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Via helps you navigate a fast-changing digital marketplace. Eight states California, Connecticut, Delaware, Hawaii, Maine, New York, Oregon and Vermont have banned single-use plastic bags, and Rhode Island recently joined many other locales in banning plastic straws. Become a newsletter subscriber to stay up-to-date on the latest Giving Compass news. Explore our in-depth industry research on 3 964 circular economy startups & scaleups and get data-driven insights into technology-based solutions in our Circular Economy Innovation Map! For instance, let's take textiles. Three Circular Economy Trends in 2020 Jan 5, 2021 Curated Article GreenBiz Giving Compass' Take: Lauren Phipps, writing for GreenBiz, lists three main trends that define the circular economy in 2020 and what might happen over the next year. The dire environmental effects of human consumption are in the news every day, as scientists release new metrics on climate change and wildlife endangerment. While plastics, policy and resale took home the top slots for 2021, I would be remiss not to note the trend runner-ups of a newsworthy year. It allows brands and companies to significantly reduce packaging purchase and disposal costs. The startup grows strains of mycelium on pre-engineered substrates from agro-industrial residues. Consumers play a crucial role in driving the Circular Economy. For example, immersive technologies like Augmented Reality (AR) and Virtual Reality (VR) reduce the need for physical interactions. SEaB Energy is a UK-based startup that offers solutions to generate on-site energy from waste. The startup leverages automatic lead qualification, integration with external partners, video inspection, and remote assistance to achieve this. The Circulars Accelerator (an evolution of the highly successful Circulars Awards) is a bespoke, action-oriented program that supports trailblazing circular innovators across the globe to overcome their barriers to scale. Leveraging AI to power Recycleyes robotic picker, it adapts to changing waste compositions without any need for retrofit. With this data, were better informed. Over the last year, I've had the distinct pleasure of rounding up the weeks most influential and eye-catching circular headlines. Circular opportunities for fast-moving consumer goods could amount to $700 billion in material savings each year, according to the Ellen MacArthur Foundation. Pandemic-related disruptions including fluctuating product demand, manufacturing shutdowns, port congestion, interrupted distribution channels and labor shortages all contributed to widespread material shortages that persist even now. Food sharing applications are gaining importance since they prevent food waste. Additionally, rewarding circular consumption and disposal motivate people beyond the obvious but abstract necessity to protect the planet. Sharing platforms are gaining popularity, encouraging the collaborative use of resources and helping optimize their value and use. This is a preview of subscription content, access via your institution. Consumer Expectations Consumers are making more deliberate choices. Were all aware of how important the circular economy is to global climate change. In June 2021, around one fifth of professionals reported a pause or delay in initiatives related to waste and recycling. The Right to Repair movement saw traction across the pond, as repairability scores for electronics rolled out in France, appliances gained repair protections in Britain and the EU proposed universal charging cords for smartphones. Ensure you also peruse our meeting playbook for more efficient meeting strategies. Hence, startups are also working on sustainable practices like reusing, repairing, and remanufacturing products. The dashboard enables the supervisors to monitor assigned devices. (. Waste Management/Waste Technology, Environmental Management, Sustainability, Environmental Monitoring, Environmental Engineering/Biotechnology, Over 10 million scientific documents at your fingertips, Not logged in Top 8 Waste Management Trends & Innovations in 2023, Curious about how open innovation contributes to a circular economy? For the packaging industry, startups are developing sustainable packaging solutions such as compostable packaging and edible cutlery. If not, select "Manage Preferences" to learn more about managing your cookie preferences. Globally, average consumption of renewable energy has been rising, with China leading the way. After the process, every laptop undergoes Aiken testing as well as a minimum 3-hour stress test to run the major components at full load. A 501(c)(3) organization. He published chapter in ASCE & others. Thus, circular economy solutions turn waste into resources and extend the life of products and materials. The Circular Economy trend is an economic model that focuses on reducing waste and making the most out of available resources. With the alarming rise of waste and carbon emissions, effective waste management is critical to reducing the environmental impacts of economical activities. But three major trends have emerged in the past few years that are driving new interest in circularity: changing consumer expectations, global supply chain disruptions and growing environmental concerns. Consumers are making more deliberate choices. First & Last Name* Your Business Email* Company*, * Get our free newsletter for insights into in technology, startups, and our services. This trend promotes farming practices that regenerate soil health and biodiversity, increasing carbon capture and reducing the negative environmental impacts of agriculture. A report published by Google revealed that maintaining the status quo would result in