C T Online Desk: Wachia Kawnine : The traditional economic model is based on a linear system of “take, make, dispose.” This means that we extract resources from the Earth, make products from those resources, and then dispose of those products when we are done with them. This system has led to a number of environmental problems, including pollution, climate change, and resource depletion.
In contrast, a circular economy is an economic system that aims to eliminate waste and pollution by keeping products and materials in use for as long as possible. This is done by designing products and services that are durable, can be repaired or reused, and can be easily recycled.
There are a number of benefits to a circular economy. It can help to reduce pollution, conserve resources, and create jobs. For example, a study by the Ellen MacArthur Foundation found that a circular economy could create 600,000 new jobs in the UK by 2030.
Circular economy is also a more sustainable way of doing business. By reducing waste and pollution, circular economy businesses can help to protect the environment for future generations.
There are a number of ways that entrepreneurs can create businesses that are based on the principles of circular economy. Here are a few examples:
- A company that collects and recycles food waste: This business can reduce food waste, which is a major environmental problem. It can also create jobs and help to improve food security.
Food waste recycling company
- A company that designs and manufactures clothing that is made from recycled materials: This business can reduce the need for virgin materials, which is a major source of pollution. It can also create jobs and help to promote sustainable fashion.
Clothing made from recycled materials
- A company that provides a service for repairing and maintaining appliances: This business can extend the lifespan of appliances, which can reduce waste and save energy. It can also create jobs and help to reduce poverty.
Appliance repair and maintenance company
These are just a few examples of how entrepreneurs can create businesses that are profitable, sustainable, and socially responsible by considering the principles of circular economy. By following these principles, entrepreneurs can create businesses that have a positive impact on the environment and society.
The future of business is circular. As the world becomes more aware of the environmental and social challenges of the linear economy, there will be an increasing demand for businesses that are based on the principles of circular economy. Entrepreneurs who are able to adopt these principles will be well-positioned to succeed in the years to come.
Real-time examples of circular economy businesses:
- The Renewal Workshop: This company refurbishes and resells office furniture. They have saved over 1 million pounds of furniture from going to landfills.
Renewal Workshop company
- ThredUP: This company is an online marketplace for secondhand clothing. They have diverted over 50 million pounds of clothing from landfills.
- Loop: This company is a subscription service that delivers products in reusable packaging. They have eliminated over 1 billion single-use plastic containers.
Loop company
These are just a few examples of the many circular economy businesses that are already operating today. As the world moves towards a more circular economy, we can expect to see even more of these businesses emerge.
Wachia Kawnine
Senior Teacher (English)
Cantonment English School & College
Chattogram Cantonment
+8801816801037
