Circular economy: a way out of the dead end?

Circular economy: a way out of the dead end?  Deutsche Bank

Circular economy: a way out of the dead end?

For our daily consumption, for food, clothing, for housing and for mobility, we need huge amounts of resources and energy.

With an economy that is following mostly a linear principle in which products are manufactured, consumed, and then thrown away, this causes huge problems.

How can we reconcile a growing world population, prosperity, and the wellbeing of nature?

Probably with an alternative to the linear “ex-and-hop” principle – such as the circular economy, an alternative economic model first described in detail by the British scientist David W. Pearce in 1990.

Circular economy: more than recycling

In the circular economy, products or their components are not thrown away after use, but reused – for as long as possible and, if possible, for an equivalent product.

For this to work, it is not only a matter of good recycling and functioning waste management. Already at the design and manufacturing stages, care must be taken to ensure that the product or its components can be reused. This means that the materials should ideally be environmentally compatible, renewable, and easy to separate for recycling.

Circular economy has great potential – but is still not very widespread.

Although currently only 7.2 percent of the world’s value creation is based on a circular model, Steven Stone, Deputy Director of the Economics Division at the United Nations Environment Program, sees it as a real gamechanger. It would, he believes, allow us to tackle the problems of climate change, natural degradation and pollution at the same time. But: “the transition might not be painless,” he admits in our interview.

Stone believes that prosperity for all could be possible through a circular economy – but it would require, first and foremost, a change in thinking in the industrialized countries and a new definition of prosperity that is not based solely on gross domestic product (GDP) as the key indicator. Instead, education, health and an intact environment would have to be valued as equally important factors.

Using the example of plastic, Stone emphasizes that it is also important to make the actual price of a product clear. Because plastic, which is above all comparatively cheap to produce due to cheap oil, causes huge consequential costs. Estimates put the cost of plastic pollution alone at 300 to 600 billion US dollars a year.

Fighting ocean plastic pollution

It is difficult to estimate how much plastic ends up in the ocean each year. Estimates range from 4.8 to 12.7 million tonnes which is at least one truckload per minute, threatening our largest ecosystem. This is due to a lack of waste disposal systems. Plastic is thrown away, ending up in the sea via rivers or other paths. The Berlin-based technology start-up CleanHub has developed a solution to this problem. Its goal is to ensure that less plastic and trash ends up in the ocean.

SDGs, Targets, and Indicators

  1. Sustainable Development Goal 12: Responsible Consumption and Production

    • Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources
    • Indicator 12.2.1: Material footprint, material footprint per capita, and material footprint per GDP
    • Indicator 12.2.2: Domestic material consumption, domestic material consumption per capita, and domestic material consumption per GDP
  2. Sustainable Development Goal 13: Climate Action

    • Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning
    • Indicator 13.3.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning into primary, secondary, and tertiary curricula
  3. Sustainable Development Goal 14: Life Below Water

    • Target 14.1: By 2025, prevent and significantly reduce marine pollution of all kinds, particularly from land-based activities, including marine debris and nutrient pollution
    • Indicator 14.1.1: Index of coastal eutrophication and floating plastic debris density

Analysis

1. Which SDGs are addressed or connected to the issues highlighted in the article?

The issues highlighted in the article are connected to Sustainable Development Goals 12, 13, and 14.

2. What specific targets under those SDGs can be identified based on the article’s content?

  • Under SDG 12, the specific target is 12.2: By 2030, achieve the sustainable management and efficient use of natural resources.
  • Under SDG 13, the specific target is 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning.
  • Under SDG 14, the specific target is 14.1: By 2025, prevent and significantly reduce marine pollution of all kinds, particularly from land-based activities, including marine debris and nutrient pollution.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

  • For SDG 12, the indicators mentioned in the article that can be used to measure progress are:
    • Indicator 12.2.1: Material footprint, material footprint per capita, and material footprint per GDP
    • Indicator 12.2.2: Domestic material consumption, domestic material consumption per capita, and domestic material consumption per GDP
  • For SDG 13, the indicator mentioned in the article that can be used to measure progress is:
    • Indicator 13.3.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning into primary, secondary, and tertiary curricula
  • For SDG 14, the indicator mentioned in the article that can be used to measure progress is:
    • Indicator 14.1.1: Index of coastal eutrophication and floating plastic debris density

SDGs, Targets, and Indicators

SDGs Targets Indicators
Sustainable Development Goal 12: Responsible Consumption and Production Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources Indicator 12.2.1: Material footprint, material footprint per capita, and material footprint per GDP
Indicator 12.2.2: Domestic material consumption, domestic material consumption per capita, and domestic material consumption per GDP
Sustainable Development Goal 13: Climate Action Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning Indicator 13.3.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning into primary, secondary, and tertiary curricula
Sustainable Development Goal 14: Life Below Water Target 14.1: By 2025, prevent and significantly reduce marine pollution of all kinds, particularly from land-based activities, including marine debris and nutrient pollution Indicator 14.1.1: Index of coastal eutrophication and floating plastic debris density

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: db.com

 

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