Understanding Circular Economy For Plastics: The Process And Benefits

Plastics can be found anywhere in the world. Its durability, strength, and flexibility have made it an indispensable component of several billion products, leading to a vast increase in global consumption and usage. A great solution to battle this dependence and reliance on plastic is a circular economy.

Environmental enthusiast and business loan provider Shane Perry of Max Funding explained Circular Economy as “an economic system that highlights regenerative and restorative by design. It aims to create an environment wherein materials consistently flow in a closed-loop system rather than the used-once-then-discard setup. It is all about reusing scrapped bottles into whole new bottles for the same market.”

Having a circular economy for plastic is vital to ensure that plastic usage is reduced and lessened to better the environment. The transition, however, is not easy. It would be best to know about the process and the benefits this change can bring to convince the public.

The Process

A circular economy requires a combination of both redesigning and innovation in terms of materials, reprocessing technologies, business models, and packaging designs. Compostable plastic packaging does not offer a blanket solution. Instead, it has a more specific and targeted application.

Three actions are required to achieve the visions of a circular economy:

  1. Eliminate all problematic plastic items
  2. Innovate to ensure that all plastics are recyclable, reusable, and compostable
  3. Circulate the plastic to keep them in the economy and not in the environment

The Benefits

Plastics are lightweight, durable, and highly versatile in colour, shape, and touch, which gives them a tremendous marketing advantage. The problem with plastic is that many are single-use packaging waste that lasts for thousands of years.

One practical approach to reducing single-use plastic waste is by transitioning to a circular economy. Here are some of what a circular economy can offer:

1. Eliminates Unnecessary Plastics

Plastic makes up a large portion of marine debris around the world. A circular economy can help eliminate all these unnecessary and problematic plastics. Furthermore, it unleashes several potential benefits for biodiversity and human health.

2. Reduces Greenhouse Emissions

Shifting from standard virgin materials to renewable or recycled materials to make plastic can decrease greenhouse gas emissions. It also reduces the dependence on finite fossil resources.

3. Plastics Are Reused And Recycled

The main goal of a circular economy is to stop the single-use plastic system. Its primary vision is to reuse and recycle plastic for more positive biodiversity, environment, and human health.

4. Other Benefits

Other advantages of a circular economy are reducing pressure on the environment, increasing competitiveness, creating jobs, improving the security of raw materials supply, and boosting economic growth. Also, consumers are given more innovative and durable products that increase the quality of life and save them money in the long run.  

Plastic’s New Normal To A Sustainable Future

A single-use plastic system is a huge problem that requires a more prominent solution. A circular economy offers a promising vision to control this humongous tide of plastic. Unfortunately, converting this aspiration to an actual functioning system requires great effort and cooperation.