Circular Economy- A way to Sustainability
“Paris or no Paris, it is our conviction that we have no right to snatch from our future generations, their right to have clean and beautiful earth. It is part of our thinking and for that reason, we do not believe in exploitation of the nature. We people do not have the right to take more than necessary from nature.” — Honorable Prime Minister of India, Shri Narendra Modi at St Petersburg International Economic Forum, 2017
Traditional use of raw materials, energy sources, and industrial processes produce excessive waste. Circular Economy is connected with sustainable development. It is a system of resource utilization where reduction, reuse, and recycling of materials prevails, cutting down waste to a minimum, and with the use of biodegradable products recycle the rejected products back to the environment. In short, goods at the end of their service life are treated as resources for others, closing loops in industrial ecosystems, minimizing waste, and following sustainable methods.
In the last decades, many national and international companies followed research on Circular Economy and incorporated projects related to the best practices of the circular economy. The scientific literature contains a large number of best practices of commercial enterprises and businesses or research groups in industrial countries. The majority of practices are useful models to recycle and reuse materials for the same or new products, reducing energy use, and offering a drastic reduction of waste.
The textile sector, the clothing sector, and the durable goods sector (electrical, electronic, carpets, furniture, etc) have advanced some interesting examples of the circular economy.
The government of India is actively formulating policies and promoting projects that are leveraging advanced IT and OT solutions to drive the country towards a circular economy system. Two such critical areas are electricity from recyclable resources and waste.
To meet this surging demand for power through conventional non-recyclable resources is unviable, unsustainable, and disastrous for the environment. Therefore, the government is aggressively pursuing power generation through the abundant solar power in the country and from the huge stash of solid waste that is daily generated in the urban areas with a low carbon footprint circular economy.
Similarly, another big component of a circular economy is waste management. Through the government’s ‘Swachh Bharat’ initiative, individuals, residential societies, and commercial as well as educational institutions are now segregating waste into green and dry waste. The green waste is converted into compost that enriches the soil and the dry or solid waste has the potential to reuse and recycle. It is estimated that India produces some 1.40 lakh tonnes of municipal solid waste a day, which has the potential of generating over 46 million units, equivalent to an installed capacity of 200 MW.
It is estimated that a circular economy path adopted by India could bring in annual benefits of 40 lakh crores or approximately US$ 624 billion in 2050. The greenhouse emission would reduce by 44% along with a significant reduction in congestion and pollution.
Contributed by- Siddharth Jangid, Content Writer @ Mitti Ke Rang
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