The need for a circular economy

What is a circular economy?

A circular economy is an alternative to a traditional linear, make, use, dispose, economy in which we keep resources in use for as long as possible, extract the maximum value from them while in use, then recover and regenerate products and materials at the end of each service life. 

It entails gradually decoupling economic activity from the consumption of finite resources and designing waste out of the system. 

Why we need it

The global population continues to grow rapidly, increasing demand for raw materials, while supplies are decreasing. Smarter use of resources will, in the future, enable people to enjoy a prosperous life on a healthy planet, with a strong and sustainable economy. A circular economy is needed for three reasons: 

1. Resource consumption

The global population is growing fast; it has quadrupled over the past 100 years and is forecast to exceed nine billion by 2050. This is rapidly increasing demand for raw materials, while their availability is declining.  

2. Dependence on other countries

Many raw materials are currently imported. In a circular economy, countries will be less dependent on each other; products that used to be discarded and incinerated will be used as a source of raw materials in the future. 

3. Impact on the environment

Cars, trains, and planes run on fuels like diesel, petrol, and kerosene. The extraction and consumption of these resources have an impact on the environment. Higher energy consumption also increases carbon emissions. A circular economy will have a less negative impact on the environment and will reduce carbon emissions. 

Benefits of a circular economy

Moving towards a more circular economy could deliver benefits such as; 

  • Reducing pressure on the environment 
  • Improving the security of the supply of raw materials 
  • Stimulating innovation 
  • Boosting economic growth (an additional 0.5% of gross domestic product) 
  • Creating an estimated 700,000 jobs in the EU alone, by 2030 

 

Consumers will also be provided with more durable and innovative products that will increase the quality of life and save them money in the long term. 

Why Bytestock

For over 15 years, Bytestock has expertly refurbished thousands of IT systems and components to ensure the maximum use of them. We’re doing our bit for the economy; trying to extract the maximum value from IT hardware while in use, then recover and regenerate products and materials at the end of each service life. 

Refurbished hardware on average, offers the performance of around 93-97% of that of brand-new hardware. So why wouldn’t you opt for refurbished hardware and save yourself up to 70% off the MSRP? Plus, with Bytestock, you’ll get a free 5-Year Warranty*.  

Contact one of our dedicated account managers today to see what we can do for you. 

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