🍃 What is the Circular Economy really about?

350 words | 1 min, 55 secs

Did you know?

Traditional production cycles are linear: create, use, dispose.

However, the circular economy challenges this by keeping resources in use for as long as possible.

This approach reduces waste dramatically and can increase resource efficiency by up to 60% in some industries.

(Source: Ellen MacArthur Foundation)

The big idea:

The circular economy is reshaping how we think about production and consumption.

By designing products for reuse, recycling, and sharing, companies like Orsted are not just reducing their environmental footprint; they're also pioneering new business models.

This shift not only preserves the environment but also enhances profitability through innovative use of resources and reduced costs associated with waste management.

The traditional linear business approach is one of huge flaws and waste. On average, only 7.2% of all resources use globally is secondary. Or perhaps more interesting - 92.8% of all resources used globally is only used once.

That is an insurmountable amount of money we don't even try to utilise.

[Source: https://www.circularity-gap.world/2024]

Tip of the week:

→ Design for longevity

If you have a product based business, this is for you.

Consider how your products are designed and challenge your team to think about end-of-life recovery from the start.

Can components be easily disassembled and reused?

Are materials chosen for their durability and recyclability?

Embracing design for longevity not only aligns with the circular economy but can also differentiate your brand in the marketplace. And this is just one area of the circular economy. There is so much potential.

If you’ve read this far... why don’t you see how else I can help you:

• Get your FREE sustainability score here.

• For daily updates, connect with me on LinkedIn here.

• Want to work with me? Start here.

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Best, Jasper