CIRCULAR ECONOMY
What is Circular Economy?
The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing refurbishing and recycling existing materials and products as long as possible
This is a departure from the traditional, linear economic model, which is based on a take make-
consume-throw away pattern
It relies on large quantities of cheap, easily accessible materials and energy
Need for a Circular Economy
Rise in consumerism
High resource demand
Import dependence
Waste creation
Benefits of a Circular Economy
Fewer Greenhouse Gas Emissions
Fewer Negative Externalities
Increased Potential for Economic Growth
Employment Growth
Volatility Reduction and Safeguarded Supplies
Way Ahead
Need for Legislation to promote the circular economy
Policies like Zero Effect, Zero Defect in manufacturing stage, National Electricity Mobility Mission Plan
extensive collaborative efforts between key stakeholders, including regulators, policy makers, corporates, and financial institutions
Adequate financing needed for realization of these newer opportunities through innovative financing instruments, such as Green bonds, municipal bonds, SDG-aligned bonds