Decoding Innovation How circular economy acts as an enabler to build sustainable societies
In this episode of Decoding Innovation, Keiran Smith, CEO and co-founder of Mr. Green Africa, discusses circular economy and how technology is changing the way plastic is recycled worldwide.
Sustainability has been of key focus in modern day living. Circular economy plays a key role in achieving sustainability by reaching maximum input efficiency using minimal resources, as well as reducing waste production. The regenerative economic system aims to achieve sustainability without diminishing existing products but to churn the “waste” into something useful via systematic shifts.
By extending the life of products, especially plastic, the natural capital that goes into recycling can be reduced. The life of plastic products can be extended by bringing in a loop of reuse, repair and remanufacturing products. Circular economy involves a clear distinction between technological and biological cycles that aims to rebuild all types of capital.
Keiran Smith is a disruptive innovator in the recycling space. The CEO and co-founder of Mr. Green Africa shares his insight on the right combinations and necessary understanding needed to implement circular economy for plastic recycling, and how Mr. Green Africa is paving the way to building a sustainable tomorrow.
Key takeaways:
- Circular economy holds a key role in building sustainable societies and can lead to increased efficiencies using minimal input resources and a connected ecosystem of capital.
- Awareness and technology are the biggest hurdles faced in plastic recycling that need immediate addressing.
- Connecting a commercial model with a sustainable, social-friendly model is the way to go for recycling plastic worldwide.
- Partnership element plays a key role in successful implementations of plastic recycling based on the circular economy approach.