How Embracing Circularity Can Help Your Business Earn a Profit
IKEA was one of the most recent businesses to reveal a plan to become a fully circular business by the year 2030. The goal of circularity is to only use salvageable or renewable materials across the entire line of available products. Coca-Cola has also taken steps to join the circular economy by confirming that Sweden would be the first market where 100% of recyclable materials will be used for bottle manufacturing.
The circular economy is one where recycling and reuse are focused on, rather than the use of raw materials and other extractive methods of working. Are you ready to learn more about the circular economy and if it is something that your business may benefit from? If so, keep reading.
The Goal of Business Circularity
While an array of big and smaller name companies are moving toward the circular economy, others have embraced this for a while. This has helped to solidify their status as an eco-friendly company, and what other businesses are discovering is that this move can be beneficial and drive economic growth.
According to information from the United Nations, the population of the world will reach 9.7 billion by the year 2050. This increase in population is going to put serious stress on the natural resources around the world. The eco-benefits offered by a fully circular economy are much clearer – much less waste is going into landfills around the world, and less water is used, which results in fewer greenhouse emissions.
Slash Production and Consumption to Help Improve Business
One business that has already seen the many monetary benefits offered by embracing the circular economy is Schneider Electric. Along with using recyclable materials and recycled content in the products, this company has begun offering a larger range of services to help customers extend the longevity of their already aging items. Some of the options offered include take-back schemes to help ensure old and discarded items do not wind up in landfills, pay-per-use options, and leasing.
Recycle, Repair, and Reuse
Unlike water, some materials are more difficult to repurpose or reuse. This is when working with professional services helping to grow the circular economy can be beneficial.
For example, many modern recycling companies offer circular economy solutions for companies and businesses, which includes a zero-waste packaging system. This allows many consumer goods companies to sell products in refillable, high-quality containers. Consumers will pay a deposit for each of these, along with the cost of the product inside, and then notify the company when refilling is needed.
Are You Ready to Embrace the Circular Economy?
As you can see, there is an array of benefits offered by embracing the circular economy and bringing it to life in your business or organization. If you need help achieving these eco-friendly methods and practices, working with the professionals in this industry is helpful. Don’t underestimate the benefits of embracing this economy and all it has to offer businesses of all sizes and in all industries.