Is your waste a waste? Rethinking the linear economy
Way, Tan Kar. Kai, Marcus Ong Jiong. Ho, Sijie & Kan, Michelle
Location
SMU
Link:
Abstract
This report explores the broader implementation of circular economy principles to manage waste sustainably across various industries. It emphasises the potential for transforming waste from a problem into a resource by integrating innovative recycling processes, efficient logistics, and government-supported regulations. The study examines key barriers to circular economy adoption, such as economic challenges related to the high costs of recycling, logistical inefficiencies in reverse supply chains, and the lack of regulatory frameworks in many regions. Successful case studies, particularly in the European Union and the US, demonstrate the positive impact of extended producer responsibility (EPR) schemes and strong regulatory oversight, leading to higher recovery rates and resource valorisation. The report highlights the importance of collaboration between governments, industries, and logistics providers to create a closed-loop system that minimises waste and promotes sustainable practices. It also discusses the environmental impact of inadequate waste management, including pollution and resource depletion, and the need for innovative recycling technologies, such as pyrolysis and reuse in various applications, to reduce the environmental footprint. The research suggests that overcoming economic, logistical, and regulatory challenges is critical to advancing circular economy models and achieving sustainability goals across multiple sectors. This analysis provides an overview of circular economy strategies, focusing on their potential to create value from waste, reduce environmental harm, and support sustainable development through effective policy implementation and industry innovation.