The Value of the Circular Economy Concept in Achieving Sustainable DevelopmentStudent\u2019s Name<\/p>\n
Course Code and Number<\/p>\n
Instructor\u2019s Name<\/p>\n
Date of Submission<\/p>\n
Introduction<\/p>\n
The circular economy has turned out to be a feasible replacement to the unfeasible linear\u00a0status quo when it comes to responding to the worldwide difficulties of the twenty-first century. Rather than being depleted, materials are restored in a system that is both constant and long-running, with the purpose of ensuring that they continue to function at their maximum\u00a0capability. When a product is used, rather than losing its worth, it is repurposed or recycled several times to ensure that it retains its value in the long run. Entrepreneurs will require new business strategies as well as inventive product development that take utilizes\u00a0non-toxic materials that have the potential of being\u00a0recycled indefinitely in order to achieve this goal. Prosperity and wealth are transferred from the current modes of consumerism to a system that is both constant\u00a0and long-term in nature within the circular economy. It is a system that is designed to be cyclical in nature, where the wants of all individuals are met through the use of the world’s natural resources. The main aim of this paper is assessing the value of the circular economy concept in achieving sustainable development. Taking the case of China, the paper will evaluate how far and to what extent circular economy has achieved towards sustainable development goals (SDG).<\/p>\n
Principles For a Sustainable Circular Economy<\/p>\n
As Kirchherr et al. (2017) demonstrates, there have been\u00a0many definitions of circular economy as there are\u00a0circular economy academics, hence making\u00a0it difficult to pin down a single definition of circular economy. The pursuit of more efficient resource utilization is, perhaps, the single thing that all interpretations have in common, but the concept of “better” is still up for debate (Velenturf & Purnell, 2021). Although it is obvious that the worldwide\u00a0exhaustion of natural resources\u00a0and accompanying GHG (greenhouse gas) emissions are continuing to intensify, piles of waste and related emissions are still accumulating as demonstrated by Velenturf and Purnell, (2017), it is also rational that a CE concept could perhaps seek to minimize the exploitation of natural resource and maximize waste prevention in order to achieve greater sustainability. Although depletion and environmental damage pose significant dangers to the long-term sustainability of an environment conducive to the survival of the species, circular economy\u00a0must aim to reinstate and revitalize the environment by making a contribution to sustainability from a whole-system standpoint by optimizing the economic, technical, social, and environmental values of products and materials in societal structure.<\/p>\n
The Presently Proposed Circular Economy Concept<\/p>\n
The present circular economy concept formulated by the business world is provided in the figure below. <\/p>\n
The present circular economy concept<\/p>\n
The CE concept\u00a0message is that the inner circles of the figure, which represent reuse of products, remanufacturing, and refurbishing, consume less resources and energy while being cost-effective in comparison to\u00a0typical recycling process as inferior-grade raw materials. As Korhonen, Honkasalo and Sepp\u00e4l\u00e4 (2018) points out, it is important to optimize the amount of time the value of the resources lives in the inner circles. First and foremost, materials must be salvaged for repurposing, refurbishing, and repair, followed by remanufacturing, and only subsequently should they be recovered for raw material utilisation, which has traditionally been the primary objective of recycling (Van Kruchten & Van Eijk, 2020). In the standpoint of CE, combustion for power ought to be the second to last alternative choice, with landfill disposal being the final alternative. Thus, the commodity value chain as well as life cycle preserve the absolute highest quality and value for the longest possible period of time while also being as energy efficient as is reasonably practical.<\/p>\n
The use of the value produced for as long as possible ends up making business and economic sense the moment\u00a0a raw material has been obtained, refined, and manufactured at the regular expenses. This means keeping the product value and service in economic circulation for as long as it lasts is a good way to maximize profits. When contrasted to the usual linear status quo and energy flow paradigm of the present universal\u00a0economic system, this frequently leads to environmental improvements as well. In contrast to the traditional waste and by-product consumption and recycling methods, the CE concept emphasizes the usage of the value ingrained in raw material, thus extending the reach of traditional waste and by-product usage and recycling methods. Additionally, it contributes to conventional regeneration, which typically recycles items in their raw form, that is, in applications when a significant portion of their monetary worth has already been depreciated.<\/p>\n
