What is a Circular Economy? This week's 1-Minute Climate Snippet breaks it down for you. The 3 principles are: Eliminate Waste, Reuse Products, and Regenerate Nature.
A traditional economy is “linear” but to achieve net-zero emissions it needs to be “circular.”
You might be wondering what all of this means — let's dive in!
In a linear economy, we extract materials from the earth, create products, and then throw them out as waste. A circular economy takes a look at the entire lifecycle of the product to keep it in use, regenerating the natural system, and inevitably reducing waste.
According to the Ellen Macarthur Foundation, the three principles of a circular economy are:
- Eliminate waste
- Reuse products and materials
- Regenerate nature
The circular economy plays a crucial role in combating climate change and advancing ClimateTech solutions. While the energy sector oftentimes steals the spotlight for creating solutions that bridge the emissions gap, we need to invest in multiple other ways to cut emissions. It’s essential that we take a critical look at the emissions resulting from the ways we create and produce goods.
The Circular Economy Show episode 4 “Tackling Climate Change: The Case for a Circular Economy” encourages listeners to think of a vehicle and its emissions. Rather than solely focusing on CO2 emissions from the exhaust, we need to think of all the steps and system-level solutions that can be applied when creating the vehicle itself.
Alongside the electrification of our global economy, we need to account for the 45% of emissions resulting from the ways we make and produce goods.
Adaptation deserves a seat at the table. We are now at a point where the negative effects of climate change are unavoidable and we must learn to shift our objectives and adapt to them.
Supporting Catalysts are businesses, organizations, nonprofits, etc. that indirectly support the work of decarbonizing our economy by enabling or enhancing the work of other Climate Tech Companies.