With COP26 coming to a close, many of us are thinking about its resounding messages – promoting the idea of both businesses and consumers doing their bit for the planet.
One term that predates the event is the ‘circular economy’. This economic model actually dates back to 1976, but its principles are all the more relevant today.
What is the circular economy?
The circular economy is a drastic shift in the way we produce, use and throw away materials. While the term is applicable to recycling, we can look at it from all stages in the product lifecycle – using sustainable methods to gather materials and make products.
The current economic model follows an unsustainable and damaging process, wherein we extract natural resources, produce goods and throw them away. This causes untold damage to the environment, including:
- The destruction of natural habitats
- Increasing temperatures due to greenhouse gas emissions
- Harmful waste entering the ocean – some 88% of the sea’s surface is polluted by plastic waste.
The circular economy moves away from this take, make and waste cycle. Whereas recycling deals with the final stage, the circular economy helps to prevent waste production in the first place.
The World Economic Forum says: “In a properly built circular economy, one should rather focus on avoiding the recycling stage at all costs. It may sound straightforward, but preventing waste from being created in the first place is the only realistic strategy.”
How the circular economy works
The circular economy seeks to mimic the living model, wherein organic products like plants live, die and biodegrade before being absorbed back into the earth. A circular model seeks to “make waste build capital” by addressing it at the source – product design. This may include:
- Making products and packaging from compostable materials
- Designing products to be disassembled and regenerated, particularly those made from metals, polymers and alloys
- Marketing products for lease rather than ownership, so that they can be returned to their owners.
Once the products have been returned, they can be broken down into organic and inorganic materials. Organic materials can then promote agriculture, such as biomass, while any inorganic materials, such as alloys, can be processed and used again.
Of course, to be truly circular, these parts also need to be transported via environmentally friendly means that don’t consume natural resources.
How is innovation pushing us towards a circular economy?
The circular economy commands innovation and a buy-in from all stages in the supply chain. Thankfully, there are many initiatives funding this. For example, the John Lewis Partnership has teamed up with environmental charity Hubbub and launched a £1 million grant for product innovation.
In previous schemes, the company helped to fund a bio-recycling plant, water refill stations at youth hostels, and even a tool that uses mussels to remove marine microplastics.
How will the circular economy protect our future?
By repairing, reusing and prolonging the value of our materials, we could see huge economic benefits, including a €600 billion cost-saving across Europe by 2030. We would also see a dramatic decrease in fossil fuels – up to 71% in China alone by 2040.
Where Hubba is helping out
At Hubba, we are passionate about recycling business waste. But we understand that there are other ways to help. That’s why we’re working with innovators to reduce the number of collections and foster circular design, rather than recycling new materials. We’re proud of our Zero to Landfill policy and continue to work with UK businesses to reduce their waste. For your free business waste audit, contact Hubba today.