Circular economy
significant contributor to the challenges of climate change, biodiversity loss, waste generation and pollution.
As a consequence of the realisation of the impending resource scarcity, existential threat due to adverse impacts of increasing temperature of planet earth and climate change, circular economy is emerging as a solution for sustainable development.
Population and usages of resources are interdependent and proportionally co-related. Judicious use of resources would lead to mitigating resource depletion and thereby fostering a more sustainable environment for future generation. It is estimated that by 2050 world population will soar to 9 billion and fulfilling the demand will require natural resources equivalent to three earths. The present prevailing model of usages of resources is linear economy which is based on the principles of ‘take-make-waste’ and is unable to manage the balance of demand and supply with growing population and depleting resources. It is also significant contributor to the challenges of climate change, biodiversity loss, waste generation and pollution.
As a consequence of the realisation of the impending resource scarcity, existential threat due to adverse impacts of increasing temperature of planet earth and climate change, circular economy is emerging as a solution for sustainable development.