a terrifying 7.7 gigatons of plastic waste being landfilled, incinerated or leaked into the environment by 2040 equivalent to 16 times the weight of the entire human population on earth today. Factette: Commodity fuel energy prices index reached a 10-years historic low of 29 in April 2020(Euromonitor International from World Bank). In todays rapidly evolving global landscape, the need for sustainable and resource-efficient economic models has become a critical prerogative. Similarly, food sharing applications reduce food waste while preventing losses from unsold food. So far, the answer seems murky. Repair solutions offer a much cheaper alternative for the companies while also contributing to circularity. Unreal engine vs Unity: Which one is better? Click here to see all our statistic posts. It manufactures soles from eco-rubber that comprises 70% recycled rubber and 30% virgin rubber. Thats partly because existing supply chains were built to serve a linear economy, which basically assumes a constant supply of natural resources. Unfortunately, this process is still a bottleneck for many waste management facilities as the majority of them follow a single-sort system in which all the recyclables end up in the same box. On top of that, consumers have experienced scarcity of certain products, and are finally beginning to understand that ecosystems are fragile and resources limited. Timely, incisive articles delivered directly to your inbox. What Is The Hybrid Work Model & Why Do Employees Want It? Explore our in-depth industry research on 2 927 waste management startups & scaleups and get data-driven insights into technology-based solutions in our Waste Management Innovation Map! The recent, wildly successful IPOs of second-hand e-commerce platforms Poshmark and ThredUp provide a case in point. This entirely non-exhaustive list speaks to a pivotal year. Three standards are crucial to sharing pertinent information and enabling a circular economy: Taken together, changes in consumer expectations, rampant supply-chain disruptions and growing alarm about the future of our planet are creating keen interest in circularity. Source: Euromonitor International from Eurostat, WU Global Material Flows DatabaseFactette: 52.6% of professionals working across all FMCG sectors reports that sustainability isextremely important to improve business resilience to unexpected risks or challenges Euromonitor Internationals Voice of the Industry: Sustainability Survey, 2021). To explore custom insights, simply get in touch with us. It also eliminates the need for traveling, thus, reducing the need for resources such as saving fuel that would have been used. While electricity output for all other energy sources fell between 2019 and 2020, solar and wind experienced an estimated increase of 1.6% in final consumption. This is why repair solutions are an important circular economy trend and companies are adopting them to reduce their carbon footprint and save costs on raw materials. This cant be achieved with closed-loop systems. This data allows governments to make more evidence-based environmental policies. So whats so unexpected? Identifying new opportunities and emerging technologies to implement into your business early on goes a long way in gaining a competitive advantage. Industries are focusing on using innovative production techniques that minimize waste, reduce pollution, and optimize resource use throughout the production process. The most complete business toolkits for founders, startup teams, entrepreneurs or anyone with a great business idea. Repair solutions address this, extending the life of products. When the shoes reach the end of their lifecycle, the startup shreds and reuse them as input for new products. 4 industry leaders on what it takes to go circular Solutions that aim to reduce waste and the use of new raw materials enable establishing a closed-loop economy. The rise of sustainable design trends, such as remanufacturing, modular and circular designs, and biomimicry further complement these efforts, promoting environmentally friendly practices. Besides having a fill level sensor for trash, it also offers route optimization for waste collection. Australian Battery Recycling and Manufacturing Summit 2023: Driving This is why the use of AI in waste management is one of the emerging circular economy trends. While the line from bill to brand action is not always a straight shot, the undeniable impact of policy change remains clear in 2021. Momentum has been building for similar measures to reduce the impact of a wasteful society on the natural environment. These 16 startups were hand-picked based on criteria such as founding year, location, funding raised, and more. This is why there is a shift towards a circular economy. After dismantling each laptop into its major parts, they repair and repaint covers, palm rests, bezels, and keyboards in matt, gloss, and soft-touch finishes to match the original laptop. With new statistics and evidence in tow, numerous reports raised red flags and troubling revelations for both population and planet. It enables service providers, device manufacturers, electronics retailers, and insurance companies to provide repair and maintenance services to their end customers. Keeping abreast of these trends as they evolve beyond the pandemic and understanding the link between them and business performance will help companies to identify risks and new opportunities related to sustainability. To tackle this issue, various types of sharing platforms are on the rise. It requires collaboration and information exchange between all supply chain partners and stakeholders in a products lifecycle, potentially including raw material