Good morning, everyone.
Today our team is going to give
some idea about what a circular economy is and why it is
getting such attention in today's world.
Firstly, let me tell you that what does word economy
means
Economy is a Broder term but basically it is the process
or system by which goods and services are produced,
sold, and bought in a country or region.
Talking about the current scenario everything that we
can see in our surrounding whether they are mass
producing industries which are flooding the market with
their products and innovation.
But can anyone answer me at what cost are we getting
all this? let me tell as cost of our environment.
Let me explain it a bit
All these mncs and industries follow linear economy.
Let me give you a brief you a brief about linear economy
The term linear refers to the straight progression that a
product can follow, with a beginning, a middle and an
end, it is a system in which people buy a product, use it,
and then throw it away.
As a result of this we are generating 1.92 million tons of
fashion waste ,50 million tons of e waste and 350 million
tons of plastic waste every year and these numbers are
consistently increasing, which is a bigger concern for us.
As a solution to this problem Circular Economy comes
into the picture.
Circular economy
A circular economy is an economic system aimed at
eliminating waste and the continual use of resources.
Unlike the traditional linear economy, which follows a
"take, make, dispose" model, the circular economy
focuses on keeping resources in use for as long as
possible.
MAKE USE RETURN
Let me give you an example of a London-based company
which leases its light from Philip Lighting instead of
buying bulb for their offices.
It signed a 15 year lease for the service and paya a fee
each quarter.
In this case Philips still own the actual lightbulb and
provides maintenances and replacement when
needed ,no extra cost .
This is a radically different business model that makes
companies more like service providers than seller of
physical product .
Take H and M, one of the world’s largest clothing
retailers, are working on a strategy to become 100 %
circular The company collect old garments in its store and
recycles them and reuse these fabrics to make new ones.
Minimizing the waste production.
Merits of circular economy
As we all know, on earth we have finite resources which
will get over if we will not use them judiciously. but
implementation of circular economy can bring down the
wastage of resources.
) Reduce emissions.
About 45% of global greenhouse gas emissions come
from product use and manufacturing, as well as food
production. Circular economy strategies that reduce our
use of resources can cut global greenhouse gas emissions
by 39% (22.8 billion tons) and play a crucial role in
averting the dangerous impacts of climate change.
Protect human health and biodiversity.
Every year, more than 9 million deaths occur due to air,
water and soil pollution. This pollution also threatens
biodiversity.
Working towards a circular economy helps protect human
health and biodiversity in many ways, including by
making better use of natural resources (e.g. protecting
water and land), and by mitigating the climate crisis. One
of the clearest and most direct impacts of the shift to a
circular economy will come from how we deal with
products at the end of their life.
The world produces around 300 million tons of plastic
waste every year, nearly equivalent to the weight of the
entire human population. This is on top of 54 million tons
of electronic waste (e-waste), of which just 17.4% gets
collected and recycled
Designing products to be kept in use for longer reduces
the amount of waste produced. Creating proper collection
and processing systems protects workers and the
environment from hazardous materials. For instance,
utilizing existing solutions like replacing plastic other
materials, designing plastics so that they can be more
easily recycled, and scaling up collection and recycling
could reduce the flow of plastic waste into the ocean by
80% in 20 years – a shift that would be enormously
beneficial for human health and biodiversity
And many more
We need to built such an environment and technology
which research on the product or ways which could helps
us to recycle this and reduces waste for example
There is an French architect who was working on the
problem of fashion waste like old garments to he came up
with an idea of Fabricks
Bricks with are made up of fabrics .
We need more collaboration with other industries who
also take initiative for a better environment.
Lastly, we all know that changing a economic pattern is
not easy, so we also need government support.
Now conclusion and then
Thank you
