5 ideas to implement the circular economy in your company

Sustainability has become an imperative for all companies. In the face of increasingly pressing environmental challenges, It is essential to adopt corporate practices that promote the circular economywith the aim of mitigating the negative impacts of activity and promoting more equitable and sustainable development.

The circular economy is committed to a more efficient use of resources, minimization of waste generation and promotion of reuse, recycling and recovery of materials. With this It not only benefits the environmentby reducing resource extraction and CO emissions₂but also new economic opportunities open up, such as job creation in sectors related to waste management and innovation in products and services.

For example, in ENTREPRENEURS we have talked about companies like ScrapAd, a marketplace for the purchase and sale of recyclable materialsor Vico, who connects customers, artisans and furniture makerssimultaneously solving the problem of artisans who have difficulties obtaining raw materials and that of those who own antique furniture that they do not wish to maintain.

In the European Union, work is being done on the development of a legislative framework that promotes the change of the current waste management model towards a circular economy, as stated on the European Parliament website. This is where, for example, the regulations that regulate the so-called ‘right to repair’ are framed.

Definitely, Embracing the circular economy in our company not only responds to ethical and legal imperatives, but can also generate long-term benefits. We must take into account that the circular economy can have an impact on optimization of resources and reduction of operating costs, improvement of corporate reputation or access to new markets and more aware clients.

How to incorporate the circular economy?

Teimas, a company specialized in the development of software for the waste value chain, offers some advice for implementing circular production and consumption models.

1. Preparation for reuse

The first thing to do to implement the circular economy in our companies is to try to identify those wastes that can be destined for preparation for reuse.

Once identified, you must proceed to cleaning, testing or repair, so that they can be prepared to be put back on the market complying with technical and product standards.

“Many companies dedicated to waste management already have authorization to carry out this type of treatment. A good example could be computer equipment,” details the company.

2.Valuation of waste

“The term valuation is used when the Waste generated is used for any purpose that can replace other materials. This includes both material recovery, which maintains or transforms waste, and energy recovery, which uses waste to generate energy, electricity or heat,” explains Teimas.

So that more materials can be used for recovery and remain in the production chain. Correct identification and classification is important in the place where they are generated. This will allow waste that can be recycled or recovered in some way to be separated and distinguished, instead of being eliminated.

3. Boost rental

“If the business allows it, the Rental is a practice that contributes to a more sustainable economy by saving the capital of the purchase, the expense of maintenance, transportation or insurance.”points out the company.

Furthermore, the leasing formula allows replace the concept of consumer with that of user, by applying payment for subscription to a service, instead of offering to purchase the product.

4. Application of ecodesign

“One of the keys to the circular economy is the improvement of products, services or processes Design products whose useful life is as long as possible. Teimas stands out.

“To do this, not only must the product be created from the beginning to last as long as possible, but also It must be easy to repair, recycle and reuse. According to the European Parliament, designing more efficient and sustainable products, from the beginning, would reduce energy and resource consumption, “It is estimated that more than 80% of the environmental impact of a product is determined during the design phase,” the software company points out.

5. Promote technological innovation

Companies can also drive the circular economy through innovation. “When a business redesigns materials or products taking into account their greater durability or the use of recyclable materials, waste is reduced. You can also innovate in industrial processes, trying to generate less waste or more reuse,” notes Teimas.