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5 Reasons Why The Circular Economy Is The Present & The Future

5 Reasons Why The Circular Economy Is The Present & The Future

5 Reasons Why The Circular Economy Is The Present & The Future

The circular economy is already present in our lives and will continue to increase in importance

The circular economy is a concept that, indeed, is quite familiar to you. Its implementation is already a fact, but it will continue to increase in the coming years! At Cash Converters, we have promoted a sustainable and circular mode of commerce for 25 years. We are pioneers in applying this formula that reduces the environmental impact and carbon dioxide emissions generated in producing new products.

Our products are subjected to exhaustive reviews to guarantee their sound quality. In addition, they have a two-year warranty, immediate financing and free shipping. If you still do not know the circular economy, we will tell you more about it.

circular flow of income in two sector economy

Circular economy: present and future

This system seeks the reuse and recycling of raw materials and components, in addition to promoting the use of renewable energy sources. In the linear economy, natural resources are transformed into products and thrown away. In contrast, a circular economy model seeks to bridge the gap between production and ecosystem cycles.

Bearing this information in mind, it is easy to deduce the benefits of the circular economy. Its advantages are far-reaching, which is why it is a system for the future. We tell you the five reasons why the circular economy is the present and the future! Read more interesting articles on at Hulm Dubai.

1. Reduce the use of non-renewable resources

The circular economy avoids using non-renewable resources, such as fossil fuels (oil, coal or natural gas). However, other resources should be excluded, such as nuclear power. Added are minerals such as gold or copper and other raw materials such as limestone.

If it continues like this, the consumption of this type of material will end up depleting nature since the sources from which they arise will be finished. This poses a series of risks for the economy and the environment.

Therefore, the solution is to reuse materials and products, recycle them or, if possible, repair them. Instead of throwing away a book, a computer or a console, it is best to prolong their useful lives, pursuing one goal: zero waste.

2. Reduce carbon emissions

Another of the objectives of this system is the decarbonization of the economy. In this regard, the European Environment Agency has launched an important warning: actions such as producing or disposing of materials account for up to two-thirds of greenhouse gas emissions.

Therefore, selling second-hand items is in line with this model since production or disposal processes are avoided and, consequently, toxic gas emissions.

The circular model revolves around the efficient and sustainable management of materials. For this reason, instead of throwing them away, they must be repaired, restored or converted into valuable objects. In this way, they do not become waste, and we do not have to acquire new ones.

3. Avoid waste generation

A cornerstone of this type of economy is the goal of zero waste. This is a public benefit since the seas and oceans will not be filled with plastic and garbage.

In addition, continuing with the massive extraction of natural resources from our planet will not be necessary, a practice that considerably alters the state of ecosystems.

Contrary to what some think, this economic formula does not cause a slowdown but promotes growth. It is a very beneficial system for the industry, people, and governments. At the same time, it promotes nature conservation.

4. Provides consumer benefits

In addition to the environmental benefits, it has significant advantages for the consumer. The reuse of materials discourages practices such as planned obsolescence. This means that the products last longer.

In turn, this translates into an increase in the disposable income of citizens. The reason is that it encourages practices such as buying and selling used items, leasing or renting.

Another significant consumer benefit is job creation: Many new industries need to emerge to achieve a circular economy. Therefore, there will be a large number of jobs available.

Indeed, some job opportunities related, directly or indirectly, to non-renewable resources will be lost. However, more jobs will be generated than lost, so that the calculation will be favourable. It will be in sectors such as renewable energy and its auxiliary industry.

5. Governments are taking steps to support it

Another key to guaranteeing the future of this system is the determined commitment of the public administrations. From the Government of Spain and the European Union, plans and legislation are being carried out to speed up their implementation and thus avoid climate change.

circular flow of economy

For example, in March 2020, the European Commission presented the Circular Economy Action Plan. It aims to promote more sustainable product design, reduce waste and empower consumers. One of the rights it raises is that of reparation.

Therefore, the future presents itself with good prospects for implementing a philosophy that defends sustainability. The circular economy is and will continue to be a reality.