October is Circular Economy Month in Canada. It’s a chance to re-think how we produce, use and dispose of materials and products in our lives.
A circular economy shifts away from the traditional "take-make-dispose" linear model. Instead, it promotes a closed-loop system where products, materials, and resources are used, reused, and regenerated, thereby minimizing waste and environmental impact.
Linear Economy
Circular Economy
So how does it benefit communities?
Environmental Sustainability: The Circular Economy reduces the depletion of finite resources and minimizes waste generation. By recycling, upcycling, and reusing materials, we conserve natural resources, combat pollution, and combat climate change.
Economic Growth: Local businesses thrive in a Circular Economy. By designing products with longevity in mind and creating repair and refurbishment opportunities, it stimulates local industries and job creation.
Community Resilience: Circular Economy principles foster community resilience by reducing dependence on distant supply chains. By reinvigorating local production and consumption, communities become more self-reliant.
Social Inclusion: A Circular Economy is inclusive, offering opportunities for all members of a community. It encourages sharing, repair cafes, and affordable access to quality products, ensuring that nobody is left behind.
Cost Savings: Waste reduction and resource optimization lead to cost savings for both businesses and consumers. More affordable products and services result in a higher quality of life for community members.