Why aren't we funding this?
Though concepts like circular economy have been around for a long time, the Ellen MacArthur Foundation took it to the next level. The foundation was established by Dame Ellen MacArthur, a living legend in sailing and the fastest person to single-handedly circumnavigate the globe. In her speech at One Young World 2014 she said, “When you sail all around the world in a boat you realise what finite really means. Because what you have is all you have, there is simply no more. When I stepped out of the boat I realised that our global economy is no different. It is entirely depended on finite resources which will end sooner or later.”
Since then the foundation's goal has been to hasten a transition from our current linear economic model based on what can be termed as take-make-waste principles, to a regenerative circular economy. Since the birth of Ellen MacArthur Foundation, a lot of major companies around the world are practising the principles and concept of the circular economy. Companies such as Unilever, Kingfisher, and Phillips are now jointly working with the foundation, trying to adopt the method.
The reason behind talking about this particular method is that, when it comes to our resources as a nation, we don't have much time. We are already facing an economic crisis, where we are producing above our reach. If the method is applied in our country, not only will we save resources, but the production cost will be brought down to a minimum. This also means cheaper products. From cloths, food, to major electronic items, we could be saving a lot of cash.
We see waste lying around all the time. My question is, why not use it as a resource? A flooring company named Desco is now making carpets and glass from old carpets and waste materials which were thrown away. Mazuma mobile, a company in UK, offers a reuse-and-recycle service that lets consumers to unlock the cash value of their mobile phones, offering same day payments. If necessary, the handsets are refurbished by an external partner, and then sold to partners in emerging markets and to insurance dealers and retailers. The same process could be run here. The only company that is doing something similar work in our country is Aarong, but this could be a model for every business in our country. It is one of those ideas that we should adopt as soon as we can before we run out of what we have left.
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