Resourcing the circular economy

We support businesses on the journey to Net Zero by helping them take practical action that will save money and CO2. We are recognised global specialists in applied industrial symbiosis, which is a key component of the circular economy.

But what is a circular economy, what is industrial symbiosis and why should we care?

The Draft Circular Economy Strategy for Northern Ireland was published in 2022 and provides a useful definition: “A circular economy strives to make better use of materials, components and products through a whole-lifecycle and whole-systems approach. This enables reduced resource use and waste prevention, while keeping products and components in use for longer before, eventually, recycling the materials that they are made of.”

(NI Department for the Economy, 2022)

The strategy highlighted that:

1. The delivery of a circular economy strategy in NI will be a key enabler of the 10 X Economy Strategy and the Draft Green Growth Strategy with innovation, efficiency, net zero and growth opportunity for NI businesses.

2. The circular economy represents an incredible way to de-risk your business supply chain (we are over 90% reliant on virgin materials in NI and by 2050 these will all be used up at current levels of consumption).

3. We need to cut our material footprint in half by 2050 if we are to achieve Northern Ireland’s goals for Net Zero.

4. The key industries are bioeconomy, advanced manufacturing, construction, tourism and hospitality.

5. Industrial symbiosis represents a fast and practical way for business to engage in the circular economy today with huge upsides in cost savings, job creation, innovation and improved environmental impact.

We specialise in helping businesses to reduce their reliance on virgin materials, reduce their waste going to landfill, reduce

CO2e emissions and save money in the process by matching unwanted resources from one business with another business who wants them.

This is what the circular economy is all about and our service, ‘Resource Matching and Efficiency’, is the main way we deliver these benefits to business.

For the more technical reader, you will know this process is called ‘industrial symbiosis’. If you’re just finding out about this for the first time, don’t worry about the jargon, we’re just here to improve your environmental impact and your financial bottom line.

So, how can you get started on your journey towards becoming part of the circular economy in NI?

In the current economic climate all businesses are reviewing their cost base and this is the perfect time to explore how you can benefit from the circular economy, reaping the rewards of reduced supply chain risk, increased competitive advantage, reduced material and waste costs and reduced environmental impact.

A good first step is to book a free advisory visit as part of the Invest NI Resource Matching Service.

One of our sustainability advisors will visit you to assess opportunities to make your resource usage more efficient and match your business with solutions that save you money and keep your waste resources in the circular economy and not in landfill.

Does industrial symbiosis actually work?

Since 2007, the Resource Matching Service has demonstrated excellence in collaborative resource management serving industries including manufacturing and supply, food and drink, social enterprises, leisure, logistics, events, hospitality, aerospace and construction. We value relationships with business owners and professionals and look to build on our expertise as well as continuously adapt to factors that affect fluctuations in market conditions.

What are the opportunities for your business?

Harness technical, regulatory and industry knowledge

• Achieve on-going cost savings leading to increased profits

• Reduce waste disposal costs to help achieve sustainability

• Increase productivity and reduce operating costs

• Generate economic and environmental benefits within financial constraints and regulation

• Create sustainable relationships with solution providers

• Utilise skills, unrealised resources, imagination and creativity for product development

Trial new technologies and innovative working practices

• Impact organisational culture with best practice for business and the environment

The Resource Matching Service is operated by International Synergies NI on behalf of Invest NI. For information visit: www.investni.com/industrial-symbiosis or www.international-synergiesni.com.