Circular economy saves more than 700 billion US dollars
Analysis done by the Ellen McArthur Foundation shows that adoption of circular economy solutions could induce savings of more than 700 billion US dollars alone.
Three highlights from the report are:
Household food waste: An income stream of $2.4 billion could be generated annually in the UK alone for municipalities and investors by collecting household food waste and processing it to generate biogas and return nutrients to agricultural soils.
Textiles: Revenue of USD 1,975 per ton of clothing could be generated in the UK if [collected, remade, and] sold at current prices, comfortably outweighing the cost of USD 680 required to collect and sort each ton.
- Packaging: A cost reduction of 20 per cent per hectoliter of beer sold to consumers would be possible across all markets by shifting from disposable to reusable glass bottles, which would lower the cost of packaging, processing, and distribution .
Not only could it save money but it also creates new jobs in the form of innovations and new methods of thinking and processing.