Circular Economy Business Models
As we shift from a linear to a nonlinear economic model the circular economy is enabling an ocean of new value opportunities. Value is shifting from forming part of a linear value chain to all of the space around it; closing loops, looking at synergies between industries, connecting end users, managing full lifecycle and networks of collaboration. One of the best examples of the circular economy in action is from the water company Veolia and their urban mining initiative in London. Estelle Brachlianoff, Senior Executive Vice President UK & Ireland for Veolia describes the project as such: “An example of that(the circular economy) is urban mining, we were already collecting and sweeping the streets in London, and other cities in the UK, and this dust was basically landfill. We have developed a process whereby instead of landfilling it we avoid going to landfill for ninety percent of it and we found some palladium and platinum in to those dust…which is a rare metal which is not only very expensive but it is a scarce resource in the world.. basically what used to be waste we have mined it and extracted it and it can go back into another loop of production, that’s a perfect example of the circular economy in action.” Other examples I would like to highlight are from the Circular Awards. The recent Circular Awards by the World Economic Forum is designed to promote some of the most innovative businesses in this space. We have selected just three of what could be considered some of the best circular economy business models out there.