Circular Economy
The circular economy is an economic system aimed at minimizing waste and making the most of resources. It focuses on designing products that can be reused, repaired, and recycled, as well as promoting sustainable consumption and production practices. The goal is to create a closed-loop system where materials and products are kept in use for as long as possible.
8 Key excerpts on "Circular Economy"
eBook - ePubSustainable Economics
Context, Challenges and Opportunities for the 21st-Century Practitioner
- Keith Skene, Alan Murray(Authors)
- 2017(Publication Date)
- Routledge(Publisher)
...This makes it all the more fitting that these concepts should come together. Indeed, the Circular Economy has as its main concern the management of the economy in such a way as to leave the house undamaged. 6.2 A range of definitions Tim Cooper, one of the earliest protagonists of the Circular Economy in the United Kingdom, comments that: The model of a linear economy, in which it is assumed that there is an unlimited supply of natural resources and that the environment has an unlimited capacity to absorb waste and pollution, is dismissed. Instead, a Circular Economy is proposed, in which the throughput of energy and raw materials is reduced (Cooper, 1999; p. 10). In its most basic form, a Circular Economy can be loosely defined as one which balances economic development with environmental and resources protection (UNEP, 2006) and in this form, it appears to be inseparable from industrial ecology, or, indeed, sustainable development. Its uniqueness comes from two interconnected ideas, the closed-loop economy and Cradle to Cradle ® thinking. UNEP developed its definition of the Circular Economy as featuring low consumption of energy, low emission of pollutants and high efficiency, using it as a generic term for an industrial economy which is, by design or intention, restorative and in which material flows are of two types—those which are biological nutrients, designed to re-enter the biosphere safely, and technical nutrients, which are designed to circulate at high quality without entering the biosphere. The aims are to “design out” waste, to return nutrients and to recycle durables, using renewable energy to power the economy (UNEP, 2006). The Ellen MacArthur Foundation also defines the Circular Economy as an industrial system that is restorative or regenerative by intention and design...
eBook - ePubPost-growth Economics and Society
Exploring the Paths of a Social and Ecological Transition
- Isabelle Cassiers, Kevin Maréchal, Dominique Méda, Isabelle Cassiers, Kevin Maréchal, Dominique Méda(Authors)
- 2017(Publication Date)
- Routledge(Publisher)
...Given that the regional government repeatedly expressed its political will to render its economy more circular (a Regional Programme for Circular Economy has been adopted in March 2016), our analysis could inform the public choice among available options for the case of biowaste management. Theoretical framework Circularization of economic flows The use of the term “Circular Economy” has been applied to an array of heterogeneous ideas at different scales such as waste reduction, the restoration of natural resources, the generation of renewable energies, the creation of entrepreneurial opportunities, a new industrial revolution, the relaunch of economic growth in Europe and the sustainability of growth in emerging countries (Lyle 1985; Stahel 2010; McDonough and Braungart 2002; Ellen MacArthur Foundation and Granta Design 2015). The meaning of the term in non-scientific language has been shaped by consultants, private foundations, multinational corporations and governments at different levels. The fuzzy and polysemic character of “Circular Economy” might explain why the term has yet to make significant inroads into the scientific literature, especially in economics. Since it is therefore difficult to extract a robust and clear definition from the use of “Circular Economy” in public discourse, we propose a definition in form of two mutually exclusive Weberian ideal-types: • Linear flows. These are material or energy flows that start with the extraction of a resource, go through a phase of transformation and consumption and end up as waste. Since the second half of the nineteenth century, all economic activities resemble this ideal-type in that they rely on the extraction of raw materials and generate waste in variable but always positive quantities (Georgescu-Roegen 1987; McNeill 2001). • Circular flows. These flows have neither clear beginning nor end: when a certain process ejects a substance, the latter is then consumed as useful input by another process...
