The Business Benefits of the Circular Economy
Vancouver, September 14, 2015 – A series of case studies demonstrates how a new way of doing business – the circular economy – benefits businesses, customers, and the environment when compared to the linear economy model.
The findings of the case studies, produced by the National Zero Waste Council’s Circular Economy Working Group in collaboration with the BC Ministry of Environment, will be featured at a Metro Vancouver Sustainability Community Breakfast on September 16 at the BC Institute of Technology’s downtown campus.
“These case studies showcase the circular economy in action,” said Malcolm Brodie, Chair of the National Zero Waste Council and Metro Vancouver’s Zero Waste Committee.
“The profiled examples demystify the concept of the circular economy, and illustrate the tangible benefits of this new way of doing business.”
The case studies profile businesses that demonstrate five circular economy business models:
- Circular Supplies – Providing renewable energy, bio-based or fully recyclable materials.
- Resource Recovery – Recovering useful resources or energy from by-products or waste.
- Product Life Extension – Extending the lifecycle of products and components by repairing, upgrading, and reselling.
- Sharing Platforms – Maximizing the use of products through shared use, access or ownership.
- Product as a Service – Offering product access rather than ownership.
The businesses profiled all meet existing customer needs in new ways. Their products and services are price-competitive, and each business has explicit environmental intentions alongside their commercial goals.
“The circular economy offers advantages to businesses such as retaining employees, enhancing brand trust, creating partnership opportunities, and attracting government support,” said Brock Macdonald, Executive Director of the Recycling Council of BC and Co-Lead of the Circular Economy Working Group.
“More importantly, it provides a business model that is economically and environmentally sustainable in the long term.”
The Circular Economy Working Group includes leaders from business, academia, and government. They will next develop a network of businesses interested in working together to advance the circular economy in Canada.
The National Zero Waste Council was founded by Metro Vancouver in collaboration with the Federation of Canadian Municipalities in October 2013 to advocate for and collaborate on a waste prevention agenda in Canada
Metro Vancouver Sustainability Community Breakfast
September 16, 7:30 a.m. to 9:00 a.m. BCIT downtown campus, 555 Seymour Street