Extent of Circular Economy as a Solution to the Ecological Crisis

Discuss the extent to which the
circular economy is a solution to
the ecological crisis?

TABLE OF CONTENTS
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Circular economy (CE) is basically the economic model which has been developed
with the purpose of maximising the usage of the raw material which has been extracted from
the natural environment. The main objective of this model is to bring sustainable
development which can be done by bringing disruptive changes in the manner the business
organization and the societies has been organized (Smol, Adam and Preisner, 2020). It is
working on various principle each having its own benefits. This essay provides an insight
about the usefulness of circular economy for meeting up with the ecological crisis that the
world is currently facing. It covers different examples and theories in relation to it and the
how it has been adopted by the businesses. This will provide a new perspective in way the
things were considered and carried out earlier and how innovation and creativity has brought
changes to it and met with the environmental challenges.
The most harmful element to the environment is the use of plastic consumption and
dealing with this issue is the biggest challenge of all the economies. In simple words, the
process of take, make and the dispose economy. People take it from the natural resources
being available, produce things or products and then dispose them in the landfills or
elsewhere after use. This business organization in which entities operates has led to creating a
vast environmental impact as a consequence (Moktadir and et.al, 2020). The mass
consumption, burning of the fossil fuels, developing the urban environment and the increased
ownership and usefulness of the cars has not only influenced the natural environment and the
world as a whole but also eroded the quality of life.
The circular economy is based on the belief that the it is result into achieving
sustainability without having any impact over the profitability of the business organization or
in terms of decreasing the number of items being available. The circular economy model is
based on the various types of theories, two of which is discussed underneath.
Cradle to Cradle design philosophy:
This cradle to cradle was delineated by McDonough & Braungart which suggests that
industry needs another standard which can undoubtedly addresses the issues as per over-use
and waste. This theory can be suggested as the structure and the production of the things in
such a manner, that at the completion of the items it can be reused, recycled and can be
reduced (Drabe and Herstatt, 2016). It is intended for changing the mechanical material
streams. It likewise targets upgrading the value and efficiency of the assets so as to have a
positive natural impact. Its reason is that there are 2 sorts of materials that can be improved