Recently, circular economy has become a worldwide trend. The trend revolves around many aspects in life, including lifestyles and even business. Although its popularity is indubitable, what do you actually know about circular economy?
Circular economy, also known as circularity, is a concept of using raw materials, components, and products for a longer period. Driven by scarcity of resources, its aim is to improve the productivity of resources.
In other words, all waste of any kind should be ‘food’ for another production. Thus, this is contrasting to linear production model in which we simply dump the stuffs after use. By doing this way, the residents of the Earth will slowly reduce their pressure on the planet in terms of gradually stopping unnecessary resources exploitation.
The implementation of the concept varies, starting from a country’s and company’s movement up to people’s habit and lifestyle. In so doing, sometimes people consciously or unconsciously implement circularity.
For example, using canvas bag or tote bag instead of supermarkets’ plastic bags is one of its simplest executions. Another example is reusing plastic bottles to craft vase or another decoration.
With this in mind, circularity does not solely become a trend in individuals’ lives. Accordingly, companies and countries are starting to do the same thing.
Also Read: What?! Now You Can Eat Cutlery?!
Circular Economy in Action
During the World Economic Forum 2018, 50 governments and business leaders throughout the world collaborated to launch a platform for accelerating the circular economy (PACE). Notable members include Coca-Cola, Ikea, Unilever, Philips, Alphabet Inc and Hewlett-Packard.
Kentucky-based circular economy start-up, Truman, produces non-toxic, direct-to-consumer cleaning products. Accordingly, the company just recently acquired funding from Henkel, the investment arm of the German consumer products conglomerate.
Fab City, a circular economy project and movement initiated by Barcelona-based Fab Lab, is challenging cities around the globe to produce everything they consume by 2054. Fab City encourages every community in cities throughout the world to conduct circularity projects in their own surroundings.
In Vietnam, although the concept of circularity is rather novel, it is starting to grow. Despite all the challenges and calculation that have to be conducted, companies in the country is planning to shift to circular economy or circular production from linear production.
