CIRCULAR ECONOMY

A circular economy is an eco-system in which parts, finished goods, and by-products retain most of their value. Earth5R has started action-based solutions for sustainability with the cornerstone of reduced, reuse, and recycle, which guide the principles of this system instead of manufacturing, use, and disposal.

Because of the existing state of the ecology, short-term consumerism has placed Earth in an unsustainable position. The ecosystem today operates in direct opposition to nature’s long-term scheme. Reduction, reuse, and recycling of materials are the norm in this system.

EXTERNAL FACTORS OF CIRCULAR ECONOMY

ECOSYSTEM CLOSED-LOOP PROCESSES

In a circular economy, the transformation or use of every leftover from the commodity results in the creation of a new product, making waste almost non-existent. Eliminating toxic compounds, segregating waste, and generating value through biological and technological cycles results in the production of residual value. In this approach, it’s equally crucial to ensure the excellent quality of the recycled materials as it is to recycle them correctly. Being compliant with quality standards is also essential to the circular economy.

RENEWABLE ENERGY

Renewable energy sources are used to produce energy in a circular economy, just like products are sustained.

SYSTEMS ANALYSIS

Systems thinking is a necessary component of a circular economy, alongside closed material cycles and renewable energy. In the context of the circular economy, systematic thinking implies a system in which the actions of one element of the ecosystem affect the results of another component. This idea must be applied to the circular economy by considering both the immediate and long-term effects of each value chain that is established.

PRINCIPLES OF CIRCULAR ECONOMIES

1. One of the key characteristics of a circular economy is the exploitation of waste as a resource. Recycling is done for all biodegradable goods, while non-biodegradable items are returned to nature.
2. It entails reintroducing the component to an ecosystem where its current usage differs from its previous one.
3. Reusing a product in its entirety or in parts that may have a distinctive value in the economy
4. Reparation is the process of repairing a product’s damaged components and giving it new life.
5. Valorisation is the process of extracting energy from non-recyclable substances.
6. The goal of the functional economy is to raise the value and utilisation of things by displacing the sale of commodities with the rental of items. After serving its purpose, the product is divided into different categories and used or recycled appropriately.
7. Using renewable energy sources instead of fossil fuel extraction to create, repurpose, or recycle the goods.
8. Eco-design is the use of design thinking where the effects on the environment are taking into considerat

THE ADVANTAGES OF A CYLINDER ECONOMY

Ever since industrialisation began, people have been using a linear model of manufacturing and consumption wherein they transform raw materials into products, add value to them, and then typically handle the residue subconsciously or throw it away as garbage.

A circular economy incorporates regenerative design thinking and strategies to improve the performance of resources that were previously considered trash, forming an economic system framework.

ADVANTAGES FOR THE ENVIRONMENT OF A CIRCULAR ECONOMY

1. Fewer emissions of greenhouse gases
2. Wholesome and productive soils
3. Less harmful externalities

Greater potential for growth in the economy is one of the economic benefits of establishing a circular economy.

1. Added financial savings
2. Economic expansion

FURTHER ADVANTAGES OF A CIRCULAR ECONOMY

1. New prospects for profit
2. Decreased price volatility for raw materials
3. New service demand

IMPLEMENTING THE CIRCULAR ECONOMY BUSINESS MODEL: DIFFICULTIES

1. While setting prices, social and economic aspects are not taken into account, favouring the financial market over people and the environment.
2. Companies that are built on a circular economy are challenging to create since the majority of investors invest for financial gain.
3. There is little market for circular items.
4. The supply of design thinking professionals and services is quite low.
5. The linear economic model of production is supporting by the existing economic system.
6. Laws and rules is not supporting.
7. It is necessary and not very popular to shift from short-term financial goals to long-term, sustainable ones.
8. Sustainability is not a factor in the GDP index.

FROM CRADLE TO GRAVE 

According to this design concept, every material used in commercial and industrial operations has value. It concentrates on developing product designs that have greater positive effects and, via effective management, lessen negative effects.

The aim is to develop components for products that can be continuously retrieved and used as technical and biological nutrition in these processes.

1. Removing the idea of waste
2. The energy used is entirely renewable energy.

ECONOMICS OF PERFORMANCE

Product life extension, using services rather than products, the notion of a “functional service economy,” and performance economy are the four key objectives of the circular economy. This idea contends that a framework should govern the circular economy.

BIOMIMICRY

The field of study known as “biomimicry” replicates the best design and process ideas from nature to address human challenges.

1. Nature as a source of creativity
2. Nature as a benchmark for sustainability
3. Nature as teacher

ORGANIC CAPITALISM

Natural resources such as land, water, and air are all included in natural capital. It contends that environmental sustainability and commercial interests frequently coincide.

The improvement of natural resource productivity.

The use of biologically inspired products eliminates the idea of waste, and the leftovers either contribute to eco-friendly fuel or are inputs for other production processes.

The service and marketing strategy removes, reduces, or eliminates defects through processes and services rather than creating the new product.

Human demands impacted the demand for natural resource. Regeneration and restoration are the targets.

CERTAIN PROJECTS FOR EARTH5R TRAINING AND CIRCULAR ECONOMIC DEVELOPMENT

RECYCLING EDUCATION IN PALGHAR, INDIA: Citizens must actively participate in sorting waste, building a network of organic wastes for organic matter, recycling for dry waste, and reducing waste going to landfills if we are to realise the dormant potential of trying to recover waste and encouraging circular economy. Community awareness and sensibility are crucial for this.

TO ADDRESS THESE DIFFICULTIES, VOLUNTEERS CREATE SUSTAINABLE COMMUNITIES: As part of the ACT Mumbai project, Earth5R coordinated a mangrove clean-up campaign in Bandra, India. The group includes volunteers from the community and young people, Earth5R internships who are a part of the global internship programme, the municipality, ragpickers, and nearby companies. Waste collection and separation into recyclable and non-recyclables were the tasks at hand.The rag-pickers can sell the recyclables to the recyclers with ease if they divide them into metallic materials, plastic, and glass.

RECYCLING AND LAKE CLEAN-UP IN MUMBAI, INDIA: Students and residents have participated in regular clean-ups with Earth5R. To date, the group has effectively recycled 1 Ton of plastics and returned it to the circular economy as opposed to letting it clog up a landfill. The philosophy behind Earth5R is that finding rubbish and depositing it somewhere else is not really a sustainable option. The group upcycles, recycles, and adds it back into the circular economy.