MENTORS
  • News
  • Business
  • Self Growth
  • Mentors Collective Podcast
    • Apply As Guest
    • Listen on Spotify
    • Listen on Apple
No Result
View All Result
  • Login
  • Register
MENTORS
  • News
  • Business
  • Self Growth
  • Mentors Collective Podcast
    • Apply As Guest
    • Listen on Spotify
    • Listen on Apple
No Result
View All Result
MENTORS
No Result
View All Result

What A Circular Economy Isand How It Works

Dawn Wells by Dawn Wells
July 29, 2022
in Economy
What A Circular Economy Isand How It Works
Share on FacebookShare on TwitterShare on LinkedIn

‘Circular economy’refers to a system-focused economy that includes industrial processes and economic activities that are restorative or regenerative, allowing resources used in certain programs and operations to retain their highest value, and aiming to reduce waste through the superior design of materials, products, and systems. Economic activity in a circular economy builds and rebuilds overall system health. The notion acknowledges the necessity for the economy to function efficiently at all sizes — for large and small firms, organizations, and individuals, worldwide and locally.

It minimizes the use of non-renewable resources while preserving or enhancing renewable ones, such as by returning essential nutrients to the soil to aid regeneration or by relying on renewable energy, redesigning things to be less resource-intensive, and repurposing‘waste’ to create new materials and products.

Three Main Principles of Circular Economy

It is based on three basic principles:

  1. Waste and pollution should be avoided at all costs
  2. Maintain the utilization of items and materials
  3. Restore natural ecosystems

It is an easy and reliable method of economic development that benefits businesses, society, and the environment as a whole. In contrast to the linear model of “take-make-waste,” a circular economy is designed to detach growth gradually from the use of finite resources. It is mainly characterized by marketplaces that encouragepeople to reuse things rather than discarding them and extracting new resources. All types of garbage, such as clothing, scrap metal, and obsolete technology, are returned to the economy or utilized more efficiently in such a system. This can help not only to conserve the environment, but also to better manage natural resources, establish new industries, create jobs, and develop new capabilities.

The Benefits of a Circular Economy — Fulfilling Climate Goals

Moving to a more circular economy could have several advantages including lessening environmental impact, enhancing raw material supply security, improvingcompetitiveness, spurring innovation, creating more jobs, and increasing economic growth by almost0.5%.

When a material reaches the end of its useful life, its components are reused as much as possible. This means that the material continues to add value to the system, continuing to save the planet. On the other hand, the negative effects of economic activities that harm human health and natural systems are designed out in a circular economy. This includes the emission of greenhouse gases and dangerous substances, air, land, and water pollution, as well as structural waste like traffic congestion.

To raise more awareness regarding the importance of the circular economy, Dauro Lohnhoff Dorea founded the American Institute of Circular Economy. He is working to achieve the widespread acceptance of this model, presenting it as the most viable solution to the planet’s resource scarcity. He aims to demonstrate not only how necessary it is but also how beneficial it would be for all types of firms, organizations, and individuals.

Dawn Wells

Dawn Wells

I am Dawn Wells, a mom and a full time blogger. I am contributor of many well known publications including Disruptmagazine, Thrive Global etc.

Related Posts

edit post
daxsen bank wallet
Economy

Daxsen Bank: Why Digital Banking is Your Best Option Navigating an Economic Downturn

businesses are looking for ways to protect their finances and prepare for a potential recession. One option that is...

by David Daxsen
January 20, 2023
251
edit post
Should you be self-employed? Today’s gig economy says yes!
Economy

Should you be self-employed? Today’s gig economy says yes!

Over the past 10 years, we have seen the emergence of a whole segment of work we now call...

by Mentors Collective Staff
October 29, 2022
256
edit post
Decentralization
Economy

Is Decentralization Eating the World?

Decentralization has many advantages. But the most crucial advantage of decentralization is that it gives power back to the...

by Mentors Collective Staff
August 24, 2022
255
edit post
Distribution Industry Condemns Tax Increase on American Families and Businesses
Economy

Distribution Industry Condemns Tax Increase on American Families and Businesses

All members of the U.S. Senate opposing H.R. 5376, The Inflation Reduction Act, and urging legislators to vote against the...

by Mentors Collective Staff
August 6, 2022
252
Next Post
edit post
calculator and statistics

Research Reveals Major Fixed Income Concerns

Popular posts

  • I.O.I: Where Are They Now?
  • What Mahatma Gandhi Can Teach Qantas and Other Businesses about Customer Service
  • Navigating Recessionary Headwinds by Driving Efficiency in the Back Office
  • Understanding the Fundamentals of Real Estate Investing: Insights from Sam Primm
  • Quixotic Design Co.: Driving Women-Owned Businesses to the Top of Their Industries

Popular Tags

American Benefits brand Business business tips career coach covid-19 digital marketing economy employee Entrepreneur entrepreneurship featured finance Health inflation influencer investment Investor job leadership marketing Medical School mentor mentorship money News pandemic personal development plan recession Residency retirement small business social media sponsored startup strategy success tax technology tips work workplace
ADVERTISEMENT
  • About
  • Free Mentorship
  • Show Your Support
  • Become a Contributor
  • Apply As Guest
  • Listen on Apple
  • Listen on Spotify
Mentors Collective Success Magazine

Owned by Otter Love LLC

No Result
View All Result
  • News
  • Business
  • Self Growth
  • Mentors Collective Podcast
    • Apply As Guest
    • Listen on Spotify
    • Listen on Apple

Owned by Otter Love LLC

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version