Circular Economy: Why You Should Be A Part Of It
- December 22, 2019
- Posted by: Agility360
- Category: Sustainablity
Fact: Economy impacts Ecology. Ecology Impacts Society.
In the last few decades there is an increased awareness about environmental sustainability. The rate at which waste is generated far exceeds the action.
While leading a sustainability initiative program I became aware that “re-use” and “re-cycle” still created non-recyclable waste. Then came the hidden cost of managing such programs actively.
While we may not be a manufacturer, we are consumers. The choices we make today affect our tomorrow. Circular economy focuses on reshaping business and economic systems. Waste is ‘eliminated or reduced by design‘.
One company that has started this process is Philips. Their Philips Circular lighting have a “pay for the light you use” model. By adopting this model they are able to design better products from usage patterns. They maximize product life time to reduce maintenance overhead. Looking at the landfills and now waste floating in the ocean its time we do something about it.
What do you think about “Circular Economy”?
How can your Transformation Programs include this for a new business model ?