Embracing the circular economy as a catalyst for change

In 2019, the Ellan-McArthur Foundation made a bold proclamation: the circular economy had the potential to generate over $1 trillion in annual savings globally by 2025. While this staggering figure alone demands attention, what truly excites me about the work being undertaken by Engineers Australia , including as part of the Commonwealth Circular Economy Ministerial Advisory Group (CEMAG) is the profound impact it can have on our natural environment.

By embracing the principles of the circular economy, we can minimise waste and pollution through intentional design, extend the utilisation of products and materials, and revitalise natural systems rather than causing harm. This transformative approach becomes a formidable ally in our pursuit of global climate targets and a sustainable future for all.

Engineers Australia, in collaboration with Circular Australia and the City of Melbourne , has been entrusted with the critical task of providing detailed information on the topic of 'Circular Economy: Built Environment and Carbon Emissions.'

To inform this work we co-hosted a circular economy industry roundtable in May with Lisa McLean , CEO of Circular Australia, and Dr Dominique Hes , Carbon Zero Buildings Lead at the City of Melbourne.

The event united industry, government and academic stakeholders to navigate Australia's transition towards circularity and yielded several key themes, which will be presented in detail at the upcoming Ministerial Advisory Group meeting in August.

Among the unanimous consensus of leaders at this roundtable, was the recognition of the need for increased regulation to drive the widespread adoption of circular practices.

Enhancing the availability of recycled materials also emerged as a pressing challenge. While some state governments have mandated a minimum recycled content percentage for new projects, procurement teams often struggle to find suitable recycled materials or encounter high costs in reclassifying available waste for reuse. Addressing this issue demands the reclassification of waste products as valuable secondary materials, making their uptake easier and more cost-effective.

The roundtable also unveiled the promise of industrial symbiosis and industrial ecology as solutions to transform our industrial ecosystem. By strategically co-locating businesses, we can harness their collective waste streams, utilising generated heat, energy, and materials as inputs for various manufacturing processes. This fosters efficiency and sustainability, forging a path towards a circular future.

That future not only benefits the environment but also overall business efficiencies with substantial upfront and ongoing cost savings.

As Australia stands as both a low producer and a significant consumer, urgent action is required to redefine design principles, secondary markets, and procurement practices. The pressing need for decarbonisation necessitates a holistic evaluation of material flows, inputs, and outputs across the economy.

These roundtable discussions pave the way for the Engineers Australia Climate Smart Engineering 2023 (#CSE23 ) conference, scheduled to take place in November at the Melbourne Convention and Exhibition Centre . Climate leaders, professionals, policy makers and industry will come together to explore innovative strategies, foster collaborations, and propose solutions for achieving a circular economy while reducing carbon emissions.

As the momentum for circularity builds, let us embrace it as a catalyst for vital change, knowing that by doing so, we are investing in change that will build a more resilient world for generations to come.