Ethics, Sustainability and Social Impact

Ethics, Sustainability and
Social Impact

Table of Contents
INTRODUCTION ..........................................................................................................................3
1: Circular economy ........................................................................................................................3
2 : Birmingham a common wealth city ...........................................................................................5
a. Development of circular economy...........................................................................................6
b. Barriers in circular economy ...................................................................................................7
3: Initiative of government and local companies.............................................................................8
4 : Common wealth local government meeting on recommendations ............................................9
Conclusion ....................................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Circular economy states about the economic system, which is made to minimise the
wastage of limited resource (Kirchherr and et.al, 2017). This report speaks about the benefit
and principle of circular economy. This report shows such theories from which the idea of
circular economy has been developed. Initiatives of local companies and government to
improve the circular economy is being mentioned in this report. Barriers in circular economy is
also defined in this report.
1: Circular economy
Circular economy refers to the model which is being implied by the various organizations
and companies. This model is related to production and consumption, which consists, reuse
refurbishing, repairing and recycling of already available material and also the product to
safeguard the environment. This model is getting used by the companies to reduce the waste
material. When the company finishes the product and the product gets ready to sell but it leaves
so much of waste and dust in the environment and sometimes, many companies through the
remaining waste into rivers and on empty lands which is harmful for the animals.
Circular economy is a system who’s aim is to eliminate the waste and encourage the uses
of recycled products. The main motive of this economy is to make the product equipped and
infrastructure for long duration. So that the productivity of the resources can be increased.
So such waste is harmful for humans as well, apart from this waste is causing harm to the
lives of animals. such type of products is harming the economy as well. Instead of throwing
such waste in the environment, companies may reuse this for making new products and can
create further value.
This can be taken in the form of departure from traditional to linear economic model
which is made from take-make-consume-throw away pattern. This model can only work on
large quantities of cheap and easily available materials.
The need of circular economy is getting increased as the population is increasing day by
day so the demand for raw material is also getting increased. In result the supply of raw material
is getting decreased (Morseletto, 2020). So if the company reuses the material and recycle the
products it can protect the environment and also it may fulfil the needs of the consumer. This
idea of circular economy is being propounded by Kenneth E. Bounding as per the Author people
must use the recycled products and think for the welfare and development of the environment.

Benefits of circular economy
Use of recycled products can save the money of EU companies and it can help the
environment in reducing greenhouse gas. If the circular economy becomes popular, so the
pressure ion the environment will also get minimized with the passage of time. the supply can
get increased and the demands of the people will get fulfilled. Apart from this, circular
economy is helpful; for then growth of country and it will bring innovation in the country.
Besides this, consumer will receive more durable and innovative products which will increase
their life span and also save their money.
Linear vs circular economy
Companies need raw material to manufacture the goods or products and after using such
products they get turned into waste (Prieto and et.al, 2018). Apart from these new good will be
made by using new raw material and the old one become outdated and no longer come into
usage. In result the more waste gets produced. This is not a small problem, these unused
products are producing more plastics in the ocean as companies and people through such old and
unused product in the rivers and seas. So the linear economy is not sustainable for long.
But on the other hand circular economy has totally opposite aim and objective. This idea
stops the extraction of raw – material and waste. This forces on the reuse of such material as
possible instead of thronging them into garbage and rivers. thus the circular economy is known
as make / remake and use/ reuse economy.
Principals of circular economy
As this economy is focuses on recycle and reuse but it is based in some principals then only it
can provide benefits to the environment and economy of the country. As it is a man-made
system so this have to follow some principals such as –
Waste = food
In the environment one species waste become food for another species. Similar to this, any
product and material which has no use becomes waste but it can be recycles and used it in
different ways. So people should use this principle and use waste material to form new one.
Energy from renewable resources
There are major sources of renewable energy is available in the environment such as Solar
energy, wind power and tidal power. As in the environment, a plant use sunlight for the growth