sense of urgency , and competition between member EU states to decrease waste , generate new wealth and create new technological processes , reshaping the nature of the marketplace .
THE MOST IMPORTANT IDEA OF 21ST CENTURY ECONOMICS
WHY A SENSE OF URGENCY ? In the context of whole systems thinking , in the past 40 years , humans have consumed more natural resources than since we stood on two legs . According to the EU Commission , based on current resource use trends – there is simply not enough left to meet future use trends unless three new Earths are discovered !
But as those who work intimately with waste know there are millions of tonnes of materials , parts , and products in circulation that have already been invested in , comprising of valuable resources with a carbon footprint , and the potential for new economic value in the market place .
COMPREHENSIVE GOVERNMENT RESPONSE TO COMPLEX RISK Importantly the development and implementation of the EU Commission circular economic packages of 2015 , represents a cohesive response from government , industry , and civil society to eliminate and mitigate a complex variety of actual risks that have emerged -particularly as climate change impacts increase , as well as waste generation . and is designed to deliver sovereign , commercial , human and ecosystem health risk management strategies for the 21st century .
Without prejudice , there is increasing evidence that systemic policy failure to adequately address risk , does and will continue to have a direct economic impact into the future .
For example a study produced by Plymouth Marine Laboratory , published in March 2019 titled ‘ Global ecological , social and economic impacts of marine plastic ’, estimates the cost of plastic pollution to global fisheries ( excluding costs to other sectors i . e . tourism ) at $ 2.5 trillion per annum .
Certain plastics / micro fibres can last for more than 100,000 + years in the environment . The economic cost and loss will be unfairly compounded over successive generations .
Circular Economic Systems thinking identifies a healthy ecosystem as essential to ongoing economic viability of the fisheries sector .
Without prejudice , there is increasing evidence that systemic policy failure to adequately address risk , does and will continue to have a direct economic impact into the future .
MACRO REFORM The EU circular economic framework focuses on reducing high risk applicable to supply chains influenced by geopolitics ,
Current examples of poor waste management include plastic particulates in the air , ice sheets , waterways & oceans , and the human body .
Australia , US , & Russia are experiencing increasingly extended bushfire seasons resulting in high levels of resource and infrastructure loss , and all residuals being landfilled .
Regardless in Australia we continue to increase demolition and destruction of built infrastructure , products , and materials , which are known to deliver linear outcomes of irreplaceable resource depletion and extinction events .
Such outcomes are unintended consequences of 20th century linear economic policy post the Great Depression and the Second World War . The circular economic model manages complexity
Above : Rotor DC second-hand building materials retail outlet , Anderlecht Brussels . Rotor DC demonstrates the value of macro circular economic reform delivered through the development of Waste Directives leading to Construction and Demolition Protocols , and market realisation of higher economic value in secondary materials supply chains .
VOL 13 NO 2 2020 12 www . edaustralia . com . au