November 25, 2015
By Rob van den Heuvel
Capitalizing on the significant new business opportunities offered by circular economics can be best realized by developing three key approaches: shifting from asset owning models to service based ones, utilizing the Internet of Things technology to track products and materials and developing strong take back systems.
Circular economics is fast becoming more mainstream than ever. Greater numbers of companies realize there are profits to be made from this new, more sustainable way of doing business. Some manufacturers feared that second- or third-life product streams would cannibalize their regular, new product lines. However, research suggests this is not the case. They tend to provide goods for a different set of customers. The business case for the circular model is going global. Having gained ground in Europe, the interest in circular economics is now spreading across the world including the United States. One reporter captured the mood: “Laptops made of plastic from old laptops. Aluminum car body parts made from old cars. Chemicals leased out, recovered and leased again. These are just a few examples of how the circular economy, once seen as a Scandinavian specialty, is starting to spin in the United States.” READ MORE…