Production model to minimise wastage and emissions
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A circular economy (also referred to as circularity or CE)[2] is a model of resource production and consumption in any economy that involves sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products for as long as possible.[3][4][5][6] The concept aims to tackle global challenges such as climate change, biodiversity loss, waste, and pollution by emphasizing the design-based implementation of the three base principles of the model. The three principles required for the transformation to a circular economy are: designing out waste and pollution; keeping products and materials in use, and regenerating natural systems.[7] CE is defined in contradistinction to the traditional linear economy.[8][9] The idea and concepts of a circular economy have been studied extensively in academia, business, and government over the past ten years. It has been gaining popularity because it can help to minimize carbon emissions and the consumption of raw materials, open up new market prospects, and, principally, increase the sustainability of consumption.[10][11]
At a government level, a circular economy is viewed as a method of combating global warming, as well as a facilitator of long-term growth.[12] CE may geographically connect actors and resources to stop material loops at the regional level.[13] In its core principle, the European Parliament defines CE as "a model of production and consumption that involves sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended."[4] Global implementation of circular economy can reduce global emissions by 22.8 billion tons, 39% of global emissions in the year 2019.[14] By implementing circular economy strategies in five sectors alone: cement, aluminum, steel, plastics, and food 9.3 billion metric tons of CO2 equivalent (equal to all current emissions from transportation), can be reduced.[15][16][17]
In a circular economy, business models play a crucial role in enabling the shift from linear to circular processes. Various business models have been identified that support circularity, including product-as-a-service, sharing platforms, and product life extension models, among others.[18] These models aim to optimize resource utilization, reduce waste, and create value for businesses and customers alike, while contributing to the overall goals of the circular economy.
^Geissdoerfer, M., Pieroni, M.P., Pigosso, D.C. and Soufani, K. (2020). "Circular business models: A review" (PDF). Journal of Cleaner Production. 277: 123741. doi:10.1016/j.jclepro.2020.123741. S2CID 225282542.{{cite journal}}: CS1 maint: multiple names: authors list (link)
^"Circularity Indicators". www.ellenmacarthurfoundation.org. Archived from the original on 2019-07-31. Retrieved 2019-03-14.
^"Circular Economy Ireland". mhc.ie. Mason Hayes & Curran. Retrieved 28 November 2023.
^ ab"Circular economy: definition, importance and benefits | News | European Parliament". www.europarl.europa.eu. 2015-02-12. Retrieved 2021-10-07.
^Iacovidou, Eleni; Hahladakis, John N.; Purnell, Phil (2021). "A systems thinking approach to understanding the challenges of achieving the circular economy". Environmental Science and Pollution Research. 28 (19): 24785–24806. Bibcode:2021ESPR...2824785I. doi:10.1007/s11356-020-11725-9. PMC 8144154. PMID 33289042.
^Kirchherr, Julian; Reike, Denise; Hekkert, Marko (2017). "Conceptualizing the circular economy: An analysis of 114 definitions". Resources, Conservation and Recycling. 127: 221–232. doi:10.1016/j.resconrec.2017.09.005.
^"New to circular economy overview". ellenmacarthurfoundation.org. Retrieved 2021-12-06.
^Cite error: The named reference Reuter was invoked but never defined (see the help page).
^Tunn, V. S. C.; Bocken, N. M. P.; van den Hende, E. A.; Schoormans, J. P. L. (2019-03-01). "Business models for sustainable consumption in the circular economy: An expert study". Journal of Cleaner Production. 212: 324–333. doi:10.1016/j.jclepro.2018.11.290. ISSN 0959-6526. S2CID 158627557.
^Shpak, Nestor; Kuzmin, Oleh; Melnyk, Olga; Ruda, Mariana; Sroka, Włodzimierz (August 2020). "Implementation of a Circular Economy in Ukraine: The Context of European Integration". Resources. 9 (8): 96. doi:10.3390/resources9080096. ISSN 2079-9276.