Circular Economy Concept Contribution to SDGs <\/p>\n
The CE is crucial to the global sustainability agenda pushed by international agencies such as the United Nations and has the potential to contribute to a number of sustainable development goals (SDGs). The CE is definitely focused on SDG 12 and its implementation relating to the accountability in consumption and production (Heshmati, 2017). Yet, due to its wide reach, it also links to SDG 2 (ending hunger as evidenced in Italy (Principato et al., 2019)), which will be attained via sustainable and responsible food production, SDG 6 (availing clean water), SDG 7 (availing clean and affordable energy), SDG 13 (addressing climate change), and SDG 15 (life on land) (Van Kruchten & Van Eijk, 2020). These are all goals that a CE may help achieve. Certain sub-targets of the SDGs can also be linked to the CE concept. For example, CE advocates for prolonged material usage, resource efficiency, and redesign (Rodriguez-Anton et al., 2019). Ultimately, the CE concept is specifically designed to achieve goals that are consistent with the SDGs to ensure an environmental conscious world in the future.<\/p>\n
The ultimate objectives of the sustainable development\u00a0are inclusive of prospering lives and livelihoods, enhancing the security of food\u00a0and water, global access to renewable\u00a0energy, a\u00a0productive ecosystem, as well as the development of sustainable societies, among other things. Part of the Sustainable Development Goals (SDGs) can be achieved through the adoption of CE\u00a0that benefit the economy, society, and the\u00a0environment as a whole\u00a0while also promoting the well-being of\u00a0human race\u00a0for both current and future generations (Schroeder, Anggraeni, & Weber, 2019). The conventional economy\u00a0development is heavily reliant on the environment and the economy in general. Higher resource efficiencies, resource regeneration, and the use of renewable resources are being advocated in industrial hubs throughout the globe, such as China, in order to decouple economic development from the environment and natural resources.<\/p>\n
Resource Efficiency Enhancement<\/p>\n
Recently, the circular economy has gained in popularity as a means of addressing some of the world’s most pressing sustainable development concerns, including climate change. One of the most promising parts of the circular economy concept is its emphasis on avoiding waste and pollution from being created in the first place, as well as on reusing and rebuilding natural systems once they have been destroyed. The circular economy is a critical component of the global effort to accomplish the goals of the Paris Agreement (Heshmati, 2017), and it is being promoted as such. Reduced waste, reduced consumption, and the restoration of natural capital are all proclaimed aims of the circular economy, and they are all achievable. Financial resources are also required to aid in the development of these new business models and concepts, which are now in development.<\/p>\n
Higher efficiencies in\u00a0resource utilization implies that a greater\u00a0GDP can indeed be produced with fewer resources, raw materials, and energy inputs. In broad sense, resource productivity has increased remarkably since 2005, as evidenced by improvements in the efficiency of mineral resources, energy, and water (Berndtsson, 2015). On the basis of product value, it has been confirmed that a ton of coal can generate 12.4 thousand RMB in 2010, compared with a ton of coal generating 10 thousand RMB in 2005. Over the period 2005-2010, the intensity of water use extended by 59 percent, and it is anticipated to rise even further in the next coming decades. It has also been observed that there has been a significant improvement in efficiency of energy consumption. The amount of energy needed to generate 10,000 RMB in gross domestic product reduced\u00a0to 0.76 tons of coal from 1.22 tons of coal.<\/p>\n
Achievement in Resource Comprehensive Utilization<\/p>\n
Because of the paucity of natural resources, the cost of basic energy, raw materials, and natural resources continues to rise. Sustainable resource conservation, resource comprehensive use, and renewable resource regeneration are all potential solutions to the increasing manufacturing cost. Those strategies have the potential to reduce the amount of raw materials and fundamental resources required. In particular, the rapid expansion of extensive resource usage, encompassing mineral resources, waste, and renewable resources, is the most significant direct impact of adopting circular economy. Since 2005, the complete usage rate\u00a0of entire\u00a0resources has increased at an annual rate of 1 percent, with the highest increase occurring in 2013. (The State Council, 2013). The development of extensive resource usage resulted in the reduction of approximately 6700 hectares of land for the storage of waste material. Comparing with utilizing fundamental\u00a0resources, it is approximated that the use of renewable resources like steel and non-ferrous materials could save 0.25 billion tons of coal annually, as well as decrease\u00a0waste water discharge by 17 billion tons, carbon pollution by 0.6 billion tons, and\u00a0generation of solid\u00a0waste by\u00a05 billion tons\u00a0(NDRC, 2014). 3.8 million tons of oil and more than 220 thousand hectares of agricultural land were spared as a result of the recycling of waste textile.<\/p>\n
