More than 100 billion tons of resources enter the economy every year — everything from metals, minerals and fossil fuels to organic materials from plants and animals. Just 8.6 percent gets recycled and used again. Use of resources has tripled (automatic PDF download) since 1970 and could double again by 2050 if business continues as usual. We would need 1.5 Earths to sustainably support our current resource use.

This rampant consumption has devastating effects for humans, wildlife and the planet. It is more urgent than ever to shift from linear, use-it-up-and-throw-it-away models to a circular economy: where waste and pollution are designed out, products and materials are kept in use for longer, and natural systems can regenerate.

A circular economy isn’t just about fixing environmental wrongs, though: Evidence shows it can bring big opportunities and positive impacts across industries, sectors and lives.

A growing number of businesses, governments and civil society organizations are coming together to drive the change through the Platform for Accelerating the Circular Economy (PACE). More than 200 experts from 100 organizations helped develop the Circular Economy Action Agenda, a set of publications that analyze the potential impact and call for action across five key sectors: plastics, textiles, electronics, food and capital equipment (machinery and large tools such as medical scanners, agricultural equipment and manufacturing infrastructure). The Action Agenda demonstrates five opportunities associated with the shift to a circular economy:

  1. Make better use of finite resources
  2. Reduce emissions
  3. Protect human health and biodiversity
  4. Boost economies
  5. Create more and better jobs

Of course, there are always trade-offs to be considered and managed when working towards large-scale, systemic change. For example, shifting to bio-based plastics and natural, recyclable textiles such as cotton will use less fossil fuels than traditional plastics or synthetic fibers, but may increase demands for land and water to grow such materials. Shifting to natural materials is a crucial part of the solution, but only if those materials are produced in a sustainable way — and only if consumption habits change, too.

Read the full article about a circular economy by David McGinty at GreenBiz.