Materials Circular Economy - Why Circular Economy is Necessary?

Why Circular Economy is Necessary? - Seeram Ramakrishna

On 1st March, the United Nations Environment Programme (UNEP) released the 2024 Global Resources Outlook report. Recommendations for action:
- Boost circular economy business models.
- Building circular economy capacity and coalitions.
- Resources decoupling from the economic growth.

Facts and considerations ensuing these recommendations include:
Ø 55% of greenhouse gas emissions (GHG) and 40% of particulate matter health-related impacts are attributed to the extraction and processing of material resources (fossil fuels, minerals, non-metallic minerals, and biomass).

Ø Global material extraction has surged from 30 billion tons in 1970 to 106 billion tons in 2024 and is projected to increase to 160 billion tons by 2060. In other words, 23 kg per person per day in 1970 to 39 kg per person per day in 2024. Rising affluence contributed to 40 % of the global increase in material extraction, while population growth contributed to 27%.

Ø High-income countries use 6 times more materials per capita and are responsible for 10 times more climate impacts per capita than low-income countries.

Ø Decarbonization of material production and the supply chain of materials, and increased material efficiency are necessary to mitigate climate change and pollution-related health impacts. These strategies should move into the centre of attention of climate policy.

Ø Further resource efficiency and reductions in material demand can be achieved by circular economy strategies, which include refuse, rethink, reduce, eco-design, reuse, repair, remanufacturing, refurbishment and recycling, among others. Such strategies allow for maintaining the value of products and materials in the economy for longer, reducing the need for virgin material extraction and waste generation, and improving the management of waste. Regulatory frameworks need to favour circular economy business models and promote the development of innovative approaches and demonstrative examples, which could then be scaled up.

Ø It is possible to reduce resource use while growing the economy. 

References:
(1) United Nations Environment Programme, & International Resource Panel (2024). Global Resources Outlook 2024 - Bend the trend: Pathways to a Liveable Planet as Resource Use Spikes. https://lnkd.in/gp2duhCR.
(2) Springer Journal Materials Circular Economy (https://lnkd.in/gx_x85ZE).
(3) https://lnkd.in/ghSB8hG4
(4) Biotechnological approaches: Degradation and valorization of waste plastic to promote the circular economy, Circular Economy, https://lnkd.in/gXpBeCpY.

Note: A global consulting firm projects 30 million sustainability-linked jobs in South East Asia by 2030.