Renewable Resource Recycling<\/p>\n
Three components of resource extensive use and recycling of renewable resources are expressed in the benefits of resource comprehensive utilization. As a preliminary step, circular economy advocates for the use of 30 by-products and waste, as well as renewable resources, in place of basic energy and resources (Heshmati, 2017). People will be able to extract less resources from the environment, such as minerals, timber, and fossil fuels, as a result of which less destruction will be made to the ecosystem (Corona et al., 2019). Second, the remanufacturing of metals, like steel and non-ferrous materials, may cut down\u00a0the amount of coal needed in the processing of metallic materials, and as a result, can contribute to the minimization\u00a0of carbon dioxide emissions. Third, by repurposing waste and by-products as resources, reduced solid waste is generated, which reduces the amount of solid trash that must be disposed of. If industrial waste material\u00a0is not properly disposed of, it will contaminate the soil, water, and air, posing a health risk. As a result, the circular economy contributes to the enhancement of the practices to manage waste. It has also been mentioned previously that land for the rehabilitation of solid waste has been spared, which will help to reduce the cities’\u00a0land burden. As a whole, these advantages are critical in the development of cities that are inclusive, secure, resilient, and environmentally sustainable.<\/p>\n
Water and Carbon Recycling<\/p>\n
The reuse of wastewater is also advocated, in conjunction to its disposal. Each year,\u00a0large quantities\u00a0of water are consumed by industrial activities, exacerbating the already severe water scarcity concerns (Mathews & Tan, 2016). The recycling and reuse of\u00a0water has the potential to significantly cut down\u00a0the exploitation of water resources. According to some estimates, the yearly rate of recycling\u00a0mine water reached 62 percent between 2010 and 2013, and the yearly recycling quantity of mine water exceeded 6 billion tons m3 over this time span (NDRC, 2014; Centeno & Portillo, 2018). Wastewater reuse can also help to reduce the amount of polluted water that is released into surface water systems and aquifers, which can contribute to promote water security up to a specific degree. As of 2013, the CO2 recycling capability had increased to approximately 10 million tons, which is more than quadruple the carbon recycling capability in 2000. (NDRC, 2014). The average carbon pollution\u00a0was 7.2 billion tons in 2010, and it is expected to continue to rise (United Nations, 2016). As a result, it is anticipated that carbon recycling can decrease carbon dioxide emissions by 0.1 percent annually. If carbon recycling can be pushed even further, it is feasible to realize more success in reducing carbon dioxide emissions.<\/p>\n
Agricultural and Forestry Waste Recycling<\/p>\n
Forestry and agricultural waste are as well entailed. The circular economy development model, as well as the latest plan of action, establish unequivocally that the state mission of changing agriculture into a circular mode is a national priority (The State Council, 2013). In 2013, more than 600 million tons of straw were utilized in its entirety, representing for 77.1 percent of total straw production in the year. A total of 95 percent of the forestry waste was utilized, with the majority of it being utilized in biomass energy and making of paper. More than 40% of the livestock manure was recycled to produce methane, which is a greenhouse gas.<\/p>\n
Constraints and Limitations of the CE Concept<\/p>\n
Other than the fact that the circular economy concept its still in its infancy stages, there are several limitations and constraints that slows down its implementation. There are several aspects to these challenges and constraints, including a poor information system, a lack of advanced technology, poor economic bonuses, a lack of legislative enforcement capacity, infantile management, an incomplete system for performance evaluation, and a lack of public awareness.<\/p>\n
Conclusion <\/p>\n
CE appears to be a promising approach since it has been successful in attracting the attention of the corporate community to support\u00a0sustainable development. When one harvest a resource from environment and work\u00a0to transform it into a service or commodity\u00a0with a commercial benefit, it is natural sense to expect to be able to utilize\u00a0that value on a number of occasions rather than just once. This is very logical from a commercial standpoint. It is also straightforward and logical to make an argument that by utilizing the value ingrained in resources multiple times, rather than just once as is commonly done in the linear material flow pattern of the financial system, one can reduce the amount of virgin input as well as the amount of waste and emissions produced by the business activity.<\/p>\n
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