A Circular Economy

A sensible but different approach to sustainable business development — a circular economy!

The free SRBEC business waste stream program for local companies is now in full operation — details below.

Importantly, this waste program is a stepping stone to businesses becoming sustainable, which research suggests approximately 80% of customers are now asking of the businesses they buy things from. Most businesses also are now hopping on this bandwagon as they see such a change in consumer demand being crucial for their business future.

Even more significant for businesses in the short-term future is the work at Government and industry organisation level across Australia looking to introduce policies and practices around the idea of a ‘circular economy’. What is a circular economy and why is this relevant to your business?

Here is a diagram which shows what is meant by this term

Most advanced in Europe, the circular economy helps businesses and consumers make the transition to where resources are used in a more sustainable way. It is about “closing the loop” of product lifecycles through greater recycling and re-use, with benefits to the environment and the economy.

When in place a circular economy covers the full lifecycle of products: from production and consumption to waste management and the market for secondary raw materials.

The NSW EPA is soon to release a Draft paper discussing the idea in detail and seeking comment. Businesses need to be aware of, and planning for, the advent of this policy change.