Is Circular Economy the Next Big Thing for Businesses?

Currently, more and more organizations are implementing the circular economy, given the negative impact the textile industry can have on the environment. The ex-PM of the UK, Boris Johnson has pledged £80 million in support of a new 10-year initiative that will help create awareness of the Circular Economy across the nation.

According to studies, the world’s fashion waste is expected to increase by 60% between 2015 and 2030. This means it will reach around 148 million tonnes which is equivalent to 17.5 kg of fashion waste per person on earth. All this is a clear indication that it is high time, waste, and pollution in the fashion lifecycle needs to be tackled. That’s where circular fashion comes into the picture.

What is Circular Fashion?

It is a regenerative system in which garments are circulated as long as their value is retained and then returned to the environment in a safe manner when they are no longer in use. Put simply, products are designed and developed with the next use in mind.

In this model, less than 1% of clothing is recycled into new clothing. If everyone could buy just one used item instead of a new one, it would make a huge difference and have a positive impact on the planet.

Circular fashion ensures products are designed keeping in mind resource efficiency, biodegradability, and recyclability. Also, they should be sourced and produced with priority given to recyclable sources and ethical practices.

If the products are not suitable for recycling, they should be biodegradable and used as compost for plants and other organisms.

The chief aim of circular fashion is to ensure the lifecycle of products does not cause socio-economic or environmental harm.

Top 5 Benefits of a Circular Economy

The circular economy is feasible and actions are underway to make it work. As it requires a huge systemic effort, it makes sense that it offers major benefits as well. Have a look at the top five benefits of the circular economy.

1) Reduces the use of non-renewable resources

Even after scientists have warned us about depleting natural resources, we continue to consume non-renewable resources such as metal ores and oils. However, this practice is not sustainable and highly dangerous.

In the circular economy, practices such as reusing resources and refurbishing old products instead of throwing them away are carried out. This ensures less usage of non-renewable resources.

In simple terms, the circular economy includes zero wastage meaning nothing is thrown away which in turn ensures we use our resources smartly.

2) Reduces Carbon Emissions

According to the European Environment Agency, the production and disposal of materials contribute up to two-thirds of greenhouse gas emissions. A circular economy will help reduce these emissions as the entire model is designed keeping in mind the sustainable management of materials.

A circular economy ensures materials are managed more efficiently through the reuse of products and materials while encouraging the use of renewable resources and sustainable practices.

3) Zero waste

The main aim of the circular economy is to reuse resources and products and promote a zero waste model. With zero waste, we can help achieve fewer plastics in our oceans, less garbage, and fewer landfills. It also means we will be less need to mine non-renewable resources and choose to reuse them instead.

Unlike most environmental models that require reduction to achieve zero waste, a circular economy fosters growth. All these benefits make a circular economy ideal for individuals, industries, and governments to achieve their environmental goals.

4) Offers several benefits to consumers

In addition to environmental benefits, a circular economy offers several benefits to consumers. As it reuses most of the materials, it discourages practices such as planned obsolescence which means your products will last longer.

Additionally, a circular economy increases the chances of disposable income by encouraging practices such as buying used items or renting instead of owning them.

Another major benefit for consumers is employment. Many industry types will have to be created to meet the demands of the circular economy. This means new jobs will be created.

5) New opportunities for companies

The circular economy will benefit companies in several ways. In addition to creating new jobs, the circular economy will offer opportunities such as collecting used clothes or electronics, refurbishing old items, and more.

As we reuse most of the finite resources, existing companies can have a secure supply of resources. It may lower the cost of materials allowing companies to run more efficiently. All these practices will improve customer loyalty.

Today, most consumers want to support companies that align their philosophies around the environment and other green initiatives. Simply put, adopting a more environmental business model will help you gain more loyal customers.

Achieving a circular economy is a humongous task and requires the efforts of governments, individuals, and businesses across the globe to achieve it. However, it is intended to improve business competitiveness by identifying cost savings and resilience and enhancing relationships with suppliers and customers. It is estimated that the circular economy will generate $4.5 trillion by 2030 and sustainable businesses are receiving higher returns than others.

Whilst the consumer market is focusing on recycling clothing, staff uniforms and promotional clothing have often been overlooked. This is because recycling systems for clothing simply resell the products or provide them to those in need of these products. Also, most uniforms come with a company logo or text that may damage their reputation if not handled correctly.

Here at PCL Corporatewear, we not only take these products and shred them securely but also offer a range of used and sustainable products. From t-shirts, and trousers to blazers, all our sustainable products can be used as part of your staff uniform clothing or promotional clothing. To know more, contact us and we’ll be delighted to help.

Read More:

1) How to Recycle Your Work Uniforms?
2) Top 5 Reasons to Include Sustainable Clothing in Your Staff Workwear
3) How to Take Care of Your Work Clothes – The Ultimate Guide

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