What is a circular economy?
The concept of the ‘circular economy’ emerges as a transformative approach poised to revolutionize economy, fostering economic growth while mitigating environmental impact.
A circular economy is an economic system based on the reuse and regeneration of materials or products, especially as a means of continuing production in a sustainable or environmentally friendly way.
The circular economy is a system where materials never become waste and nature is regenerated. In a circular economy, products and materials are kept in circulation through processes like maintenance, reuse, refurbishment, remanufacture, recycling, and composting. The circular economy tackles climate change and other global challenges, like biodiversity loss, waste, and pollution, by decoupling economic activity from the consumption of finite resources.
The circular economy is based on three principles, driven by design:
· Eliminate waste and pollution
· Circulate products and materials (at their highest value)
· Regenerate nature
Let’s see how these principles apply to replenishing biodiversity-
Eliminate waste and pollution – to reduce threats to biodiversity
In a circular economy, driven by design, waste and pollution are eliminated so these direct threats to biodiversity are reduced. For example, eliminating unnecessary plastics and re-designing plastic products to have value post-use (for reuse, recycling or composting) means they can circulate in the economy rather than being wasted and polluting the environment.
Circulate products and materials – to leave room for biodiversity
When products and materials are circulated in the economy, the need for production from virgin materials is reduced. In fashion, for example, business models that keep cotton clothing in use for longer, assuming the purchase of new clothes is displaced, will reduce the amount of land needed to grow cotton. This leaves more space for other uses, including the preservation of wilderness areas.
Regenerate nature – to enable biodiversity to thrive
Economic activity can, and needs to, actively rebuild biodiversity. For example, regenerative agricultural approaches, such as agroecology, agroforestry, and managed grazing, sequester carbon in the soil and improve its health, increase biodiversity in surrounding ecosystems, and enable agricultural lands to remain productive instead of degrading over time, thereby reducing pressure to expand them.
Reference: https://lnkd.in/dUK5umyz and FE Green Sarathi (https://lnkd.in/dR8E-Hmi)
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