Summary of The Circular Economy

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Rating

7

Qualities

  • Scientific
  • Well Structured
  • Concrete Examples

Recommendation

Add the term “circular economy” to the argot describing sustainable business strategies. It refers to green practices that reduce waste and minimize industry’s ecological toll. This report from the Centre for European Policy Studies lays out how small and medium-sized businesses can go green, and it offers examples of firms that have earned their circular economy bona fides. Readers will find the case studies the most intriguing part of this otherwise dry, technical work. getAbstract suggests it to managers, entrepreneurs and policy makers involved in sustainability.

About the Authors

Vasileios Rizos and Arno Behrens are researchers at the Centre for European Policy Studies. Terri Kafyeke and Martin Hirschnitz-Garbers work at the Ecologic Institute, an environmental think tank. Anastasia Ioannou is a researcher at the University of Piraeus Research Center.

 

Summary

The “circular economy” refers to sustainable business processes that incorporate recycling. Under this concept, industry reduces waste, uses renewable energy and minimizes harmful substances. The circular economy differs from the “linear economy,” in which firms use and then dispose of materials. Circular sustainability carries a strong economic rationale: By one estimate, a subset of European manufacturers could collectively save €265 billion to €490 billion [around $280 billion to $520 billion] per year on material costs – up to 23% of what they spend on inputs – through circular practices...


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