The Sustainabilist | E-COMMERCE
FEATURE
Unlocking the Full Potential of the Circular Economy The five key circular business models and the value they bring By Massimo Cannizzo CEO and Co-founder of GELLIFY Middle East
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worrying 2.12 billion tonnes of waste is what we produce every year, partly because we only use 1% of what we buy and the other 99% is trashed within six months. The global waste is projected to pile up by 70% in 2050, creating as much as 3.4 billion tonnes of trash annually. Upon realising how we overuse the earth’s capacity, several green companies have moved away 52
from the linear economy, the current economic model based on ‘take, make, waste’ approach used by most businesses, to the future – the circular economy. Aimed at eliminating waste and the continual use of resources, a circular economy not only allows the natural environment to regenerate, but it also allows us to benefit from manufacturing and economic growth. According to reports by Strategy & Middle East, it is estimated that GCC cities could save $138 billion and 148 million tonnes of C02
emissions between 2020 and 2030. Such sustainable system that yields enormous environmental, social and economic benefits, follows a guiding principle to retain product value by repairing, reusing, and recycling. To accelerate the transition towards a circular economy, businesses need to unlock the value and leverage the entire spectrum of circular business models to maximise the potential. Five Key Circular Business Models:
