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The Circular Economy: Redesigning our Planet’s Future

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Think about the last item you threw away. Did you consider where that product ended up, once you threw it away?

The Earth’s growing waste problem can be traced back to a culture that treats virtually every item we buy and own as disposable. Rapid urbanisation, population growth, and industrialisation are key contributors to the burgeoning volumes of waste that humans are producing each year.

But what if there was away to get around that?

Introducing the Circular Economy

Today’s post from BlackRock highlights the key benefits of adopting a circular economy, and examines the factors that will make the biggest impact in the years to come.

Circular Economy

A Culture of Consumption

Mass production is making products cheaper, more readily available, and more readily disposable, bringing levels of material comfort unimaginable to previous generations.

Companies are making new products at a frenetic pace to keep up with global demand─consuming finite resources as if the Earth had an infinite supply.

The intense effects of this mass consumption are visible across multiple industries:

  • Construction: Construction waste alone is expected to reach 2.2 billion tonnes annually by 2025.
  • Fast Fashion: Roughly 87% of clothing is discarded or burned each year, costing US$100 billion.
  • Plastics: Over 95% of plastic packaging value is wasted every year, costing up to US$120 billion.

As natural resources decline and waste continues to pile up, our society is at a crossroads.

A Tale of Two Economies

Today, most of the world follows the Take-Make-Waste practices of the linear economy, with little regard for future use of these resources and products. Unfortunately, most of this ends up in landfills─by 2050, we could be producing 3.4 billion tonnes of waste each year.

The circular economy, by contrast, is focused on redesigning our systems, processes, and products to enable goods to be used longer, repurposed, or recycled more efficiently.

The circular economy is a major transformational force that will last decades…investors are increasingly considering sustainability factors when making investment decisions.

—BlackRock

Companies and governments that choose to adopt a circular economic model could end up saving €600 billion (US$663 billion) annually─and potentially add €1.8 trillion (US$2 trillion) in additional benefits to Europe’s overall economy.

Designing a Better Future

Three major factors are driving the gradual, global shift to a circular economy.

  1. Economic

    Companies will need to switch from wasteful to sustainable practices, and many are taking steps towards a better future. The New Plastics Economy Global Commitment was signed in 2018 by over 400 organisations to eliminate plastic waste and pollution.

  2. Regulatory

    Regulations such as bans on single-use plastics and international waste imports are growing more stringent, and some governments are also offering tax incentives for corporations that follow sustainable practices.

  3. Society

    More consumers are actively researching and questioning the impacts of the products they buy, and consumer demand is showing a preference for reusable products and practices.

While few public companies today are actively using a circular economy, several major brands are leading the way in sustainable business practices.

  • Philips: Light-as-a-service that provides access to lighting rather than ownership of lightbulbs
  • Levi Strauss: Repurposing old garments into building insulation, upholstery, and new clothing
  • Toshiba: First multi-function printer, heat-sensitive erasable toner can do up to five reprints per page
  • Renault: Revamped old vehicle drive trains, engines, and gearboxes to almost-new condition

Companies and governments in the circular economy have a structural advantage to solve some of the world’s biggest economic issues ─ giving them a strong, long-term market for goods and services, the potential to lower costs, and open profitable new business streams.

Lasting Impact on People, Planet, and Profit

In order for the circular economic model to achieve widespread adoption, both sustainable investment and partnerships across sectors are needed.

This rally for change is making an impact on financial markets─sustainable investments around the world grew from US$13.3 trillion in 2012 to US$30.7 trillion in 2018.

Healthy economies rely on a healthy environment, and building a circular economy is integral to the future health of our economy, planet, and society.

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40 Years of U.S. Wildfires, in One Chart

Wildfires are blazing across the U.S with unprecedented intensity. Here is how activity has evolved over four decades.

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The following content is sponsored by Carbon Streaming

Note: This infographic contains forward looking information based on current expectations and beliefs of Carbon Streaming Corporation. For further information about the risks, uncertainties and assumptions related to such forward looking information, please see their legal notice.

40 Years of U.S. Wildfires, in One Chart

Wildfires are becoming more intense and widespread—largely due to rising temperatures caused by climate change. 

What’s more, experts predict a whopping 50% surge in wildfires by 2100.

We partnered with Carbon Streaming to illustrate four decades (1983–2023) of wildfire activity in the U.S. Let’s dive in.

The Evolution of Wildfires Over Time

The data we used comes from the National Interagency Fire Center and highlights the number of wildfires that occurred between 1983 and 2023, along with the average acres burned over the same time period. The 5-year rolling average was calculated based on the current year plus the preceding four years.

As the table below shows, the total area burned across the U.S. in 2023 was significantly below average, and the number of wildfires was slightly below average due in part to cooler weather conditions.

YearNumber of WildfiresAcres Burned 5-Year Rolling Average
202356,5802,693,9106,436,687
202268,9887,577,1837,651,404
202158,9857,125,6438,141,184
202058,95010,122,3367,818,055
201950,4774,664,3647,818,617
201858,0838,767,4927,604,867
201771,49910,026,0866,715,278
201667,7435,509,9956,575,308
201568,15110,125,1497,215,583
201463,3123,595,6135,875,098
201347,5794,319,5466,340,332
201267,7749,326,2386,534,917
201174,1268,711,3676,535,278
201071,9713,422,7246,767,754
200978,7925,921,7867,821,087
200878,9795,292,4688,256,305
200785,7059,328,0457,989,980
200696,3859,873,7457,561,314
200566,7538,689,3896,300,747
200465,4618,097,880*6,041,568
200363,6293,960,8425,547,210
200273,4577,184,7125,020,983
200184,0793,570,9114,155,432
200092,2507,393,4934,654,449
199992,4875,626,0933,543,860
199881,0431,329,7043,233,357
199766,1962,856,9593,326,931
199696,3636,065,9983,169,525
199582,2341,840,5462,547,041
199479,1074,073,5793,103,256
199358,8101,797,5742,654,002
199287,3942,069,9293,296,346
199175,7542,953,5783,371,819
199066,4814,621,6213,324,936
198948,9491,827,3102,979,841
198872,7505,009,2902,844,061
198771,3002,447,2962,106,936
198685,9072,719,162N/A
198582,5912,896,147N/A
198420,4931,148,409N/A
198318,2291,323,666N/A

*2004 fires and acres do not include state lands for North Carolina

What’s the impact of the increasing burned areas and severity of wildfires over time? 

Simply put, when wildfires burn, they release smoke and gas into the air which makes the Earth warmer, making it easier for more wildfires to start and spread. This cycle is often referred to as the fires and climate feedback loop, and is the reason why experts believe that wildfires will only continue to worsen.

Wildfire Havoc in the West

2023 marked a year of severe wildfire destruction on the West Coast and in Hawaii. The Maui wildfires in August, for example, led to the destruction of 2,308 structures and at time of writing, 5,000 residents are still displaced six months later. Additionally, the cost of rebuilding Maui could exceed $5 billion and take several years.

Post-wildfire restoration is a critical piece of climate change mitigation, particularly in the states that need it the most. 

What Can Be Done?

In partnership with Mast Reforestation, Carbon Streaming is advancing its pipeline of post-wildfire reforestation projects in Western U.S. states. 

To date, Carbon Streaming has entered into carbon credit streams to provide funding for three reforestation projects—Sheep Creek in Montana and Feather River and Baccala Ranch in California.

Mast Reforestation’s unique approach combines proven reforestation practices with new technology to regrow resilient, climate-adapted forests. Want to know more?

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