sources, processors, manufacturers, distributors, retailers, resellers, refurbishers, recyclers and others. You may not realize it, but fabrics make . It also enables suppliers and manufacturers to increase material value by digitizing their materials and making them traceable. If you are happy with this select "Accept All". Moreover, it reduces waste and the use of new raw materials. The CEAM assessment tools in TM66 allow us to interrogate manufacturing processes and assign every product a single figure rating. The circular economy, which was gaining traction pre-pandemic among consumers and businesses, was negatively impacted by COVID-19. It also detects chemical contamination in the items. One fifth of them expect investments in electric vehicles, one quarter of them in initiatives to support their suppliers to decrease their emissions, while only 13% foresee investments in the development of carbon capture technologies (Euromonitor Internationals Voice of the Industry: Sustainability Survey, 2021). Sustainability | Free Full-Text | Trends in the Fashion Industry. The Moreover, it turns unrepairable clothes into new products like transforming a damaged long dress transformed into a top. But remanufacturing involves rebuilding a product to its original condition with reused, repaired, and some new parts, making it as good as new. Dr.Sannidhya Kumar Ghosh, graduated in civil engineering from Jadavpur University and MS from Department of Civil, EnvironmentalandArchitecturalEngineering, University of Colorado Boulder, USA where he is the Researcher & instructor. Similarly, it enables the consumers to access information underlying a companys sustainability claims, thus, establishing trust and reliability. Overall, these circular economy trends have vast implications for our future, leading to a more sustainable, resource-efficient world with reduced waste, pollution, and environmental degradation. Accountability for Leaders, 8 Ways to Meet Your Goals with Time Management, Property Management Goals To Set In 2023 And Beyond, Accounts Payable Goals To Set In 2023 And Beyond, Performance Management Goals To Set In 2023 And Beyond. In April 2020, prices of energy commodities fell by 60.5% compared to January 2020, with record lows for oil (down by 71.1% between January and April 2020). Resolute Industrial is a US-based startup offering remanufactured screw compressors, reciprocating compressors, and air-cooled chillers. Reusing products extends their lifecycle while reducing waste and the use of new raw materials, thus, making it one of the top circular economy trends. From single-use plastics bans to an upcycled food certification, its been a momentous year for the circular economy. of India. National and regional governments are promoting circular economy transitions through regulations, financial incentives, and infrastructure projects that encourage businesses and consumers to adopt sustainable practices. These points are redeemable to purchase goods or services. My hope for 2022 and beyond is a change in the plastic tide. But this year also offered a collective leveling-up of our data-backed knowledge and understanding about theflowsandintervention pointsthat could stem the tide on plastic pollution. * Get our free newsletter for insights into in technology, startups, and our services. This model ensures that resources circulate within the system, thereby reducing waste, conserving resources, and minimizing environmental impact. Sustainability is increasingly becoming a factor in consumer purchase decisions. Finding the Best Free Online Meeting Software. Starting from a general overview of the emerging trends today affecting the fashion industry, the paper will devote particular attention to the analysis of the most important phenomena that are influencing this market and the drivers for long-lasting competitiveness: sustainability and attention to the so-called circular economy. Despite huge improvements in air quality in urban and industrial areas during COVID-19 lockdowns, air pollution continues to be a growing problem globally, due to a quick rebound following the first peak of the pandemic. Modeling and implementing a truly circular economy will require a huge quantity of data using a standardized structure to share information in a common data language (using common semantics, ontologies and taxonomies). Moreover, the Circular Economy Innovation Map reveals 16 hand-picked startups, all working on emerging technologies that advance their field. Here are three trends that defined the circular economy in 2020, and what they might mean for the year to come. The result of this research is data-driven innovation intelligence that improves strategic decision-making by giving you an overview of emerging circular economy technologies & startups. The startup also provides a free return system through its mobile application. Years of activism, pressure and hard work have helped catapult many of these wins. In the Innovation Map below, you get an overview of the Top 8 Circular Economy Trends & Innovations that impact companies worldwide. Therefore, startups are developing IoT-based smart waste management solutions to reduce the inefficiencies in trash collection. Depending on your specific needs, your top picks might look entirely different. Money poured into the market like it was going out of style: Kering invested $216 million in French resale marketplace Vestiaire Collective; Resale service provider Trove raked in $77.5 million in Series D funding; Lithuanian second hand fashion platform Vinted raised $283 million. Moreover, recycling implies breaking down a product to convert it into raw materials that are used for making new products. Learn how your business can use external innovation to adopt circular technologies that