How Can Circular Economy Help Accelerate Resilient Recovery Post-Pandemic
The COVID-19 pandemic disrupted the world and brought to the fore the many issues that needed an immediate response and action such as increasing economic crisis, deteriorating physical health, social inequalities, and environmental impacts in many countries. These growing concernshave prompted decision-makers and others alike to plan and implement policies and strategies that can help minimize theseadverse effects. To build a sustainable environment, the focus has shiftedfrom a quick short-term approach to a long-term sustainable approach. COVID-19 has further uncovered the failures of a linear ‘take-make-waste’usage of resources and has instead created a need for a more circular ‘reduce-redesign-reuse’ approach to resource usage that ensuresresilient and adaptable surroundings in post-pandemic times.
Therefore, it is time for us to respond and speed up the recovery transformations. Circular Economy is an effective and strategic plan to hasten the economic revival and faster recovery from post-pandemic impacts among people and the state in general.A sustainable long-term growth schedule under the Circular Economy will help repair the natural environment and improve the livelihood of wider population segments. It is the right pathway to elevate society from the clutches of wasteful resource approaches used without realization for ages. Sustainable action is a small step to making our planet and our economies more resilient and secure for present and future generations. Circular Economy strategies can ensure a sustainable and secured food sector by regenerating agriculture and using food waste to replenish nutrients in the soil. For example, Anaerobic digestion can be used to create biogas from organic nutrients. This practice in local farms can also help people to experience the power of local food cycles and avoid contamination risks of large-scale production.
In the wake of the Covid-19 pandemic, many companies have beenworking effortlessly to boost their resilience and creating mechanisms against future calamities and unseen dangers by using disruptive digital technologies and innovative manufacturing tools. By using AI, ML, and other smart solutions as per sectoral requirements, businesses can streamline their internal and value chain-led processes. Green Cloudcomputing is another way to establish an effective supply chain and manage relationships with employees using a centralized connected system. Green cloud is a highly advanced and futuristic simulator for energy-aware cloud computing data centers with a central focus on cloud communications. It strategically channelizes business capabilities to aid agility, reliability, scalability, adaptability, and productivity through circular and connected processes.
A report published by McKinsey highlights three keys to be salient post-pandemic recovery which include - Public and private sectors, strategies, and structures as the most important keys for effective business growth and societal resilience. At this stage, the initiating point is to make the public aware – they should have an understanding of the immense opportunities theCircular Economy model holds for sustainable and inclusive growth.
It is important to mention that we, as fast-evolving humans, must ensure that all machines, methods, and materials related to the implementation of the Circular Economy approach and the 3Rs policy is well executed. Circular Economy starts with every individual – only then the impact of the 3Rs (reduce, reuse, and recycle) with the help of 3Ms(man, machine, and methods) will generate amonumental impacton society and the environment as a whole. Hence, the Circular Economy is an effective instrument to achieve economic growth from resource use and environmental impact and opens the channel of resilient recovery and unprecedented growth without compromising the requirements of the future generations.