The idea of a circular economy has been a hot topic for a number of years now. According to a group of circular economy investors at GreenBiz, 2017 is the year of the circular economy revolution. Now that all of the planning and creation of green financing ideas is in place, now is the time for action. We need to recognize the synergies between the private sector and the UN’s Sustainable Developmental Goals. We need a new, circular system that embraces the positive feedback of consumer-driven patterns, but limits the waste from continually increasing resource and material consumption.
Because of the election of Donald Trump, most policy for circular economy changes will be coming from state and local governments, instead of from the Federal level. Towns and communities from all over the country have lined up to take part in this initiative. Another major addition to a circular economy is coming in the form of a dynamic shift in manufacturing to focus more on the recycling and reusing of materials. Now companies are maintaining systems and products, rather than throwing them out.
As with many advancements in our country’s history, entrepreneurs will lead the way in growing a circular economy. Many companies are being created that focus on the refurbishment and recycling of existing to products, as well as improving waste and saving on production costs. Above all, major cities and corporations will have to lead the way to create a collective action of green ideas and initiatives.
The circular economy is a system of great potential for economic, social, and environmental progress. But to start on the path to success, we need brave leaders to understand how the circular economy expands the core business model and take actions where their impact will be maximized.
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