What exactly is the circular economy? Can I save money with it? Am I already engaging in it in my company? What could I implement to do so? These are all questions that inquisitive entrepreneurs ask themselves about this topic.
The circular economy is a new economic model aimed at decoupling economic growth from the depletion of natural resources and environmental impacts via two main mechanisms. The first is rethinking our production-consumption methods to use fewer resources and protect the ecosystems that generate them. The second is optimizing the use of resources already circulating in our societies. In short, one company’s waste becomes another company’s raw material.
On its website, Québec Circulaire lists inspiring, concrete projects happening throughout Quebec. For example, in the Centre-du-Québec region, cranberry residues destined for disposal are used to flavor a gin, the environmental impact of supply chains is reduced through production scraps, or brewery residues (spent grains) are recovered to produce flour.
These circular initiatives help lower production costs. For instance, in the gin project that participates in the circular economy using cranberry residues, they save about $350 compared to using fresh cranberries, and about 430 kg of oranges per year are reused, representing a value of $980.
Do you want to learn more about the circular economy? Contact an advisor at SADC Arthabaska-Érable!
