What Is Circular Economy?
Since our current economic system is considered to be a ‘linear economy’ which prioritizes profit over sustainability, that is we extract raw materials from nature turn them into new products and again discard them into nature as waste, it is a concern that the environment is gradually draining its health as the burden contributes to issues like catastrophes and population crises.
How Can We Curb This?
‘Circular Economy’ can play a pivotal role in solving these challenges. It is practiced to eradicate these issues which promotes a sustainable use of natural resources through recycling, enhanced product design, lasting use and so on. This can not only minimize pollution but also biodiversity loss and climate change.
Also read| IIT Bombay Conducts Research On Circular Economic Model For Healthcare Waste Managemen
Let’s Get Acquainted With The Circular Economy In Detail
Circular Economy is not just about waste management, it is doing a lot more than that as it approaches every nook and corner of our country. And this is now being employed in different kinds of sectors including construction and entrepreneurship.
For instance: employees in the garments field take the initiative as they weave clothes from natural cotton, and natural fibres and use colouring agents. This will further contribute to bespoke materials which have high quality, safeguarding the health of both the customer and the environment. These clothes can be thrifted and recycled as well.
It has been a wider practice in India, especially in rural areas that the animal wastes are converted into natural fertilisers and then processed into biogas which is used for cooking and other related house chores. It is a reality that global material consumption has surged by 65%, reaching a staggering 95.1 billion metric tons in 2019. In the Netherlands, the Dutch government announced a project that would make the country a 100% Circular Economy by 2050.
Since food waste and electronic waste crisis are largely mismanaged in our country along with other climate issues, it is crucial to shift into a Circular Economy that would further help us to build a more regenerative and responsible relationship between humans and nature.
What is the difference between Linear economy and Circular economy?
The difference between circular and linear economy majorly lies in how values are being “created” or “maintained”. When Linear economy lies on viewing products as dispensable, the circular economy drives with the motto – “reduce-reuse-recycle.”
As linear economy result in increased exploitation of resources, circular economy is conscious about mitigating or eradicating the environmental impact. The resource efficiency underlined on circular economy, thereby, greenhouse gas emissions are being reduced.
Read also: The 7 Pillars Of Circular Economy
Even though sustainability is the compelling motive in both economies, the approach is different. As linear economy focuses on eco-efficiency, circular economy dwells on increasing the eco-effectiveness of the system. When the intention of the linear economy ends with reducing the ecological impact, circular economy extends to incorporate positive impact in ecological, economic and social level.
The product life cycle of linear economy is short-lived, the circular economy designs a longer one where “use, reuse, and recycling of products” is given prominence. In matters of waste management practices, though linear economy employs the most impactful waste disposal methods, the circular economy ensures more sustainable method.
With regarding consumer engagement, consumers are primarily passive purchasers of products in linear economy, in contrast, consumers are actively engaged.
Read also: UNECE, OECD Guidelines For Measuring Circular Economy
To a large extent, circular economy results in annihilating social inequalities. As greater waste production and disposal can endanger vulnerable communities, the circular economy can generate positive social impact.
In conclusion, in comparison to linear economy circular economy posit answers to existing environmental, economic, and social challenges and most importantly, the approach is not limited to sustainability. Therefore, adoption of circular economy is the pressing priority for the society- not just for today but for future as well.
