Circular economy is an economic model that aims to keep resources in use for as long as possible, extract the maximum value from them while in use, then recover and regenerate products and materials at the end of each service life. This is accomplished by designing waste out of production systems, using just-in-time manufacturing processes with short supply chains, increasing the efficiency with product design, and reducing consumption through smart technologies. This process has many benefits including job creation; it can reduce poverty; promote regional development; provide environmental protection; increase energy independence; improve air quality (by reducing fossil fuel usage), water quality (through conservation); and reduce greenhouse gas emissions (which contribute to climate change). This article will go over four examples of this type of economy.
Zero Waste Dining.
This is one of the circular economy examples that aim to reduce food waste in various ways. Some restaurants are using circular approaches such as re-purposing leftovers into new dishes, donating excess supplies to charities, and composting leftover scraps. Additionally, materials such as straws, plastic silverware, and cups are being replaced with sustainable alternatives.
Food Banks that Re-Purpose Leftovers into New Recipes.
As another circular economy food example, some organizations take leftovers from supermarkets and restaurants and turn them into free meals for the homeless or people in need; this reduces waste while also feeding those less fortunate. The National Resource Defense Council estimates that 40% of the US’s wasted food could be used to feed over 15 million Americans each year!
A Loop Recycling Program.
This circular approach reduces textile waste by recycling end-of-life clothes back into new products through their material recovery facility (MRF) in the UK. To recycle a single shirt, it takes about 12 plastic bottles and 17 aluminum cans! Their circular economy approach helps to reduce waste and creates jobs for those collecting materials from collection points across the country.
Creating Jobs through Reuse.
Some companies have decided to reduce their carbon footprint by taking a
circular economy examples approach. Some companies create shoes made from recycled ocean waste! These are just a few examples out there that can be used as inspiration for your circular economy business idea. These innovative ideas create jobs where there were none before!
To conclude, a circular model allows companies to reduce costs through improved efficiencies while also creating jobs around recycling operations, increasing local employment opportunities at no additional cost to consumers. There is no doubt that the benefits of implementing circular models extend beyond environmental savings.