The circular economy is a generic term for an industrial economy that is producing no waste and pollution, by design or intention. It is more than just thinking green or promoting reuse. The core principles which drive the circular economy are , every thing comes from nature and hence it need to be given back in purest state to nature
,’design for restoration and regeneration’ and just recyling, products should be designed to provide highest utility at all time
Ellen Macarthur Foundation has been pioneering this concept and is playing active role in on-boarding corporates to think of new business models promoting circular economy.
Examples of Circular Economy in Action
REEP : Freedom to print
REEP which calls itself as Digital office solution provider is pioneering a new model of erasing printed papers after storing the content in the cloud and allowing it to be reused. It is a disruptive approach to tackle the limited success of ‘ Go green.Go paperless’ campaigns widely adopted in several companies. They used the circular economy thinking to come up with a new innovative solution which allows the contents to be erased from printed papers and restores it for reprinting.
Scottish Government Circular Economy Strategy
The Scottish Government developed a strategy in 2016 to move the country towards a more circular economy, aligning its economic and environmental objectives. Their focus is on moving beverages,construction and energy industry towards Circular economy and driving benefits of ~£3 billion by 2020.
Patagonia :Worn Wear service
Patgonia a leading clothing US retailer launched a innovative service to repair and sell worn clothes.
The premise of the service is based on circular economy thinking that worn clothes need not be thrown off but can be repaired to maximize its utility.They believe ‘Repair is a radical act’.
Circular economy teaches us to rethink problems and solutions by asking key questions like,’What can I do to maximize value’, ‘how can I promote zero waste thinking’, ‘how can I make capital from waste’. Worth applying in the software development, marketing campaigns, products with use and throw cycle etc.