Journeying towards a Circular Economy
7 quick insights from a holistic examination of what circularity means to cities, organisations, communities, and individuals.
What is a Circular Economy and what does it mean for me?
These were some of the topics that I had wanted to explore further when I signed up for the THINC30 Tank: Creating Circular Economy Communities virtual event hosted by Covestro. The session brought together experts across different organisations who examined circularity in a holistic manner, shedding light on the roles different stakeholders have to play.
It was inspiring to listen to people who are passionate about our collective journey towards circular systems. My takeaways from the session can be broken down into 3 themes:
- What a Circular Economy is
- What it means to cities, organisations, communities, and individuals
- How we can get there
The following insights were informed by the perspectives and expertise of, among others, Andrew McCue from Metabolic, Dr. Melissa Bilec from Mascaro Center for Sustainable Innovation, Mike Gable from Construction Junction, Lauren Phipps from GreenBiz Group, Lynette Chung from Covestro, Miranda Wang from Novoloop, and Noah Deich from Carbon180.
A Circular Economy is often misunderstood as a zero waste economy or a recycling one.
It is not just about creating zero waste. It is about reimagining how whole systems work, such that we are getting the maximum value out of each and every resource or material that we use.
Cities cannot afford to solely think about creating a Circular Economy from a waste management perspective. We need to adopt an integrated approach:
- Materials — are they cycled at continuously high value in our economy?
- Energy — does it come from renewable resources?
- Water — is it extracted and used sustainably?
- Biodiversity — is it baked into our systems?
- Humanity — is human society, culture, health, and well-being preserved and supported?
- Holistic Value — do human activities generate value beyond financial measures?
Creating a Circular Economy is a large-scale endeavour that can only be achieved through collaborations between government bodies, organisations, communities, and individuals across geographical and political boundaries.
Conversations around changing economic systems to address issues like climate policy and incentives require all voices to brought to the table. It is especially important to connect with those who have often been missing — i.e. local community groups, environmental advocacy groups at the grassroots level, innovators, and entrepreneurs.
Plastics, especially agricultural ones, remain an important part of our society. When we talk about creating a Circular Economy, it is important that we look to innovation to circularise the use of plastics and sustainably feed such waste commodities back into our economy.
More businesses need to recognise the financial and environmental opportunity to step up, tackle issues like climate change, join the conversation around circularity, and lead as brands of the future.
Sustainability goals only work when they operate within systems. A theoretically recyclable bottle is only circular and better for the world if it can actually be recycled and if there is infrastructure in place for that to happen.
Such goals are only just the beginning. We need to define accountability mechanisms that ensure organisations actually follow through with what they say they are going to do.
Change comes from educating and empowering people. We need to train more people in systems thinking and develop more robust tools to enable and measure circularity. This creates more effective leaders and advocates in key industries.
We should also not overlook the power we have as consumers to demand the types and sources of products and services that markets serve us with. Support those that are circular and let others know that they are out there.
Make the benefits of circularity real and tangible across multiple stakeholder groups, especially when politics get in the way of action.
No one is going to argue against issues like the cleaning up of carbon pollution if they mean creating new and better good jobs, making our industries more robust, or developing investment opportunities, etc.
Do let me know if the takeaways resonate with you in any way! My personal journey in learning more about circularity has only just begun, and I would be most keen to hear about your own recommendations of resources and avenues that continue this conversation.
