Today we wanted to bring you a subject of great interest: the Circular Economy Model. Nowadays, it is crucial to adopt this type of model in different industries, especially in the clothing industry where the social and environmental costs are dreadful and the waste of resources is massive.
According to Fashion Revolution, “Today both people and the environment suffer as a result of the way fashion is made, sourced and consumed”.
Also, we as consumers or as people involved in this industry, have accountability on how fashion is impacting people’s lives and the environment and can encourage transition.
So let’s start by knowing what is a Circular Economy and learn how this model can actually not only save resources and be ethically respectful towards Nature and the people involved, but also be more financially and time efficient and promote creativity and new job opportunities, boosting the overall Economy that we live in.
What is a Circular Economy?
It’s a model of Economy that ensures that the items that we produce will, after serving their purpose, be reutilized, restored or recycled in new useful products, avoiding wasteful toxic matter and redesigning the consumption of finite resources.
It’s known, as the name says, to be a model of closed-loop production and consumption systems, that allows the economy to work more efficiently at all scales, whether in large or small businesses, organizations or as individuals, globally or locally.
This model is based on three principles:
And distinguishes two main cycles:
What are the steps towards a Economy?
According to the Ellen MacArthur Foundation this type of Economy depends on four essential building blocks such as:
Why should we adopt a Circular Economy?
A Circular Economy will reduce the pressures on the environment, by reducing the emissions of greenhouse gas (GHG), use of resources and impact on landscapes and animal habitats, limiting biodiversity loss. It will also help with the existing dependence on importation of raw materials and price fluctuation and availability. The Circular model can also save money to those involved. To the industries by the efficient rethinking of the use of materials and possible recycle, avoiding new acquisition of unnecessary resources, and to the consumers, because the products are made to last and be resistant.
Waste prevention, eco-design, reuse and other “circular” measures are estimated to generate net savings of around 600 billion euros for EU companies (around 8% of their total annual turnover), creating 170,000 direct jobs in the waste management sector.
Making Fashion Circular
The Ellen MacArthur Foundation started this initiative back in 2017, on a different name - Circular Fibers Initiative – where they launched a program that aimed to create a new textile industry. In 2018, their goal was to fully redesign the operating model, going further from textiles to packaging and other steps in the former Fashion industry economy, and the movement took a new name - Make Fashion Circular. This initiative has now the participation of leaders in the industry such as Burberry, Gap Inc., H&M Group, Nike Inc. and others.
We would like to challenge you to go watch this three-part video series by their Foundation that explores what the Circular Economy really means and examples of how some companies are doing it today.
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It's been a few weeks since the start of 2020. Nonetheless, we wanted to remind you that you are still in time to do your list of goals for this New Year. Have you thought of what you want to accomplish this year? We have put together a list of positive steps towards a successful and happier life to inspire you in this New Year.
We are so happy to finally share this news with you! This has been one of our major goals of 2019 and we did it! It has been hard work, but we’ve made it happen.
Read the blogpost to know more about our journey on becoming a B Corp.