Circular Economy

Did you know…out of 0.5 trillion tonnes of virgin materials used around the world, only 8.6% are circled back into new products. (The Circularity Gap Report 2022)

WHAT IS CIRCULAR ECONOMY AND CIRCULARITY

The term Circular Economy describes an economic model that maximizes the value of all materials and energy while also preventing waste across the entire product value chain. In a circular economy waste is reduced or eliminated, and the use of new resources is minimized by bringing traditional waste products back into production, by extending product life-cycles and by using renewable resources and energy. It’s unlike a linear economy, sometimes called the ‘take-make-waste’ model, which relies on large amounts of material and energy while producing a lot of waste.

The Circular Economy is a systems-based solution framework that can be applied at the local level to help businesses and communities implement sustainable practices and help tackle global challenges like climate change, biodiversity loss, waste and pollution. The three main principles of circularity include:

1. Design out waste and pollution
2. Keep products and materials in use
3. Regenerate natural systems

The term circularity is sometimes used to refer to a set of business practices that contribute to the Circular Economy. 

THE MANITOBA SUPPLY CHAIN CONTEXT

Supply chain management is a central function in every organization across the economy and therefore plays a critical role in helping drive the transition towards a Circular Economy. Supply Chain Manitoba recognizes the importance and value of circularity to our environment, our economy and to the health and prosperity of Manitobans. We will provide a central platform to engage and inform supply chain professionals across our economy to position Manitoba businesses and organizations for success in the rapidly evolving Circular Economy.

There are many ways in which businesses can implement environmentally sustainable, circular economy practices. Read on and check back often.