{"id":6494,"date":"2019-05-29T12:10:06","date_gmt":"2019-05-29T12:10:06","guid":{"rendered":"https:\/\/rodinia.fi\/trailblazing-circular-economy\/"},"modified":"2023-03-09T08:35:53","modified_gmt":"2023-03-09T08:35:53","slug":"trailblazing-circular-economy","status":"publish","type":"post","link":"https:\/\/rodinia.fi\/en\/trailblazing-circular-economy\/","title":{"rendered":"Trailblazing Circular Economy"},"content":{"rendered":"\n<p>It is estimated that approximately 95% of the value\u00a0of plastic packaging material (i.e. \u20ac70 billion \u2013 \u20ac105 billion) is lost to the economy after a very short first-use cycle. Finding a way to salvage the so called \u201cplastic waste\u201d and turning it into a valuable resource however will pay dividends.\u00a0 <\/p>\n\n<p>Resource efficiency and management are hallmarks of a successful enterprise; it involves sustainable use of resources \u2013 human, capital and\/or material \u2013 combined with a holistic perspective of the supply chain.\u00a0<\/p>\n\n<p>The sheer\nmagnitude of environmental destruction however, spurred primarily through\nover-exploitation of natural resources, is compelling organizations to adopt\npolicies that conform to principles of \u201ccircular economy\u201d. Additionally, the\nchallenge lies in finding a way to make circular economy an attractive value\nproposition for small as well as large corporations to seriously consider.<\/p>\n\n<h2 class=\"wp-block-heading\"><strong>Circular Economy: What\u2019s the deal?<\/strong><\/h2>\n\n<p>The term \u2018circular\neconomy\u2019 refers to an economic model that designates waste (generated from use\nof raw materials) as a vital asset in facilitating economic growth and\ndevelopment. By recycling waste to create new multi-purpose products, circular\neconomy ensures to keep products at their highest value for as long as\npossible. <\/p>\n\n<p>In the current linear economic model\nprevalent in the world today, many efficiently manufactured products are\ndiscarded after being used only once. As a result, many companies have\ndeveloped technologies that recover waste, and exploit it for other uses. <\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Many companies have developed technologies that recover waste, and exploit it for other uses. <\/p><\/blockquote>\n\n<h2 class=\"wp-block-heading\"><strong>From plastics to biodegradables: The\nnew frontier<\/strong><\/h2>\n\n<p>Finland\u2019s Neste Corporation\u00a0 \u2013 voted <a href=\"https:\/\/www.forbes.com\/sites\/karstenstrauss\/2019\/01\/22\/the-most-sustainable-companies-in-2019\/\">3<sup>rd<\/sup> most sustainable company in the world in 2019 by Forbes magazine<\/a> \u2013, recently started a development project that converts liquefied waste plastic into high-quality raw material for fuels, chemicals, and new plastics; as it happens, Neste Corporation is already the world\u2019s <a href=\"https:\/\/www.neste.com\/companies\/products\/fossil-fuels\/waste-plastics-replacing-crude-oil\">largest producer of renewable diesel from (plastic) waste<\/a>. <\/p>\n\n<p>On the other end, Kotkamills \u2013 another\nFinnish manufacturer \u2013 are looking beyond plastics by offering a range of\nbiodegradable packaging boxes\/wrappings made entirely from renewable wood\nfibre. Named <a href=\"http:\/\/www.kotkamills.com\/!file\/!id2422\/files\/attachment\/AEGLEFoldingBoxboards-highres.pdf\">Aigle<\/a>,\nthe trademarked line of products can be completely recycled with normal paper\nand board waste. What makes Aigle particularly unique is its use \u2013 and appeal \u2013\nacross the food, cosmetics and pharmaceutical industries. <\/p>\n\n<h2 class=\"wp-block-heading\"><strong>EU Action Plan for a Circular Economy<\/strong><\/h2>\n\n<p>At the regional\nlevel, the European Union Commission adopted <a href=\"http:\/\/ec.europa.eu\/environment\/circular-economy\/pdf\/plastics-strategy-brochure.pdf\">the\nEU Action Plan for a circular economy<\/a> in 2015. There, it identified plastic\nrecycling and reuse a key priority. Evidently, there is an enormous opportunity\nfor businesses to capitalize on this nascent industry that will, one day,\nbecome the dominant economic model in the globalized world. <\/p>\n\n<p>Transitioning towards a fully operational circular economy however will require compliance and commitment from all sectors of society. While its benefits may not be immediate to many businesses at present, adoption of circular economy by larger companies and the profits it ultimately elicits, will coax many to re-valuate their understanding of what constitutes actual \u2018waste\u2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is estimated that approximately 95% of the value\u00a0of plastic packaging material (i.e. \u20ac70 billion \u2013 \u20ac105 billion) is lost to the economy after a very short first-use cycle. Finding a way to salvage the so called \u201cplastic waste\u201d and turning it into a valuable resource however will pay dividends.\u00a0 Resource efficiency and management are [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":6495,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[197],"tags":[],"class_list":["post-6494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sustainability-serv"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trailblazing Circular Economy | Rodinia<\/title>\n<meta name=\"description\" content=\"Transitioning towards a fully operational circular economy will require compliance and commitment from all sectors of society.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rodinia.fi\/en\/trailblazing-circular-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trailblazing Circular Economy | Rodinia\" \/>\n<meta property=\"og:description\" content=\"Transitioning towards a fully operational circular economy will require compliance and commitment from all sectors of society.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rodinia.fi\/en\/trailblazing-circular-economy\/\" \/>\n<meta property=\"og:site_name\" content=\"Rodinia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/rodiniaFI\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-29T12:10:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-09T08:35:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rodinia.fi\/wp-content\/uploads\/2019\/05\/shutterstock_656413702-e1558699224830.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"S. 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