What is the circular economy?

ESG

It is unreal how innovative a business can become once introduced to the concept of circularity. The circular economy means that businesses stop producing waste. That’s it. Today, we use valuable resources from Earth, and make products from them that we eventually toss in the trash. This process is linear. The circular economy rethinks this – saving money, creating innovative business models, and ultimately helping the planet and people. Hop into this week’s topic all about circular. Plus: we introduce, briefly, The Ellen MacArthur Foundation. They are subject matter experts in this field. Learn from their real world case studies.    

Every single toothbrush you’ve ever used in your entire life is still on Earth – in some form. Isn’t that nuts to think about!? The circular economy is stopping waste from being produced in the first place. If we didn’t have a circular economy – which in a lot of cases we don’t – what do we do we have? A linear process. Basically, we take materials from Earth, we make products from them, and then we throw them away as waste. 

The circular economy is smart for three reasons:

  1. It’s efficient – companies can actually SAVE money by needing less, spending less, wasting less, and gaining goodwill in the market
  2. It’s good for people 
  3. It’s good for the planet 

Circular thinking eliminates waste and pollution. It circulates products and materials at their highest value, and it regenerates nature. The Ellen MacArthur Foundation is the place to go if you want to learn more about the circular economy. They house data, how-to videos, and they showcase real ways you can save money and make a difference. Circularity can sit within your company’s sustainability strategy. Pieces of it are laid out inside your annual reports, and your employee and customer documentations – for example.

Being good is good for business. This topic truly exemplifies outside of the box thinking for the betterment of profits, planet and people. 

Watch the video on this subject. Thanks for learning along with us. 

~ Team ThisRock