You as the primary stakeholder
What is the circular economy?
Our current economy operates within a linear model sometimes described as a TAKE – MAKE – WASTE model.
1. We take materials from the earth
2. We make goods and services with those materials
3. We waste what we cannot use
The circular economy works to discontinue this linear model and implement a regenerative one also known as WASTE EQUALS FOOD. The goal being that activity within the economy should build overall “health” for all stakeholders (people, business, government and environment). In order to do this, it employs methods to design out waste, extend the life of products and materials, and improve our natural systems. The following are a few examples of how this might be carried out…
1. Bio materials are used that can be returned to the earth to replenish nutrients
2. Products are created to last a long time and when necessary be easily repaired or remanufactured
3. Avoid non-renewable resources that create harmful pollution to air, land and water
4. Employ renewable resources to replace non-renewable ones
The implementation of the above methods will have a strong impact on the stakeholders within this type of economy. The stakeholders within our current economy can be categorized into three overarching groups: producers, the environment and individual consumers. Producers create the goods and services that we as consumers need for everyday life. In the circular economy, they will also be the ones to return biomaterials to the earth and repair products as needed. The environment contains the limited amount of materials that the producers need. It is also the recipient of all our waste in the current linear system, and therefore is the main beneficiary of a waste-free model.
Why are you so important?
The individual consumer (you, me, us) is the key stakeholder of the circular economy. You are the ultimate decision-maker. You are the one that has the power to give the circle real motion. Without you, there is no movement within the circular economy. You as a consumer have the buying power to determine where you want to spend your scarce amount of time and money. When you decide to put these two to use in the circular economy, you give it life and power. Without you, there is no demand and with no demand, there is no incentive for the producer to create circular goods to provide options for circular living. This pattern shows us that the circular economy requires a shift in mindset to be successful. This mindset must change to incorporate a system of shared ownership and collaborative systems.
By working together, the circular economy can come to fruition more effectively than if all were to act as individuals. The change in mindset goes hand in hand with the alteration of our behavior as consumers. Thankfully, there are already options for you to act as a consumer with a circular mindset. This conscious consumerism, we can call it, is your best option to help implement the circular economy. Another great option is to simply reduce consumption overall. While a daunting task at first, this simple decision creates immense benefit for all of us. When you decide to consume less, less is produced. When less is produced, less is wasted. When less is wasted, less people are harmed, less environments are polluted and the health of everything increases. The overarching theme of the circular economy is that we must change our mindset at its roots. This necessary changing of behavior at the individual level makes you, me and us the primary stakeholder within this new economic system.
While it may seem like a lot of pressure to have the success of the circular economy on your shoulders, don’t worry because Sustaio is here to help. Simple changes in your everyday life are all steps in the right direction and you have a lot of help. Together, all of us can create the sustainable, successful and uplifting economy that we deserve to live in.