eBook - ePub- Prasad Modak(Author)
- 2021(Publication Date)
- CRC Press(Publisher)
...In the last five decades, several initiatives have been taken across the world on sustainable and responsible management of wastes and resources. These initiatives have led to positive outcomes at the facility level, across supply chains, over product life cycles and in some cases influencing the regional economy and the policy frameworks. The evolution of a Circular Economy is perhaps better understood if we familiarize with some of the key concepts. Chapter 2 explains these concepts in a narrative and unfolds the canvas of Circular Economy. 1.5 Key Takeaways Population growth, urbanization, and global trade have been the major factors toward the rising consumption of resources. Ecological footprints of many cities and regions have exceeded their biocapacities. Economic development and the generation of wastes and GHG emissions are coupled. That gives a challenge and a threat to the limited resources we have. Decoupling between economic development and wastes and emissions is, therefore, necessary in the interest of planet's sustainability. There is evidence of decoupling, however, more systematic efforts are needed to reduce consumption of virgin material resources, improve resource efficiency, extend product life, and practice reuse, recovery, and recycling of used resources. Practicing a Circular Economy could be such a systematic strategy which would address the aforementioned challenges. Additional Reading Rising population and urbanization Urban world: Cities and the rise of consuming class: This report from 2012 focuses on the economic power of cities, the expansion of the consuming class, and the implications of the increase in consumption on the infrastructure and natural resources. Source: McKinsey Global Institute...
- Terry Tudor, Cleber JC. Dutra, Terry Tudor, Cleber JC. Dutra(Authors)
- 2020(Publication Date)
- Routledge(Publisher)
...It aims to promote the responsible and cyclical use of resources, to reduce material input and waste generation, and to decouple economic growth from natural resource use (Blomsma and Brennan, 2017; Homrich et al., 2018; EASAC, 2016; EEA, 2016; Pauliuk, 2018). It requires an optimised closing of the ‘loop’ and a reduction in the need for the extraction of virgin raw materials by minimising waste, extending product life, maintaining materials at their highest level, optimising reuse, and utilising energy sources such as biomass (Webster, 2015; Stahel, 2016). For example, the EU’s Circular Economy Action Plan (EC, 2015) notes that a CE occurs when “the value of products, materials and resources is maintained in the economy for as long as possible, and the generation of waste minimized” in such a way so as to “develop a sustainable, low carbon, resource efficient and competitive economy.” It is associated with other concepts, such as industrial symbiosis (Chertow and Ehrenfeld, 2012) and eco-cities, a concept that has grown rapidly in countries such as Japan and Singapore (Dong et al., 2016). Products and materials keep circulating in a high-value state of use, through supply chains, for as long as possible (ZWS, 2019). These processes require all stakeholders (e.g., designers, businesses, communities, governments, and individuals) to be involved (Bocken et al., 2016; Jiang and Zheng, 2014; Kirchherr and Piscicelli, 2019). For example, some 80% of environmental impacts are made at the design stage (EMF, 2019). However, if we can ‘get it right,’ then the benefits are significant...
- Robert C. Brears(Author)
- 2018(Publication Date)
- Palgrave Macmillan(Publisher)
...A key aspect of this approach is that materials, which have accumulated in the Circular Economy, constitute important man-made stocks that can be exploited through recycling to gain secondary raw materials and reused and remanufactured to keep products in the commercial life cycle. 51 Decoupling Economic Growth from Resource Use The aim of the Circular Economy is to decouple economic growth from resource use and associated environmental impacts. The notion of decoupling is that economic output shall continue to increase at the same time as rates of increasing resource use and environmental impact are slowed, and in time brought into decline. 52 Specifically, decoupling is said to be absolute when the environmental variable is stable or decreasing while the economic variable is growing. Decoupling is considered relative when the environmental variable is increasing but at a lower rate than the economic variable...
eBook - ePubWaste to Wealth
The Circular Economy Advantage
- Peter Lacy, Jakob Rutqvist(Authors)
- 2016(Publication Date)
- Palgrave Macmillan(Publisher)
...The regenerative capacities of land, forests, and water are becoming strained past their limits. And planetary boundaries are threatened as never before. A situation illustrated with frightening clarity by the World Wildlife Fund for Nature’s 2014 Living Planet Report that showed a measurement of 10,000 populations of key species, designed to be representative of global wildlife, had declined by 52 percent since 1970. 2 Put simply, the current economic system is unsustainable. Economic growth, long seen as a universal remedy for a range of ills – recession, for instance – is now the source of the globe’s thorniest problems. Stopping or reversing economic development is neither socially acceptable nor desirable. But the growth engine of the past is simply incompatible with the complex needs of today’s global environment, economy, and societies. LINEAR ECONOMY, Circular Economy AND CIRCULAR ADVANTAGE The linear economy is a term for the current economic growth model, where “linear” refers to the cradle-to-grave flow of most natural resources (also described as “take-make-waste”). This linear flow is the consequence of historically cheap and abundant resource supplies leading companies and nations to focus on supplying customers an ever-increasing throughput of goods. In the linear model, environmental impact is largely unaccounted for and incentives to minimize waste during use and product end-of-life are weak. Little attention is paid to ensuring discarded goods are put into new use or back into a production process as raw material. The Circular Economy is a generic term for an economy where growth is decoupled from scarce resource use. This model is regenerative by design. Material use is of two types: biological (renewable) materials, designed for reuse and ultimate return to the biosphere; and technical (nonrenewable) materials, designed to move back and forth between production and consumption with minimal loss in quality or value...