work best with your systems, Accelerating the Circular Economy with Open Innovation. In the lighting design world, this means making strides towards circular economy principles - as quickly as possible. Solutions include generating resources from waste, optimized waste collection with IoT, and AI-powered waste sorting. Its goal is the development of a convenient, affordable, 1.5C-aligned system by 2030. Read the full article about circular economy trends by Lauren Phipps at GreenBiz. And in California, no fewer than seven recycling and composting bills were signed into law perhaps the most notorious of which will require packaging donning the chasing arrows symbol to actually be recycled in practice. The circular economy is based on three tenets that support supply chain resilience: Remove waste, complexity and toxicity from products for more effective end-of-life resource management. Veras is a Danish startup offering repair services for garments. Part of Springer Nature. Three Circular Economy Trends in 2020 - Giving Compass FeaturedChatGPT Statistics & Facts in 2023, FeaturedStatistics about Fast Fashion in 2023, FeaturedStatistics & Facts About Technology Addiction, FeaturedHow To Develop A Communication Strategy, FeaturedHow To Leverage Asynchronous Communication, Our Guide For Efficient Hybrid Meetings (2023), Effectively Defining Team Roles And Responsibilities, Verbal communication: What It Is, Advantages, Risks & Guide, Effective Communication At Work: Our Guide. Curious about startups that will impact the Circular Economy industry? Separating or sorting garbage is as important as an effective waste collection to ensure that the right materials are sent for recycling. The platform quickly delivers an exhaustive overview of emerging technologies within a specific field as well as identifies relevant startups & scaleups early on. Improving resource efficiency in these countries is required to achieve sustainable development and green growth. Take for example the tonnes of electronic waste globally. Fungal mycelium acts as a reinforcement to the matrix structure, creating a plastic-free and coherent material composite. 8 Tips For Running A Successful Leadership Meeting, Agile Meetings: The Definitive Guide To Effective Meetings, The Ultimate Guide For Recurring Meetings (2023), How To Reduce Work Meetings: Tips For Fewer Meetings, FeaturedLearn Everything About Retention Marketing, What Is A Marketing Campaign: Definition & The Best Practices, Account-Based Marketing: Past, Present & Future, Responsibility vs. This enables mining companies to meet Environmental, Social, and Corporate Governance (ESG) demands. Finally, PFAS came under scrutiny when Vermont banned forever chemicals from select products, the EPA outlined PFAS limitations and regulations and the PFAS Action Act of 2021 cleared the House. Interested to explore all 3 900+ startups & scaleups? Additionally, some states and municipalities have passed new regulations aimed at reducing consumer waste, further reminding consumers to be more mindful. Moving from a linear to a circular world is not only a way to decouple economic growth from the use of resources and avoid unnecessary waste, but also a powerful tool to reduce emissions and combat climate change. For this, startups and smart cities are turning to technologies like Artificial Intelligence (AI), the Internet of Things (IoT), and blockchain, making them integral aspects of circular economy trends. The solutions algorithms replicate the power of human vision to identify items in waste streams. Click to download our free Circular Economy report. The startup utilizes various co-monomers, solvents, and additives to modify the properties of the final polymer network. It makes items like bowls, trays, mugs, and pizza packaging from recyclable polypropylene. 2023 Springer Nature Switzerland AG. AI-powered sensors differentiate among items made from different materials as well as nuances among the ones of the same materials. Three Trends Driving Development of a Circular Economy From single-use plastics bans to an upcycled food certification, its been a momentous year for the circular economy, supply chain shenanigans and safety concerns notwithstanding. Economics and Finance, Economics and Finance (R0), Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2021, Hardcover ISBN: 978-981-16-0912-1Published: 24 November 2021, Softcover ISBN: 978-981-16-0915-2Published: 25 November 2022, eBook ISBN: 978-981-16-0913-8Published: 23 November 2021, Number of Illustrations: 1 b/w illustrations, Topics: The circular economy is a global shift in every aspect of our lives that seeks to eliminate waste and extend resources. 1. Policy may not yet demand it, but both Apple and Microsoft have agreed to make parts and manuals more accessible for consumers. The startups containerized anaerobic digester, Muckbuster, turns slurry and farm waste into electricity and heat, generating fertilizer as a by-product. The software solution consists of an AI tool that provides a precise view of waste flows, analyzes their composition, and characterizes the waste in real-time. MOGU is an Italian startup that offers mycelium-based materials for interior design. In a world highly dependent on resources extracted in emerging and developing countries, eco-innovation and cross-sector collaboration is key to reducing costs of resource- and energy-efficient technologies. His research areas include circular economy, Concrete & building design in high seismic region, Earthquake characteristics, impact of materials ageing during earthquake, Structural Dynamics, C&D waste management, etc. When expanded it provides a list of search options that will switch the search inputs to match the current selection. