By Dr. Lindsay Ryan Valerio
The circular economy is synonymous with inclusive business models that are adaptable to the changing reality in which we currently live.
It is necessary to convert the open and linear system of management of resources, goods, and services into a closed and circular system. In the first system, all products end up becoming waste because of its focus on short term consumption, requiring natural resources that are increasingly limited. Meanwhile, the circular system aims to ensure that products, their components, and resources in general, maintain their usefulness and value at all times.
In this way, the circular economy approach implies the transformation of «business as usual» equal to «extraction, production, consumption, and waste», into a model in which waste is seen as a raw material; thus, maximizing efficiency of the use of natural resources, that is, seeking to reduce the use and extraction of these resources. It is an urgent measure because if we continue with the current patterns of consumption and production, taking into account the increase in population, we will need three times more natural resources than in 2015. This is simply impossible since we only have one planet.
This type of economy offers great opportunities for greater economic growth, job creation, innovation and, above all, the reduction of environmental and social impacts. It can be said that it is the most reasonable and logical response to a multidimensional crisis situation. That which questions the principles of economic growth based on the intensive use of matter and energy, and that better resolves the serious situation of loss of biodiversity, excessive generation of waste, depletion of natural resources and high pollution of air, soil, and oceans, without forgetting one of its most harmful causes: the increase in the emission of greenhouse gases, and the acceleration of the effects of climate change.
CONTACT: Dra. Lindsay Ryan Valerio - [email protected]