CIRCULAR ECONOMY
Published in
3 min readFeb 13, 2021
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𝗖𝗶𝗿𝗰𝘂𝗹𝗮𝗿 𝗘𝗰𝗼𝗻𝗼𝗺𝘆 𝗮𝗻𝗱 THE INDUSTRY FOUR
𝗖𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝗼𝗻𝘀 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 THE INDUSTRY FOUR, 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗠𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴, 𝗮𝗻𝗱 𝗖𝗶𝗿𝗰𝘂𝗹𝗮𝗿 𝗘𝗰𝗼𝗻𝗼𝗺𝘆.
■ As a standard process, manufacturing takes raw materials from the environment & nature and turns them into new products, which are then disposed of after utilization, at the last stage of a typical product life cycle.
■ In this system of linear processes, raw materials might sooner or later run out while waste is being accumulated.
■ There is a rising requirement for material, water, energy, and other natural resources, because of both population growth & increased demand by infrastructure, industry, and consumers in developing countries.
■ Circular economy activities have the potential to address a significant share of this need — dampening or, possibly, reversing the rise in resource use by developing countries & in turn reducing resource depletion, climate change, and the pollution of natural areas.
■ The circular economy is gaining increasing attention worldwide to reduce dependency on primary materials and energy, while at the same time becoming an economically viable alternative to the linear economy.
■ In a circular economy, products are designed for durability, reuse & recyclability, and materials for new products come from old products.
■ As much as possible, everything is reused, remanufactured, recycled back into raw material, used as a source of energy, or as a last resort, disposed of.
■ Consequently, this would lead to the emergence of more sustainable production and consumption patterns and could thus provide opportunities for developed and developing countries to achieve economic growth and inclusive and sustainable industrial development (ISID) in line with the 2030 Agenda for Sustainable Development.
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𝗖𝗶𝗿𝗰𝘂𝗹𝗮𝗿 𝗘𝗰𝗼𝗻𝗼𝗺𝘆 𝗮𝗻𝗱 THE INDUSTRY FOUR
■ THE INDUSTRY FOUR is Changing the World.
■ The transition towards a circular economy requires systematic innovations including new innovative financing models, partnerships, business models, and close integration of industry 4.0 principles.
■ Industry 4.0 bears enormous opportunities to enable a circular economy in which end-of-life products are reused, remanufactured, and recycled.
■ Industry 4.0 is a paradigm shift from centralized to decentralized smart manufacturing and production and refers to the computerization of manufacturing.
■ Increasingly, companies are applying innovative solutions, including through the Internet of Things (IoT), cloud computing, miniaturization & 3D printing that will enable more interoperability and flexible industrial processes and autonomous & intelligent manufacturing.
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Academy ti4 | www.ti4.org
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