26 October 2024
Why is a Circular Economy Important?
What is a circular economy?
A circular economy is a way of producing and consuming goods and services that aims to reduce waste and promote the sustainable use of natural resources. In New Zealand, the circular economy is based on three principles:
- Design out waste: Design products for reuse, repair, refurbishment, or remanufacturing.
- Keep resources in use: Keep products and materials in use for as long as possible.
- Regenerate natural systems: Protect and regenerate natural systems like forests and estuaries.
All sectors of business are involved somewhere in the economy and in the supply chain of consumer goods or services. The concept of the circular economy connects all these business and minimises waste at every transaction, including the transaction from the business supply chain to the consumer, while regenerating natural systems.
Some examples of circular economy work in New Zealand include:
- Paint and packaging: Unused paint and its packaging can be recycled or reused.
- Child car seats: The SeatSmart child car seat recycling program has 45 collection sites across New Zealand.
- Coffee cups: Havana Coffee Works and Again Again created a returnable coffee cup system.
- Concrete: Envirocon works with concrete companies to divert excess concrete into precast concrete construction systems.
How do we build a circular economy?
Some say that a circular economy requires bold government leadership, a shift in mindset, and collaboration on a scale never seen before.
Governments can implement policies that promote the circular economy, such as extended producer responsibility and waste reduction targets. Businesses can adopt circular business models, such as product-as-a-service and closed-loop recycling.
Individuals can reduce their waste by repairing, reusing, and recycling products, and choosing products with minimal packaging and long lifespans.
Check out the Actions below for things you can do, or read more about Build a Circular Economy
Further resources about the circular economy:
Posted in: Education