History and Aims of Circular Economy

Aug 6, 2021 - 21:39
History and Aims of Circular Economy

The idea of circular flow for materials and energy is not new, appearing as early as 1966 in the book by Kenneth E. Boulding, who explains that we should be in a "cyclical" system of production. For its part, the term "circular economy" appeared for the first time in 1988 in "The Economics of Natural Resources".

This notion was developed further, following 3 major events: the explosion of raw material prices between 2000 and 2010, the Chinese embargo on rare earth materials and the arrival of the economic crisis.

Today, the climate emergency and environmental challenges have strongly influenced and pushed companies and individuals to rethink their consumption and production patterns. One of the answers to these challenges is presented by the circular economy model.

Thus, new modes of production and consumption are emerging with the main objective of generating billions of dollars while controlling and reducing environmental consequences.

Circular development is directly linked to the circular economy and aims to build a sustainable society based on recyclable and renewable resources, in order to protect society from waste and to be able to form a model that is no longer considering resources as infinite.

This new model of economic development focuses on the production of goods and services taking into account environmental and social costs.

Circular development, therefore, supports a circular economy to create new societies in line with new waste management and sustainability objectives that meet the needs of citizens. It is about enabling economies and societies, in general, to become more sustainable.

If we fail to act and change the linear economy to a circular economy, the volume of plastic on the market will double, the annual volume of plastic entering the ocean will almost triple, and ocean plastic stocks will quadruple.

In 15 years, clothing production has doubled, but usage has dropped by 40%, and less than 1% of clothing is turned into new clothing at end of its use. The economic, health and environmental benefits of a circular economy for food alone would be worth USD 2.7 trillion a year by 2050.

Note: please Comment Here for UPDATES and CORRECTIONS 

Donate. Buy Us Coffee  

Dear Reader news media is in crisis & you can fix it.

India needs free, fair, non-hyphenated and questioning journalism even more as it faces multiple crises. But the news media is in a crisis of its own. There have been brutal layoffs and pay cuts. The best of journalism is shrinking, yielding to the crude prime-time spectacle. My digital news .in  has very few young reporters, columnists and editors working for it. Sustaining journalism of this quality needs smart and thinking people like you to pay for it. Whether you live in India or overseas, you can do it here

Donate. https://mydigitalnews.in/donate  

NOTE: Please Email us for updates and corrections, if you wish to publish articles like this you can send them to info@mydigitalnews.in  or mydigitalnews.in@gmail.com  or you can Directicle write Articles on our Site by registering https://mydigitalnews.in/register  

Disclaimer: Mydigitalnews.in provides the content from various information sources ‘as is and the content to be used only for informational purposes and not responsible for the inaccuracy or deficiency of the provided information. Mydigitalnews. in have the right, at its sole discretion, to make modifications in any aspect of the provided information. Mydigitalnews. in Internet site may contain links to other Internet sites. While we try to link only to sites that share our high standards and respect for privacy, we are not responsible for the content or the privacy practices employed by other sites.

What's Your Reaction?