What is the circular economy and why is this so important?
The circular economy is not a new concept, however awareness, understanding and adoption is still very much in the infancy stage. As Australia’s leading engine remanufacturer, we are inspired to build awareness for remanufacturing (one of the 5 circular business models), the circular economy and why this is so important for our future.
Our white paper titled ‘The Circular Economy and How We Fit In’ highlights how the automotive industry can embrace the circular economy principles and business models and outlines 10 ways businesses can become more circular.
There are many significant reasons why a circular economy is beneficial and should be implemented across the automotive industry, with one of the biggest reasons being its ability to reduce CO2 emissions.
We can’t get to zero carbon without a circular economy. The transition to renewable energy can cut about 55% of the Paris Agreement carbon reductions needed and the remaining 45% are locked in products and food. A circular economy will address 45% of global greenhouse gas emissions according to a report by the Ellen MacArthur Foundation and Material Economics.
The automotive industry is well placed to implement circular strategies because automotive businesses can reduce emissions from a vehicle’s production lifecycle to disposal.
Download the PDF version of our white paper ‘The Circular Economy and How We Fit In’ in the link below.
