edie launches updated business guide on the circular economy

Why is adopting a circular economy so important? What does a circular economy look like in practice? How does the circular economy apply to business? Which organisations are most suited to going circular? What are the business benefits of going circular? This new explains guide answers all these questions and more.

——CLICK HERE TO DOWNLOAD THE CIRCULAR ECONOMY GUIDE—–

There is no doubting that the global transition away from linear “take-make-waste” business models would maximise benefits for people and planet. But the reality is that this transition is proving fiendishly difficult, with reports revealing that the economy is in fact getting less “circular”.

According to the most recent Circularity Gap report, just 7.2% of the raw materials used by humanity each year are kept in circulation. The fact that the vast majority of these materials go to waste, the report outlines, is fuelling nature loss and the climate crisis – megatrends which disproportionately impact the poorest nations.

This new guide outlines the key business considerations for embracing the circular economy and cutting down on waste.

A circular economy is a regenerative system that looks to optimise the resources we use and keep them in productive loops for as long as possible. These resources include raw materials, products, energy and water.

However, in the current linear economy – where we’ve taken and discarded more than ever before – a lot needs to happen for society to transition to a closed-loop economy that champions reuse, recycling and longevity of products and services.

The private sector will be one of the key drivers to a circular economy, but the transition is no easy task. This new Explains guide, developed with support from Reconomy, offers a deep dive into the key considerations, challenges and opportunities that businesses face on the road to becoming more circular.