Circularity and waste: Compared with the linear economy – processes of take, make and dispose – the circular economy creates more local and meaningful jobs. Circular business models include the designing of goods to last longer and greater repairability. This can support the growing remanufacturing industry allowing for the easy recovery of materials when a product is eventually recycled. Also, organic waste can be recycled to become fertiliser that reduces the need for energy intensive artificial fertiliser.
Renewable materials: Fossil based materials intrinsically have a negative Carbon footprint. The transition to biogenetic, captured or recycled carbon sources will reduce the negative impact of consumption. So far, efforts to combat climate change have focused mainly on renewable energy and energy-efficiency measures. However, meeting climate targets will also require tackling emissions associated with manufacturing. Applying circular economy strategies to four key industrial materials (cement, steel, plastic and aluminum) could help reduce emissions by 40% in 2050.
Industry 4.0: Industrial efficiency increases manufacturing productivity, shifts economics and fosters industrial growth. This ultimately changes the competitiveness of companies and regions, which impacts on the goals of inclusive, sustainable economic growth, resilient infrastructure and sustainable industrialisation.