Assignment on Circular Economy PDF

CIRCULAR ECONOMY
Introduction
It is every time that we buy something and after using discard the same and these each and every
discarded material has a very important significant impact over the earth and as well as it’s
population. Eventually after discarding the used items or material these are tossed into water
bodies and landfills that contributes a huge inefficiency of economy, waste comprising of
different materials and results into damage to the environment. The use of resources smartly will
enable people to achieve and enjoy a life full of prosper and our planet will also become healthy.
Though our present structure of production might seems bleak, there is also a greener and cleaner
way that improves both economic as well as environmental wellness. And this way is called the
Circular Economy. The main intention of circular economy is to circulate products in a state of
use that is of high value by using supply chains for longest possible way. Due to this, “making
things last” is considered as moral as well as environmental and obviously economic imperative.
The implementation of circular economy is achieved by producing materials smartly by keeping
the product’s complete life cycle in mind, repairing and reusing so that the useful life of the
product can be extended, and after using it up its life the product is re manufactured into a new
different product from the old one.
Sustainable development and circular economy go hand in hand. While the former is based on
shortage of resources worldwide and degradation of environment, the latter focuses on circular
flow of materials in socioeconomic system, an approach to conserve natural resources and
minimize waste discharge.
Moving and shifting to circular economy from the conventional linearity is something like
making a small change which can bring a large difference in a long run.
Concept of Circular Economy
Looking back to the present take -make-waste extractive structure of industries, a circular
economy targets to redefine the growth, focusing on social benefits that are positive. It enables
successive decoupling of economic works starting from the finite resource consumption to

developing the system waste out. Supported by the renewable energy sources, circular models
developed the natural, social and economical capital.
Circular economy is that kind of economic system that targets in waste elimination and the reuse
of resources. It is obviously the winner of “reduce, reuse and recycle” which means reducing
production and continually using any product that is impossible to return into the nature.
Minimizing waste and waste elimination altogether. In accordance to the circular economic
model, there is a possibility of gain of economy and also consciousness about environment are
possible. The three principles upon which the circular economy is based are as follows:
Designing the wastes out and reduce pollution
Continual use of materials and products
 Regenerating the natural systems
The economic activities of circular economy builds as well as rebuilds the health system. The
present concept of circular economy identifies the economical importance needs to work with
efficiency in every scales including small and large businesses and also for individuals,
organizations located locally and even globally. Shifting to circular economy not only reduce the
negativity of linear economy but also it signifies a shift that is systemic and can build resilience
that is long termed , businesses are generated with economic opportunities.
The concepts of circulatory has intense origin in the field of history and philosophy. The notion
of feedback and cycles in our real world is considered as ancient. After World War 2, the circular
economy was revived, in the countries of industries, with the advancement of digital studies such
as computer based work of the system underlying the non linear economy unequivocally open
the complexity and unpredictable quality of the globe we live. The presence development has
that much power to support the implementation of circular economy, by using digital
technologies, by increase of virtualization, lucidity, intelligence that is driven by feedback.
Circular Economy Principles
Circular economy model is based on intention of eliminating waste out. More precisely,
circular economy identifies nothing as waste. To implement this, products must be long

lasting which means always there will be use of good quality material and there will be
ways to reuse and recreate new things from the same old used product.
Lastly, all these products that can be reused are separated from disposable and recyclable
products (those for which high labor count is needed as well as energy is lost). The main
intention is enhancing and preserving natural capital by optimizing stocks and reusing
resources.
There is a difference between the biological and technical cycles created by the circular
economy models. There is consumption present only in cycles that are biologically
mediated. Here materials like food linen or cork that are biologically based are processed
by composting and anaerobic digestion. Living systems from where renewable resources
can be acquired Such as soil and oceans can be regenerated from this cycle. On the other
hand, in the cycle of technical system there is recovery and restoration of products,
materials and different components by using different strategies such as remanufacture,
reuse and obviously recycling. Ultimately, the key target of circular economy is to
circulate products by optimizing them which are very useful at the cycles of technical and
also biological areas.
To fuel this circular economy cycle the amount of energy required must be renewed from
the nature depending on the fact of decreasing the dependency over resources and
increasing the resilience of the system. This principle is based on revealing and
eliminating externalities that are negative and development of the effectiveness of the
system.
Linear economy for consumption and production are being followed by people from the time of
industrial revolution. Generally used raw materials are needed for producing something and after
consumption those became waste and are discarded. On the other hand, the intention and moto of
the circular economy is regenerative and the main idea of this model is to increase performance
of the resources and reusing the same and minimize waste up to zero level. The benefits this
circular economy model contain is high and this also bring potential for creating value of huge
amount within different fields.
Barriers of circular Economy