Paris Climate Agreement, UN Sustainable Development Goals, and many other international treaties have emphasized on Circular Economy (CE) to mitigate the climate change crisis. It is now gradually being embraced by the corporates as well as our society. Through adopting a sustainable lifestyle, we play an integral part in creating a healthy planet for all. The Indian way of life has always had this concept at each household and village level, where each item was repaired, reused, repurposed, restored, renovated, and replaced only when it could no longer be used any further in any manner. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
The organic lifestyle was the norm with every waste being composted at the household level and used for agriculture. There was no concept of landfill either. Now the same is being emphasized by the proponents of CE. Products that conform to CE standards need to have a long functional life, be simple to repair, be able to be reconditioned and be used multiple times before being discarded. Through actions such as reducing waste, reusing goods, and recycling materials, citizens and businesses alike can successfully implement a CE within society.
A linear economy, on the other hand, follows the “take-make-dispose” method and, in the process, creates tons of waste each year as goods and materials are disposed of much before extracting their maximum value. After industrialization set in, the economy was measured by the rate and quantum of production. It worked towards creating larger demands which further led to a vicious cycle of higher production putting more pressure on all our natural resources.
Essentially, the linear economy’s main goal is to produce and sell as many products as possible which creates huge waste. The world today generates in excess of 2 billion tonnes of municipal solid waste annually with more than 1/3rd of it not being managed in an environment-friendly manner, thus polluting our air, soil and water.
The CE is essential to safeguard our planet. It yields significant benefits to our agriculture, domestic, and industrial sector of our society. The CE, through its carbon-free and restoration of the ecosystem approach, addresses major global issues of biodiversity loss, resource scarcity, global warming, and pollution.
As a closed loop system, where goods and materials retain their maximum value, a CE aims to restore the environment by reducing consumption of finite resources which drastically lessens production of waste.
The corporates have a great role to play in propagating the CE. Companies can undertake their social responsibility through two routes; one by adopting the practices of green businesses that reduce dependency on natural resources, and enhance the lifecycle by creating smart modular products, and second by promoting social projects that improve the circular economy at the supported community level. Corporate Social Responsibility (CSR) in a broader sense, involves businesses taking responsibility for their impact on society and the environment.
Embracing a CE within CSR initiatives can lead to sustainable business practices that benefit both the company and the community. The CE concept encourages the use of natural resources for long-term consumption and reuse. Its goal is to replace the current linear economic paradigm of low-cost, quick fabrication and discard, with long-lasting commodities that can be easily repaired, deconstructed, or recycled. A CE production model would encourage repairing, refurbishing, and reusing products to extend their usefulness before they reach their natural endings.
Similarly, the corporates with the help of suitable Non-Governmental Organizations (NGOs) can implement social projects that enhance circularity in a given region by initiating environmentally friendly initiatives to uplift the society and local economy. NGOs are an important component of the Implementation strategy of CSR projects to follow the CE path. They are well-positioned to collaborate with businesses and drive impactful CSR projects that promote a CE. By leveraging their expertise, networks, and on-ground presence, NGOs can play a pivotal role in initiating and implementing initiatives that foster sustainability and circularity. The NGOs specialize in various facets of implementation strategies, awareness campaigns, impact assessments, capacity building, etc that could be very handy in CSR implementation ensuring CE.
Through their community connections, local knowledge, and project management skills, NGOs can help businesses create meaningful and lasting positive impacts. Collaborative efforts between NGOs and businesses not only drive CE practices but also contribute to sustainable development and a more resilient future. Integrating CE principles into CSR initiatives aligns businesses with sustainable practices and creates a positive impact on society and the environment. By adopting these initiatives, companies can contribute to reducing waste and fostering a more resilient and regenerative economic system by conserving resources. Embracing a circular economy within CSR demonstrates a commitment to responsible business practices and a sustainable future. Some of the examples of CSR initiatives, to promote a CE are as under-
- Research, Development, and Innovation on Circularity of Businesses.
- Enhancing Product Life through Modular Designs and Refurbishment.
- Smart Energy Solutions and Water Management.
- Recycling and Smart Waste Management.
- Environment-Friendly Packaging.
- Reduced Logistical Costs and Circular Supply Chains.
- Reducing and Repurposing the Waste.
- Organic Farming and Waste Reduction.
- Capacity Building, Awareness Campaigns, Partnerships and Collaborations.
The CE concept can be implemented at strategic as well as operational levels through the involvement of the governments for impacting policy formulations, Corporations through smart products and processes, and the community through smart consumption patterns and efficient waste management and disposal. Hence, citizens, governments, businesses, and civil society must implement a CE to minimize waste and address environmental consequences, such as the acceleration of climate change and pollution, resulting from a linear economy. Joint sensible efforts by all stakeholders can address the complex challenges of climate change and create scalable solutions for a balanced economy.
By Air Marshal VPS Rana PVSM
VSM(Retd),
Chief Advisor Himalay Unnati
Mission
