THE CIRCULAR ECONOMY IS COMING. ARE YOU READY?
IN MAY THE SUSTAINABLE BUSINESS NETWORK, IN PARTNERSHIP WITH AUCKLAND TOURISM, EVENTS AND ECONOMIC DEVELOPMENT (ATEED), RELEASED NEW ZEALAND'S FIRST ECONOMIC REPORT ON THE CIRCULAR ECONOMY. IT SHOWED THAT AUCKLAND COULD BE $8.8 BILLION BETTER OFF IN 2030
Andy Kenworthy explains the Circular Economy. Exactly how does it work? What is needed to make it a reality? And, as a business owner, what’s your part in it?
The world we are living in mostly operates on what is called the linear economy. The line starts when we extract raw materials from our planet. It ends when we discard or destroy our rubbish somewhere. Employed at the scale it now is, on the materials we now have, this creates a few problems. We will eventually run out of the raw materials we can easily get out of the ground, and our rubbish ends up all over the place.
One of the best examples is plastic. The raw material is crude oil. This is increasingly expensive for us to get out of the ground, especially as we account for the environmental damage of doing so. At the same time, we have ended up with plastic literally everywhere.
The circular economy is coming.