Every day in the world has been progressing in terms of technology and general stuff. In such a changing environment, for a sustainable society to survive or thrive well, circular economy is what is required. Circular economy is the best way to extend the service life of goods, common components and materials with the help of reusing and re marketing. It has always been in there and helped corporations a lot. Since the early days, the repair and serial remanufacturing of combustion engines and automotive components of machine tools and jet turbines have existed but people strayed from it and moved to a completely capitalistic society as the time passed by. The circular economy’s intention was to produce no waste or pollution.
The main of maintaining the circular economy was to reuse products, parts, and materials etc. The focus of circular economy is from thinking traditionally to a linear system. The most important focus is to understand how waste can be used elsewhere which is inevitable to avoid. Waste is a resource that can be used well if considered seriously. Every individual of the society should realize that circular economy is the only way to thrive in the upcoming world that is full of technological revolution and waste materials, factory wastes etc.
Preventing material leakage
Eliminating the material leakage from the production cycle is the first and foremost step of circular economy. Reduced material leakage used in laptops, smartphones etc. then translates into cost savings and increased efficiency that can be good for a company for the environment on a whole. anything that a company can control within the walls of its facility is relatively easy to control as compared to something that is out there in the open environment. Most of the corporations let their waste go in the environment or in etc. which is a major population issue. This should be addressed as soon as possible so that one can take the necessary and first step towards the circular economy hence making the environment cleaner and better. If various big companies will start doing this this will reduce environmental pollution a great deal.
Creating a closed-loop system
This is a very useful approach to promote a circular economy. Considering ending the life of a product is very useful when it reaches the end of its useful life. It can either be turned into something new or it can be recycled into something else. Discarded electronics is a major source of pollution for landfills and overall, for the environment. As it is difficult to recycle them, it is important that you turn the electronics into something else by creating a closed loop system. Also it is really difficult to recycle e-waste so not many people or companies strive to do it wholeheartedly. However, many recyclers are moving towards this great initiative and trying to keep the environment pollution free.The company IBM’s end of life management operation processed almost 32,000 metric tons of consumer products that consisted of E-junk, all whose life was ended.
Out of All these collected tons of electronic waste IBM:
- recycled almost 54.9%
- refurbished and resold 34.9%
- reused 6.8%
- sent 2.9% to waste to energy
This means that only 0.5% of IBM’s E waste was sent to landfills which was a great achievement unto itself. When we look at it from a lifecycle perspective, we will come to know that using recycled products reduces the need of raw materials required to create a new product. This keeps the circular economy floating well and it also reduces the impact of the initial product at the end-life.
Companies are heading to make the circular economy better every day.They have not only reduced the amount of waste sent to landfills but have also reduced their cost of the process. Such collective efforts as a society will help us keep the circular economy going well and the environment will also stay clean and protected.