What is a circular economy?
Redefining our "Take, Make, Waste" linear economy
Did you see the article about circular economy in the Australian mainstream media today? Bega's bid to become a circular economy to reduce waste It is such an achievement that finally circular economy is getting coverage like this. When I started to learn about circular economy ca. 2020, I read a statistic that fewer than 1 in 10 people in Australia had even heard of the term and that is certainly borne out by the numerous blank looks I have received over the years when I tell people about my passion for circular economy. But that is changing. Since 2020, the number of times that people have searched the term ‘circular economy’ via Google has more than doubled (Google Trends). The word is getting out.
So what exactly is a circular economy?
Dame Ellen Macarthur and her namesake foundation have been pioneers in this space for more than a decade. And if you really want to know what circular economy is all about, then you should absolutely watch the TED talk she gave about it in 2015.
Dame Ellen Macarthur TED Talk (2015)
It still gives me goosebumps.
She distilled her message into three foundational principles, driven by (deliberate and careful) design:
1. Eliminate waste and pollution
2. Circulate products and materials (at their highest value) for as long as possible
3. Regenerate nature
Underpinned by a transition to renewable energy and materials, the circular economy is a resilient system that is good for business, people, and the environment.
And more recently, the Danish Design Centre added another principle which I think fundamentally underpins Principle 1 and is so important: “Redefine a meaningful life with less consumption”.
How to redefine a meaningful life with less consumption
This is just the first in a series of articles I hope to write about circular economy as I believe that a transition to a circular economy can help address many of the modern-day issues we grapple with that impact business, people and the environment.
For more information, you can follow these links:
The Bega Valley story on Landline was inspiring. Thank you for a great introduction to the circular economy in your article. I also recommend Ellen MacArthur as a great resource.
Would innovation hubs that bring people from disparate industries and disciplines together to find new collaborative ways of doing things be important in breaking away from the links in a supply chain model?