Why we need to think circular - What is the Circular Economy?
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Our vision is that of a truly sustainable healthcare sector, with strong, long term local networks.
The circular economy is based on 3 principles (definition from Ellen Macarthur foundation):
The current system we are using is more of a straight-line economy:
Raw materials –> production of goods –> use of goods –> waste (Weetman, 2016)
In a straight-line economy, the earth's natural resources are used to produce a product which is then consumed (once or several times). Once the product is consumed it can then be disposed of, and another product takes its place.
This type of economy promotes cheaper goods and faster production at the expense of our natural world. In a straight-line economy, companies are not focused on the effect their products have at the end of their useful life. The main goal is to make a profit (Burton, 2007) through reducing costs or increasing prices. The drive for profits leads companies to focus on obtaining materials at the cheapest possible cost, which often comes at the expense of Planet Earth. This unseen cost (from an accounting point of view) comes to light when we look at the amount of waste we find at a landfill site, in the oceans and on our streets. In 2018 approximately 146.1 million tonnes of waste were landfilled (USEPA, 2021) It isn’t till we consider the environmental costs that we can truly see the overall cost.?
In recent years we have adapted the straight-line economy to add a recycling element to it...
Read the rest of our blog on our website for free: Why we need to think circular - What is the Circular Economy? - NuGreen (nu-green.co.uk)