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Return systems: A new business model in itself
A cornerstone in the circular economy is effective return systems that secure used materials and components for recycling. These systems appear in many different shapes in the Sustainia100, but have a common goal of minimizing waste and turning it into a valuable resource to a company. Across the U.S., a novel recycling system is being spread: An eco-ATM. Just like normal ATMs, you go there to get money. But unlike normal ATMs, this machine does not take credit cards. It takes your old tech devices instead. The ecoATMs are put in place across the states, taking old device and compensating the donors in cash. Another example of a very successful return system is I:CO that has created an innovative take-back system for your used jeans, sweaters and footwear. They are deployed in 54 countries and receive 700 tons of used clothing—daily! This material is sorted into 350 different categories that are re-used in the production of new materials, or re-designed as new clothing item. Again, the customer are rewarded with cash for their returned clothes. And I:CO gets a hold of cheap materials that they can re-use. It’s a clear win-win.
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Fashion has an eye out for circles
Trailblazing innovations have been developing the circular economy over the last decades making recycling and waste-reduction easier to deploy and even a profitable part of the business. But not only are the innovations becoming better and smarter, they are also broadening their impact.
Over the last years, we have seen how the circular mindset is being taken up by increasingly more industries. An interesting development here is that solutions for the circular economy are seen outside the expected sectors such as food and waste management. Over the last three years of mapping innovation for the Sustainia100 studies, we have been surprised to see especially one industry showing a new appetite for the circular mindset: The fashion industry.
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With a long history of troubling issues from workers’ right to polluting productions, this industry has a long way to go. However, the first steps are being taken these years. Abundant innovations are now providing the materials, methods and technologies necessary to set new standards throughout the supply chains.
In Holland, Dutch company Mud Jeans has made a business out of leasing jeans and other clothing. The service provides customers the option of keeping, swapping or returning them after use for recycling, however, MUD keeps the ownership of the materials. And in the U.S., denim company Levi’s has along with its suppliers created a water recycling system saving millions of liters by reducing the amount of fresh water used in the finishing process.
Huge savings, new markets, new jobs
In Europe, projections have been made on the potential of circular economy. And the results are interesting. Not just from a sustainability point of view, but also financially.
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An advanced circular economy could generate around $700 billion in materials savings each year in the EU. The savings potential is especially prominent in the fast consumer goods industries, where circularity could yield material a saving of 21.9 percent per year. Building out this industry of circularity has a potential of creating 400,000 jobs in the European Union alone.
Just think how many jobs that would translate to on the U.S. market. This is why we must start thinking in circles across countries and markets.
EcoWatch’s editor Brandon Baker wrote a six-part series on Sustainia100. Here are parts one, two, three, four, five and six.