^Calisto Friant, Martin; Vermeulen, Walter J. V.; Salomone, Roberta (2020-10-01). "A typology of circular economy discourses: Navigating the diverse visions of a contested paradigm". Resources, Conservation and Recycling. 161: 104917. doi:10.1016/j.resconrec.2020.104917. ISSN 0921-3449. S2CID 222121823.
^Castro, Camila Gonçalves; Trevisan, Adriana Hofmann; Pigosso, Daniela C. A.; Mascarenhas, Janaina (2022-04-15). "The rebound effect of circular economy: Definitions, mechanisms and a research agenda". Journal of Cleaner Production. 345: 131136. doi:10.1016/j.jclepro.2022.131136. ISSN 0959-6526. S2CID 247150037.
^Cite error: The named reference Circle was invoked but never defined (see the help page).
^"Completing the picture: How the circular economy tackles climate change". ellenmacarthurfoundation.org. Retrieved 2023-06-19.
^Cite error: The named reference :1522 was invoked but never defined (see the help page).
^"COMPLETING THE PICTURE: HOW THE CIRCULAR ECONOMY TACKLES CLIMATE CHANGE" (PDF). circulareconomy.europa.eu/.
^Urbinati, Andrea; Chiaroni, Davide; Chiesa, Vittorio (2017-01-01). "Towards a new taxonomy of circular economy business models". Journal of Cleaner Production. 168: 487–498. doi:10.1016/j.jclepro.2017.09.047. hdl:11311/1087435. ISSN 0959-6526. S2CID 157679243.
A circulareconomy (also referred to as circularity or CE) is a model of resource production and consumption in any economy that involves sharing, leasing...
The circular flow of income or circular flow is a model of the economy in which the major exchanges are represented as flows of money, goods and services...
Canadian-born Scottish politician, who served as Minister for Green Skills, CircularEconomy and Biodiversity in the Scottish Government from 2021 to 2024. She...
Circular fashion is an application of circulareconomy to the fashion industry, where the life cycles of fashion products are extended. The aim is to create...
project, and advanced e-government services. Estonia's commitment to a circulareconomy, innovation and its success in maintaining a balanced budget, low public...
for a circulareconomy: What can inspiring examples show us?" (PDF). European CircularEconomy Stakeholder Platform. April 2021. "A circulareconomy podcast...
to alternative frameworks for economic change such as a circulareconomy, steady-state economy, degrowth, doughnut economics and others. Approximately...
law on its climate merits, and also introduce new legislation on the circulareconomy, building renovation, biodiversity, farming and innovation. The president...
renewable" by 2030. The circular electronics partnership is a group of companies that have committed to creating a circulareconomy. A circular "operating system"...
profit". The name of this approach is the triple bottom line. The circulareconomy is a related concept. Its goal is to decouple environmental pressure...
the circulareconomy, including as a founding member and co-chair of the board of directors for the Platform for Accelerating the CircularEconomy (PACE)...
Platform for Accelerating the CircularEconomy (PACE), which is a global public private partnership seeking to scale circulareconomy innovations. PACE is co-chaired...
management include measures for integrated techno-economic mechanisms of a circulareconomy, effective disposal facilities, export and import control and optimal...
flows, incorporating themes of sustainability and the theory of a circulareconomy. It is used in social, medical, and urban contexts. However, MFM has...
sustainability sector, pursuing a business model based on the concept of the "circulareconomy". The company develops bio-based alternatives to petroleum-based products...
ecolabelling. This way of thinking is expressed in the concept of circulareconomy, which employs reuse, sharing, repair, refurbishment, remanufacturing...
sustainability and the implementation of a circulareconomy, and received the Fortune Award for CircularEconomy Leadership at an event around the 2018 World...
Off the Tap: How the World Can End Plastic Pollution and Create a CircularEconomy" is a report published in May 2023 by the United Nations Environment...
scholars and researchers focused on creating economic models, such as circulareconomy, that rely less on resource extraction, and more on reuse, recycling...
works with business and education to accelerate the transition to a circulareconomy. MacArthur was born in Derbyshire where she lived with her parents...
Bhalswa landfill Mavallipura Waste management in India Kumar, S. (2023). CircularEconomy in Municipal Solid Waste Landfilling: Biomining & Leachate Treatment...