What is the Circular Economy?

The Business Benefits of Contributing to the Circular Economy

The circular economy is a model based on six principles.  The idea is that human actions and consumption do not damage the planet.  This post will show you how your business fits into and can contribute to the circular economy and the benefits of doing so.

The Six Principles of the Circular Economy

There are six principles fundamental to the circular economy on a global scale.  They are:

  • Materials - all materials will be recycled infinitely
  • Energy - All energy sources will be renewable and or obtained from sources which are sustainable
  • Ecosystem - Human activities will support/rebuild natural resources and habitats
  • Value - All resources are used to generate value
  • Health - Human activities will be conducive to human health and happiness
  • Society - Human activities will be conducive to a better society and culture

How can my Business contribute to the Circular Economy?

Without getting too grandiose about the global aspects of the circular economy, or that it is hard to do business when the UK is underwater, you can still play your part.  Before we talk about business costs, let us take a look at the circular economy in more specific terms for UK business.

The circular economy for the UK comprises the following:

  • Waste Reduction
  • Get more output from production/manufacture processes for fewer resources consumed
  • A more competitive economy
  • Address future resources security/scarcity issues
  • Reduce consumption/production in the UK and overseas

How can my Business Benefit from Contributing to the Circular Economy

Depending on your industry, you may be able to address a number of these points.  All UK businesses however, should be able to reduce and recycle business waste.  Waste collection and management is a growth industry.  As such, your business can profit from reducing and recycling waste.

Recycling Business Waste

The fact is there is money to be made from recycling your business waste.  Most UK businesses are not capitalising on revenue opportunities in this regard.  Waste collectors are always looking to recycle materials from the basic paper and glass, to specialised waste such as metals and electronics. 

Reducing Business Waste

Reducing your business waste will allow you to save money.  In many respects, it is about instilling the right culture into your workplace to get results.  Often, it can be the little things that make all the difference.  If you are going for sustainability certification, this should fall under this remit.  Even if you are not, this is still a worthwhile endeavour.  The trick is to ensure you do not impede the needs of the business as you look at ways to reduce your business waste.

Public Relations

As well as benefiting directly from selling your business waste and reducing the amount you consume, you can also use it for effective branding and PR.  Branding yourself as a 'green business' is not just good for the image, but in today's world a necessity to win contracts.

Contribute to the Circular Economy with the Green Alchemist App

The Green Alchemist app will give you access to the waste stock market, so you can see how much your waste is worth, and it will give you the contact details of nearby waste collectors.  Not only will you be able to arrange for your waste to be collected quickly, you will be able to negotiate a good deal. 

To begin, simply click here and register by completing the form.

 Sources/Further Reading:

Wrap.org

Circle-economy

The Guardian Newspaper