Primer: Support the Circular Economy

For those that are unfamiliar with the concept, a circular economy is one in which businesses adopt strategies to reuse resources as much as possible, thereby reducing waste. This is an alternative to the traditional linear economy, in which resources are used once or twice and then disposed of.

As we move forward, I think that it is very important to support businesses that have adopted circular concepts into their business models. It can be expensive for these businesses adopt these strategies, so it is important to show our continuous support so that they can thrive and spread their knowledge to all corners of the market. Moreover, if we support businesses with circular habits it can potentially reduce the amount of revenue that linear businesses take in and may encourage them to adopt circular practices.

Picture from Wharton.

A couple of large companies that you have most likely heard of – Ikea and Unilever – have both adopted principles of the circular economy and are continuing to thrive in Canada. Although they might not be small businesses, it is even more important for large companies like Ikea and Unilever to adopt circular practices. The way in which any company/business, large or small, decides to operate can have a huge impact on our resources and environment. The next time you go shopping, consider who you buy your products from and what kind of business they are – linear or circular?

Joshua Balak
Advocacy Team Volunteer

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s