Adapt circularity in your business

High start-up costs are sometimes the biggest obstacle, but there are still others to go beyond. Nevertheless, participating in the circular economy ultimately pays off, largely because reusing resources and goods just makes sense! According to a Bain & Company survey from 2021, over 33% of CEOs expect that circular start-ups would disrupt their industry and 50% of them expect that circularity will replace traditional business practices in the next ten years. [2]

The secret to efficiently adapting circularity is to make sure that all company’s adjustments take future factors into account while still meeting immediate needs. Several tips and circular economy frameworks have been developed worldwide by organizations which decided to do so. Let’s have a look in some of them!

Neste is the world leader in the production of renewable diesel, sustainable aviation fuel, and feedstock alternatives for the polymer and chemical industries and gives the following 6 tips to businesses to become circular[3].

Looking closer to the 6 tips during design phase a company should think about “how” designs, prolong the life of the used materials and find ways to return waste back into the supply chain. Circularity is not about dramatic changes which are of a high risk for a company. Instead small changes related to circularity in the manufacturing process will minimize potential disruptions in production and also protect company’s profitability. Making a lifecycle assessment of the product before production is also crucial as it allows to select the proper materials and also think about alternative uses of the waste products in order to put them back into the supply chain. Finally sustainable values and goals are very important for a company as business culture is the first thing should be considered towards circularity and also a driver for future partnerships[3].