The European Sting, January 28, 2022 by
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Why a circular economy is the future
The transition to a circular economy is likely to move faster than previous transformations. Gartner optimistically predicts that by 2029, supply chains will not be allowed to produce waste, as customers and many governments will find it unacceptable.
Five key circular business models
The Circular Economy Handbook demonstrates why born-circular companies have a superior business model advantage with these five business models:
1. Circular inputs, Waste becomes an asset, not a liability that you pay to dispose of.
2. Sharing economy concept, Born-circulars maximise how idle assets are used across a community while providing customers with affordable and convenient access to products and services.
3. Product as a service, The customer purchases a service for a limited time while the provider maintains ownership of the product and remains incentivized for the product’s ongoing maintenance, durability, upgrade, and treatment at the end of its use.
4. Product use extension, The born-circular designs their products for repairability, upgradability, reusability, ease of disassembly, reconditioning, and recyclability of all components.
5. Resource recovery, Resource recovery focuses on the end stages of the usage cycle, namely the recovery of embedded materials, energy, and resources from products at the end of use that is no longer functional in their current application.