Circular Economy

Circular Economy

A circular economy is an alternative to a traditional linear economy (make, use, dispose) in which we keep resources in use for as long as possible, extract the maximum value from them whilst in use, then recover and regenerate products and materials at the end of each service life.
There has been considerable concern in Australia in recent years about recycling efforts, and what happens to our products once they are recycled. This was brought into focus by China's decision to ban the import of foreign waste from January 2018
Australia exports recyclable material to over 100 countries. The three main categories of which are metals, paper and cardboard, and plastics. In 2016–17 Australia exported some 4.23 mega tonnes of recycled materials, a considerable amount of which went to China. Therefore, the decision made by China to ban the import of foreign waste has a direct impact on recycling and waste management practices in Australia.
So where do we go from here?
Towards a circular economy.
The objective of a circular economy is to maximise value at each point in a product's life. A circular economy seeks to close industrial loops and to turn outputs from one manufacturer into inputs for another and, in doing so, reduce the consumption of virgin materials and the generation of waste.
Some of the essential elements necessary for a circular economy are to:
• design and manufacture products that are made from recycled materials (rather than virgin resources), that can be repaired and/or recycled back into the system;
• establish repair centres as part of this design and manufacture process, so that items can be repaired;
• establish collection systems so that items unable to be repaired are collected, rather than disposed of in landfill;
• ensure that there is adequate and appropriate recycling facility infrastructure in place, taking into account location and sorting capacity; and
• encourage manufacturers to purchase recycled materials, thereby closing the production loop.
There are two primary business models under the circular economy - those that foster reuse and extend the life of a product through repair, remanufacture, upgrades and retrofits, and those that turn old goods at the end of their service life into as-new resources by recycling the materials they contain.