16 Feb India Could Become The World’s Circular Economic Leader
If developing economies, like India’s, follow the same consumption habits as developed nations, there’s a concern among scientists and economists that the globe’s environmental issues might worsen significantly, according to Fast Company. The publication notes that if, for instance, the developing world followed in the developed world’s footsteps and picked up our collective shopping habits, then carbon emissions from apparel production would jump by 77 percent by 2025. Water consumption would also increase by at least a fifth, as well.
However, if these developing nations decided to pursue more circular economy models—such as relying on Zipcars or public transportation instead of owning personal cars—then they might become true circular economic leaders, helping to mitigate the planet’s more critical environmental issues. A report from the Ellen MacArthur Foundation and the United Nations Conference for Trade and Development noted that if India opted to adopt a circular economy model right now, it could effectively bypass any of the challenges associated with linear models and infrastructures. “As the systems that provide housing, food, and mobility require development… the country could realize significant value by developing them in a circular, rather than a linear, way,” the report notes.
If India adopted a circular economy model, the country could generate $218 billion in economic value by 2030 within three specific categories: cities and construction, food and agriculture, and mobility and vehicle manufacturing. Additionally, if India adopted more circular principles, it could cut greenhouse gas emissions by 23 percent by 2030 and reduce the consumption of virgin materials by 24 percent by 2030, as well. By adopting these policies, India could become a world circular economic leader, potentially bypassing other, more developed and linear-oriented nations. “This advantageous starting point could provide India and other high-growth markets with a competitive advantage over those economies,” the report says. Governments and companies across the world are actively working to reduce their consumption of important resources. Companies that are interested in reducing their waste generation should contact Good360. We specialize in partnering companies with excess goods or products with nonprofits in need of those particular items. Learn more here.