Building a more sustainable future with circular economy models

Building a more sustainable future with circular economy models

Planet Earth is heaving under the strain of global consumption and the waste it creates, but by transforming production processes and the lifecycles of goods into a circular value chain, companies and countries can redefine economies and contribute to the creation of a sustainable future for all, writes Carlo Stella, a partner at global management consultancy Arthur D. Little.

A circular economy involves fulfilling the needs of the current generation through products and services that are either restorative or regenerative, which extends the lifespan of materials maintaining those at their highest value. To do so, products need to be well maintained, easy to repair, restore, or dissemble for maximum recovery and limited degradation of materials.

The circular economy model can reduce resource consumption and harmful emissions, thus helping to tackle climate change, resource scarcity, waste, pollution, and loss of biodiversity. And there are economic and social benefits too, such as job creation and improved health among populations.