Circular Economy
The term circular economy is not new, and there is some debate as to who came up with the original concept. As with many ideas of its kind, the concept likely evolved concurrently as different factions strove to develop a more sustainable economic model. Definition of Circular Economy In their 1976 report for the European Commission, Walter…
Definition of Circular Economy
The three principles of a circular economy, or CE, are:
- eliminating waste and pollution
- circulating products and materials
- the regeneration of nature
There are some potential disadvantages to the CE model. However, these are not so much disadvantages as setbacks that can be addressed.
Applying the Circular Economy Model
Take the three main principles of CE,
- eliminating waste and pollution
- circulating products and materials
- the regeneration of nature
- business premises and services
- product or services offered
- workforce requirements
- customer requirements
- supply chain
As always, involve your workforce in this process. And communicate your intent to your customers and supply chain. You can be a leading example and even foster change within your sector and the companion industries that interact with yours.
It is vital to note that this kind of business transition is self-serving. Ultimately, only sustainable businesses will survive. Don’t see this as an encumbrance. It is an opportunity. Take the time to make the process work for you.
Getting Support for Your Business Transition
Find out more here.Circular Tayside lists a wide variety of training resources on the circular economy, many of which are free and held online. You can see a complete listing here.
EdApp, a free microlearning-based learning management system, offers a free course entitled Sustainability and the Circular Economy, which defines the principles of sustainability and why it’s essential. You can access it and deploy it to your team or workforce here.
ReLondon is a support mechanism for SMEs to create sustainable value beyond profit. They offer advice, grants and networking opportunities. You can find out more here.