversible transition to a sustainable economic system is an indispensable part of the new EU industrial strategy.” The linear pattern of “take-make-use-dispose” must become obsolete!
What does circular economy mean?
The circular economy is a model of production and consumption. It starts with the product design as it thinks in the materials, the uses, and the waste that implies any product. It involves sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products as long as possible.
Circularity is fundamental; currently, the production of materials we use every day accounts for 45% of the CO2 emissions.
Can I achieve circularity?
A competitive and “green” Europe is not solely dependent on achieving environmental objectives. It needs to balance competitiveness, environmental and climate protection, and social responsibility. That is why a circular economy requires a cross-cutting and interdisciplinary approach.
The most important aspect is to be innovative and find the correct networks to share technologies, materials, and waste. Even that may sound like a lot of work, it has enormous benefits. According to the European Commission, a circular economy will improve the security of the supply of raw materials. Also, it will boost economic growth (an additional 0.5% of gross domestic product) and create jobs (700,000 jobs in the EU alone by 2030).
Circular economy can be seen as an opportunity to rebuild our economies and protect the planet. Remember that this transition is irreversible, and the sooner your business applies it, the more expertise you can sell and share.