Circularity describes economic, technical, and environmental systems that aim to eliminate waste and maximise the reuse of resources. Circular systems make use of design, recycling, reuse, remanufacturing and refurbishment to create a closed loop system, based on the ideal of preserving ‘virgin’ materials, reducing waste creation and maximising waste reuse.

Closing the loop through the circle of waste has never been more important as the pressure on our landfill, recycling facilities and natural resources continues with ongoing population growth. As countries like China are closing their doors to foreign waste imports, there is a growing sense of urgency to transition away from a linear economy that is nearing its limits.

It’s estimated that over $1 trillion annually could be saved globally by 2025, with the adoption of circular economic practices.

Today, resource scarcity and environmental impacts of waste are growing risks. With potential economic benefits from material savings and job creation opportunities, Government and industry leaders are beginning, and must continue to embrace the challenge of Circularity.

Circularity principles provide an opportunity to reduce operational risk and increase the resilience of an enterprise through switching to renewable energy sources and recycled materials. These changes can provide a hedge against rising prices  and reduce the dependence on raw materials, both which help reduce uncertainty about future resource availability and affordability. Implementation of these principles also reduces the environmental impact of an organisation.

By 2030, Circularity will be the established global benchmark for resource reuse and waste management, much like safety, sustainability and environmental standards are today.