THE CIRCULAR ECONOMY
What is a Circular Economy?
A circular economy is the opposite of a linear economy. In a linear economy, raw material is converted into finished products by various means. Once these finished products are distributed, they are used and then thrown away. This process creates a large amount of wastage.
On the other hand, a circular economy aligns with the principles of environmental preservation and optimal usage of all materials and products. In a circular economy, the end product of a biodegradable item is decomposed off in the right manner. The non-biodegradable items are not disposed of but instead recycled and reused in the process of manufacturing to create something new. Given the state of the environment at present, it is best for all countries to start transitioning into circular economies.
The circular economy works on a concept that goes to say that all resources are used optimally and there’s no wastage whatsoever. This is the most ideal scenario but in the real world, the circular economy works towards minimising wastage as much as possible. The circular economy also follows nature’s designs and cycles. Basically, all aspects of consumption are divided into a biological and technical cycle. The biological cycle of consumption refers to the consumption of food, linen, cork, etc. Products belonging to the technical cycle are always in circulation. They can be repaired, restored or recycled.
What are the benefits of a Circular Economy?
- Reduction of greenhouse gases.
- Creation of new industries.
- Increase in employment opportunities.
- Decrease in pollution.
- The potential reverse of environmental damage caused.
How can a Sharing Economy contribute to a Circular Economy?
In recent times, both the circular and sharing economies are gaining traction and being followed by thousands of people all around the world. A sharing economy refers to an economy in which multiple people or parties share the same items. Essentially, a sharing economy is like one large library, you take what you need, use it and return it to the same place in mint condition. Once you have returned the item, somebody else may borrow it. An example of sharing economy that has grown exponentially is AirBnB.
In a circular economy, everyone already owns what they need. The only catch is that these products are either made from recycled materials or with minimal wastage of resources. On the other hand, in a sharing economy, the products that are needed by everyone (Ex: Tools) are found in a commonplace from where they can be borrowed for a certain time period. A sharing economy can contribute to a circular economy by reducing the number of items purchased. This would in turn reduce the number of materials and processes used- which is one of the main goals of a circular economy.
How can we individually contribute to a circular economy?
During the 20th century, the number of raw materials used exceeded the population of the world by twice. One of the main aspects of a circular economy is to create a system where natural resources are used optimally. At the moment, some of the richer countries’ consumption is 10 times the consumption of a poor country. This goes to show that a lot of what is being consumed is not necessary and this level of consumption needs to be reduced. If consumption is reduced, production will be reduced and the resources will be used optimally after.
Notice and better your consumption
Apart from a reduction in consumption, consumers need to keep an eye on their consumption and be better about it. This means that consumers should start consuming more ethically, sustainably and better-sourced items. Consumers should also start consuming items created from recycled materials. Another way of consuming better may be to not purchase any new items at all and shift to a sharing economy.
Creating a systemic change
A circular economy’s purpose is to create a systemic change in the long term. Basically, this change needs to be brought out in all companies and industries. If all industries take one step at a time, then there’s a possibility of creating a big change and gradually move towards a circular economy.
What is Irida Naturals’ contribution to a circular economy?
Irida Naturals is one of the few companies working towards creating a circular economy. All Irida Naturals products are made with wheatgrass, which makes them biodegradable and recyclable. This promotes the concept of sustainable production and consumption. Irida Naturals products are shipped out in packaging that is made of recycled material. This packaging can further be recycled or reused, automatically making it a part of the circular economy concept.
Irida Naturals products are of the topmost quality, making sure they are long-lasting. Since the products are long-lasting, they do not have to be replaced on a regular basis. This will lead to a reduction in consumption. Irida Natural also promotes the ideology of mindful consumption through its products.
Irida Naturals is taking steps every day towards a circular economy and creating a cleaner, greener and better environment for us all.
Making a difference, the right way!