7 circular economy opportunities for the chemicals and refining sector
thinkstep-anz
We enable companies to succeed sustainably. We are a certified B Corp with an approved Science Based Target.
We partnered with Aurecon and the Sustainable Business Network Business Network to deliver the report for New Zealand’s Ministry of Business, Innovation and Employment (MBIE). The report highlights how the manufacturing sector can benefit from circular economy approaches.
This is a series of seven posts we’re showcasing the opportunities for seven subsectors of New Zealand’s manufacturing industry.
1. Expanding domestic production
Increase domestic production to reduce reliance on imports, decrease global emissions through reduced transport, create local jobs, and improve supply chain resilience. This can particularly impact the fertiliser industry, which heavily relies on imports of raw materials like phosphorus.
2. Improving recycling at source
Develop and implement better recycling processes at the source to manage chemical waste more effectively and reduce environmental impact.
3. Business models for reusing chemical products
Explore and promote business models that focus on reusing chemical products, such as chemical leasing, where customers rent and return chemicals for recycling after use.
4. Bio-based chemicals
Invest in the research and development of bio-based chemicals as sustainable alternatives to traditional petrochemical-based products. This can help reduce the sector's carbon footprint and reliance on fossil fuels.
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5. Circular economy initiatives
Implement circular economy practices, such as using waste streams from one process as inputs for another, to reduce overall waste and emissions – industrial symbiosis.
6. Enhancing data collection and analysis
Improve data collection and analysis to gain better insights into emissions, waste streams, and the environmental impacts of different chemical processes. This can help make more informed decisions and track progress towards sustainability goals.
7. Investing in research and development
Increase investment in R&D to innovate and improve processes, materials, and technologies that can reduce the environmental impact and enhance the sustainability of the chemicals and refining sector.
Read the report written by thinkstep-anz in partnership with Aurecon and the Sustainable Business Network.
Download the summary report here: https://lnkd.in/gpz5fkMa