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp, Design, CMS, Hosting & Web Development :: ePublishing, Data Management (Big Data/IoT/Blockchain), Sustainability & Corporate Social Responsibility, Melanie Nuce, SupplyChainBrain Contributor, Most Supply Chains Are Not Ready for Due Diligence Compliance, Beyond Sustainability: A Circular Approach to Supply Chain Resilience, How Companies Can Avoid Competing Solely on Price, Climate Change Threatens a World Without Doritos. The standards already exist, however, and are widely used in retail, healthcare, food, textile and other industries to enable unique product identification, transparency and traceability. The platform allows suppliers, manufacturers, OEMs, and brand owners to create, maintain, and transact digital assets. His significant contribution has been able to place the name of Jadavpur University in the world map of research on waste management. Get our free newsletter for insights into in technology, startups, and our services. As a result, people are becoming more conscious of their personal responsibility in the ecosystem. Of course, legislative movement is not the only driver here. It's a big task, but fortunately were seeing a new level of collaboration across the lighting community and a concerted effort to share knowledge and move forward as an industry. Dorokhina, Sergey G. Kharchenko, Maka Jishkariani, Sadhan Kumar Ghosh, Khatuna Didbaridze, Nugzari Buachidze, Natela Dzebisashvili, Irma Gurguliani, Khatuna Chikviladze, Sadhan Kumar Ghosh, David Christensen, Jens Hjul-Nielsen, Rikke Marie Moalem, Brian Johansen, Vesna Lavtizar, Kos Igor, Godina Koir Ladeja, Bavcon Kralj Mojca, Trebe Polonca. The COVID-19 pandemic hit both the demand and supplyof energy, metals, and agricultural commodities, resulting in substantial price volatility. The remanufactured compressors undergo a bench testing procedure to assure they are ready for service. Best performing country ranks number 1 and worst performing country ranks number 97.Factette: Only 7 in 10 of professionals reported a delay or paused in their companys pollutioninitiatives during the peak of the pandemic in 2020 (Euromonitor Internationals Voice of the Industry: Sustainability Survey, 2020), South Korea has witnessed population decline over the recent years, as number of childless households continue to increase. Companies are focusing on reducing packaging materials, using biodegradable or recyclable alternatives, and minimizing the overall environmental impact of packaging materials. Discover the latest Circular Economy Trends! Prevailing definitions of sustainability have evolved with growing awareness of the delicate interplay between the environment, human health and welfare, and economics. Much like the snow outside, the slow but steady progress of circularity shows no signs of stopping. Scarcity of resources, volatility of pricing, environmental damage, cost reduction and reputational benefits are strong drivers for a greater transition to the circular economy. Here are my honorable mentions: With that, I tip my hat to quite the year of coverage it certainly was one for the books. Euromonitor International has identified climate action, circular economy, commodity price volatility, resource security and environmental pollution as the five key trends affecting the global sustainability agenda. Among others, smart recycling and upcycling as well as new sustainable materials will transform industries as we know them today. First & Last Name* Business Email* Company*, Get our free newsletter for insights into in technology, startups, and our services. With concerns over environmental pollution rising globally and threatening public health, an increasing number of businesses are promising to decarbonise supply chains, logistics and portfolios, creating opportunities for innovation in clean products, services and technologies. The startups engineers inspect each part of the returned compressors to determine suitability for reconditioning and reuse. When placed underneath a recycling bin, it monitors the weight of the waste, generating alerts when the bin needs to be emptied. It allows the consumers to see all restaurants that allow package borrowing or returning. Products made from non-renewable resources largely contribute to environmental pollution and reach the end of their lifecycle very quickly. By opting for recyclable or long-lasting products, demanding more sustainable and eco-friendly options, and participating in sharing or repurposing platforms, consumers can contribute to creating demand for circular products and services. Track existing and future opportunities to support critical decision-making across all functions within your organisation. Like everyone in the lighting design industry, were embracing TM66 as we refine the way we work. Sadhan Kumar Ghosh, Sannidhya Kumar Ghosh, Rahul Baidya. Curious about how we partner with you to help you solve your complex modern-day business problem? The topic is top of mind for most of us given the increased demand for single-use everything amid the pandemic, which has led to asurge in plastic wasteentering into waterways and oceans. Dublin, June 02, 2023 (GLOBE NEWSWIRE) -- The "Australian Battery Recycling and Manufacturing" conference has been added to ResearchAndMarkets.com's offering. Gitnux Entrepreneurship University Launch Offer | Get Courses 33% Off , Statistics & Facts About Technology Addiction, How To Leverage Asynchronous Communication, Learn Everything About Retention Marketing, 30 Online Business Ideas for Small Entrepreneurs. For instance, the fashion industry is now upcycling textile waste to produce new apparel, shoes, and accessories.

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