Experts Say Embracing Circular Economy Practices in Australia Offers a Range of Benefits
The benefits of a circular economy range from rescuing waste from landfill and lowering carbon emissions to adding billions of dollars to GDP and creating thousands of new jobs
MELBOURNE, Australia, November 7, 2022 (Newswire.com) - According to Waste Sense, provider of independent and cost-effective waste management services Melbourne-wide, embracing a circular economy in Australia involves transitioning the way materials are dealt with to effectively eliminate waste.
Waste Sense explains that circularity not only helps to regenerate nature and local communities, but it also creates new business opportunities through re-valuing materials and extending the life of products. The potential benefit to Australia runs into billions in increased value to GDP.
Recent research commissioned by the CSIRO suggests the benefit to the Australian economy by 2025 is at $23 billion and by 2050, that value increases to 200 billion in additional value to GDP as well as the creation of 17,000 new jobs.
To transition to a circular economy, Waste Sense says businesses need to have a better understanding of the vast quantities of materials that are passing through their supply and value chain ecosystems. The current amount of resources that are being over-consumed when those materials are becoming scarce poses a threat to business resilience and long-term viability.
While there is currently no national circular economy strategy in place, the NSW and Victorian governments have recently developed their own policies that go some way towards enacting a transition. Waste Sense explains that the focus needs to not just be on waste and sustainability though as the concept of a circular economy involves a radical transformation of the whole economy.
Waste Sense suggests education programs can be used to tackle some of the biggest social concerns to motivate people to shift away from the "take-make-waste" paradigm that currently exists. Customers hold a lot of power in their purchasing choices and they can purchase less and reuse more to support the circular economy.
Helping businesses make sense of their waste needs, Waste Sense has the capability to handle all waste needs, no matter how diverse. Saving businesses time, effort and money, the leaders in waste management Melbourne-wide deliver solutions that are tailored to a business and their industry, based on waste type, volume and compliance.
To learn more, contact Waste Sense.
Source: Waste Sense