CIRCULAR ECONOMY
CONTINUED
year is probably still fit for purpose,” he says. “It’s how you get that more extra life out of that device. “Even when a device is past its useful life, there’s still some value in that. There are various organisations that are recycling and extracting all the precious metals out of circuit boards and the like. There’s a finite amount of resources in the ground to create these circuit boards so we should make sure we’re leaching the value out of the circuit boards when they end their useable life. “We will see different business models as well. Something we’re working on now is network as a service, trying to deliver everything you normally consume as a purchase, as a service. That means we hold on to all the hardware and networking equipment and are responsible for that. That model enables us to be much more in control of those devices. For example, if a device goes into customer A for a three-year period, and then customer A wants to upgrade, we can then put those devices into customer B, or we can recycle it. We are in control because it’s owned by us and that’s another value benefit from network as a service offerings.” Future The circular economy will continue to grow in importance in the coming years, especially with more sustainable governance and legislation being introduced across the world. “The concept of a circular economy and sustainable practices in general are expected to continue growing as a priority for businesses in the future,” says Taranpreet. “The drive towards sustainability is motivated by environmental concerns, economic benefits, as well as consumer demand for responsible practices. “Regulatory pressures are also pushing businesses toward more sustainable operations, making companies more inclined to adopt circular economy principles.” Richard adds that it is “imperative that companies of all sizes prioritise their ESG/ sustainability strategy to remain relevant. “In terms of where businesses start on their sustainability journey, a good place is aligning to the UN Sustainable Development Goals by introducing a materiality assessment across their own business and supply chain. The resulting feedback then allows businesses to set some realistic goals that are relevant to their eco-system, alongside implementing a carbon reduction plan that looks to reduce
It takes an overarching, joint effort to turn our previously linear economy in the direction of “
a circular economy.
”
their Scope 1, 2 and 3 emissions.” Arjan notes that the circular economy, sustainability and remanufacturing are drivers of innovation and hold great potential. “By being the exclusive print industry partner for EU-funded projects, such as C-SERVEES, CE-RISE and DiCiM, Lexmark is making great strides in taking best-practice circular economy models, such as our cartridge return programme, LCCP, or our Digital Product Passport approaches, to an industry level and beyond,” he says. But for a circular economy to really take hold, a rethink across society is crucial, he adds. “Environmental protection and sustainability must become priority corporate goals, production methods and design must change, processes must be rethought and close cooperation with partners and customers is also required,” he says. “It takes an overarching, joint effort to turn our previously linear economy in the direction of a circular economy.” Stephen concludes by emphasising the imperative for the circular economy. “As individuals and businesses, we need to listen to the increasingly urgent calls for practical solutions to the climate emergency and the growing issue of e-waste,” he says. “The latter is best highlighted by the sheer scale of the numbers: as a planet, we amassed nearly 54 million tonnes of e-waste in 2019 alone. “These statistics underline the need to quickly transition to a more considered form of consumer culture. When it comes to tech, we need to build a circular economy – one that truly maximises resource utility.”
Mark McLardie
westconcomstor.com
Aaron Brown
webuyanyphone.com
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