It is not news that the world have limited resources and that the global and developed economy we are living in today has been exhausting resources like metal, gas and oil to keep the production of goods and services moving. With the lack of natural sources to turn to, men have been pushed to innovate to overcome the need of unavailable material and important themes such as social corporate responsibility, sustainability and environmental processes have been more present in the business world than ever again.
The concept of circular economy was born in Europe in 2012 and basically englobes production processes that generate zero waste. In circular economy, the process anticipates and is designed for resources to be safely returned to nature or to be put back into systems to be reused and/or renewed, with the application of a TBL approach. This concept is seen as a solution to address the most relevant global environmental issues of the moment, such as excessive waste, climate change and pollution.
According to a South Australian Report, the adoption of the circular economy in the region could generate approximately 25,000 jobs by 2030, including developing bio-based material, expanding the recycling industry and activating under-utilised assets (e.g. offices spaces and cars). The Loop Circular Economy Platform is a new training and information hub launched in Adelaide in June 2018, that seeks to help Australian business to combat excessive waste by bringing businesses, Government and research together. They believe that bringing different expertises leads to thinking differently and generate more innovative ideas.
Home of the most beautiful landscapes in the world and with an expressive population and economic growth in the past years, adopting circular economy to business practices country-wise could be the solution to not only contribute to the reduction of environmental issues globally, but also to preserve the natural resources and wild lives of Australia.