Circular Economy Concepts and Implementation
Traditional business model is linear- TAKE-MAKE-DISPOSE. If we continue to make use of the same model at the current rate of growth, we will need 2 times the natural resources earth can produce by 2030 and 3 times by 2050. Natural resources are consumed at an alarming pace- to quantify, roughly at 50% rate of regeneration. Circular Economy has an important role to play in building a sustainable future. For e.g., the ReSOLVE frame work helps in implementing concepts – Regeneration, Share, Optimise, Loop, Virtualise and Exchange. This concept of circular economy is partially applicable to majority of industries but Optimisation is applicable to all. The challenges of addressing wasted resources, wasted products, wasted embedded values, wasted capacities, wasted lifecycles etc, are opportunities for optimisation. As we are now more familiar with SaaS (software as a service), there is a strong emergence of PaaS (Product as a Service) which allows you to use the product without owning it. We help companies analyse business models further to introduce concepts of circular economy and implement it.