The New Decade’s Challenges for Implementing Circular Economy

We hear the term “circular economy” more and more these days. Can you explain what that means for those who might not be familiar? Why is it important?
In a traditional economy, we take, make, and dispose in a straight line. But the circular economy is all about how we can change that process into something more continuous, finding ways to be more intentional and keep resources within the cycle. It’s all about reducing waste, whether through packaging design or using more eco-friendly materials in general. Another huge element is asset recovery, finding ways to repair, refurbish, or reuse old products for our spare parts inventory. The circular economy is not only good for the environment, but it is good for the bottom line. There can be a lot of cost savings, because we don’t have to extract new natural resources each time. Instead we leverage existing resources in new and innovative ways.

Created by musician, producer, and entrepreneur Pharrell Williams, Humanrace is a skincare company that focuses on environmental and social impact. Products are made from vegan and cruelty-free ingredients and packaged in reusable containers made from 50% post-consumer recycled landfill plastic. To reduce waste, these containers can be replenished with recyclable refill cartons.