eBook - ePubThe Guide to the Circular Economy
Capturing Value and Managing Material Risk
- Dustin Benton, Jonny Hazell, Julie Hill(Authors)
- 2017(Publication Date)
- Routledge(Publisher)
...This is where co-operation between companies might be easiest to organise and control, and yield the most benefits — but that doesn’t mean that more local and even global circles can’t also work well. Figuring out what is the best scale for a Circular Economy ultimately rests on the balance between the value of a product or material, and the cost of transport — as in any supply chain. Existing circular recycling systems for the precious metals in automotive catalysts for instance, are global, because precious metals are hugely valuable. Circular systems for remanufactured industrial engines and pumps are also global. In contrast, circular models for getting the most value out of food waste probably need to be very local to minimise the cost and environmental impact of moving heavy, low value organic material. No. 6: The Circular Economy idea has been reaching maturity over the last three decades The Circular Economy idea is not new. It was first sketched out by Walter Stahel (www.product-life.org/en/about), a Swiss architect, who in the 1970s came up with the idea of an economy in ‘loops’ that would recycle resources into productive use rather than losing them, and generate more jobs in the process. The idea is also central to the academic discipline of ‘industrial ecology’ which extends to the whole economy, the idea of industries using each other’s waste products (termed ‘industrial symbiosis’) and studies the practical ways in which this can be made a reality. Also influential has been the ‘Cradle to Cradle’ (www.c2ccertified.org/) concept, promoted by German chemist Michael Braungart and American architect Bill McDonough, where the aspiration is that everything is designed to be reclaimed and remade. The Japanese have also been central to the development of the Circular Economy, using ‘producer responsibility’ legislation: the makers of products are obliged to ensure that they are recovered and recycled...
eBook - ePub- Martin Charter, Martin Charter(Authors)
- 2018(Publication Date)
- Routledge(Publisher)
...5 Circular Economy policy Anne-Marie Benoy and Johanna Lehne Introduction In recent years, the concept of a Circular Economy (CE) has gained traction as a new model of sustainable economic development. Notwithstanding the proliferation of private sector initiatives and the accelerated push for appropriate policy interventions at different levels, what constitutes definitive CE policies remains in question. This is in part because a number of different philosophies of environmental thinking, such as industrial ecology, waste management, resource and energy efficiency and eco-design have been around for many decades and shaped what we now understand as the CE. The ‘closed-loop’-type thinking associated with CE, for example, has roots in industrial ecology (IE), which emerged as an academic field around 30 years ago and focuses on embedding ‘resource cycling’ through material and energy flows in industrial systems (Preston, 2011). Modern solid waste management practices date back to nineteenth- century ‘dust-yards’ (Velis et al., 2009), and twentieth-century efforts of phasing out landfills (e.g. Denmark introduced a landfill tax in 1987, Kjær, 2013), applying the waste hierarchy and life-cycle thinking, and concerns around hazardous wastes and environmental pollution (e.g. Clean Air Act, 1956 in the UK and Clean Water Act, 1972 in the United States) to name but a few. Alongside these, energy and resource efficiency has shaped CE thinking as efficiency processes were incorporated in industrial and resource management, not only due to environmental concerns but also because of recurring resource scarcity, oil price volatility (particularly in the 1970s) or geopolitical challenges. Cradle to Cradle (C2C) design philosophy, developed by Michael Braungart and William McDonough, has also inspired many CE proponents...
