You’ve heard the phrase, Reduce, Reuse, Recycle, but did you know that it applies to the entire economy? It’s called a Circular Economy. According to the United Nations Development Program, our current economic system is linear. We extract raw materials from the earth, manufacture products and then discard them as waste. A circular economy minimizes waste and promotes the sustainable use of resources through smarter product design, longer use, recycling and regenerating nature.
A circular economy is essential for fighting climate change. The good news is companies across many different sectors – fashion, construction, technology, even finance – have bought in. One example is the Adidas “three loop” strategy. The first loop involves recycling plastic waste, the second involves designing shoes that can be remade and the third loop focuses on regeneration, where Adidas aims to use biodegradable materials that will disintegrate naturally into their surroundings. Other companies embracing a circular economy to meet consumer demand include IKEA, Unilever, H&M and Accenture.
We can be part of the circular economy, too, by supporting companies dedicated to sustainability and within our households by extending the life of things we use (think San Diego Fixit Clinic). Reduce, Reuse, Recycle!
Posted by Donna Gerhauser