How circular economy can help your business

Circular Economy and the European Green New Deal

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Part of the European Union’s new blueprint for combating climate change – the well-known Green New Deal – includes a shift to circular economy by 2050, stricter recycling rules and binding targets for the use and consumption of resources by 2030. To put the project into perspective, consider that the EU alone produces more than two and a half billion tonnes of waste every year, i.e. materials with a greater or lesser impact on the environment and more or less biodegradable, which end their life cycle never to be used again. A circular economy model aims to prevent this from happening by recovering as much as possible from the processing waste of all industries and also from consumption, to reuse what is already available in new processes or in the creation of new materials and products, rather than extracting new raw materials. The benefits lie not only in the lower consumption of raw materials – which are often limited – but also in the reduction of CO2 emissions that their extraction and processing would entail. It follows that circular economy processes, in order to be useful and beneficial, must also be designed to produce as few environmentally harmful emissions as possible. The reuse and repair of products is also part of circular economy, replacing the model of planned obsolescence that drives the purchase of new goods.

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What are the benefits for companies?

The environmental sustainability of this model is accompanied by greater economic sustainability for companies. Firstly, for all companies that depend on the use of raw materials to manufacture their products, the transition to circular economy means no longer having to depend on the fluctuating availability of said materials, thus ensuring greater security and consistency of production over time. In addition, this model encourages competitiveness and innovation and has been shown to foster economic growth, contributing to increased GDP and employment. It also benefits consumers, who get better, more durable products, save money over time and improve their quality of life.

The importance of renewable energy

One of the key elements in creating a truly effective circular economy system that brings concrete benefits to the countries that implement it is the use of renewable energy. Even in the processes of recycling and reusing waste materials – such as the reuse of food processing by-products to produce biogas – large amounts of energy are used. If this energy does not come from clean and renewable sources, such as wind and solar power, but from the use of fossil fuels, the whole effect of the circular system on the environment is undermined, as excessive new emissions are generated that cancel out the previous CO2 reduction. It is therefore essential that circular economy implementation programmes go hand in hand with the expansion of sustainable energy networks.

If you are interested in finding out more about circular economy and sustainability, we recommend you attend the next edition of GECO EXPO, the virtual sustainability exhibition. Access is free for visitors and buyers!

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