An estimated £474 million of annual economic opportunities have been identified for Northern Ireland from a circular economy. We have established a programme of work to support organisations in the transition to a circular approach, through networks, events and resources.
The traditional, or linear, economic system has largely been based on the process of taking raw materials from the earth, using them to make products which are bought and used by consumers, before the product is disposed of at the end of its useful life. Resource efficiency measures seek to reduce the amount of resources (materials, water, energy, etc) needed to make each product, and reduce the amount of waste created at the end of the product’s life by recycling materials, (accepting that there may be some loss of quality).
In contrast, the circular economy is a generic term for a regenerative economic system in which resources (materials, water, energy, etc) and the value provided by them are retained within the system. This is done, both in the ‘making’ and ‘using’ parts of the process, using innovative methods to maximise first-time use and subsequent uses of the material.
What is Business in the Community doing?
We have established a programme of work to support organisations in the transition to a circular economy, through networks, events and resources.