Circular EconomyCircular Economy
The City of Richmond’s proposed vision for the circular economy is to maximize the value of resources, by design, through responsible consumption, minimizing waste and reimagining how resources flow in a sustainable, low-carbon economy.
Explaining the Circular Economy
The current linear economic model for the production of goods and services is based on raw material take-make-use-dispose. This model that seeks to boost short-term consumption is leading the planet to an unsustainable situation.
Linear Economy Model
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If the consumption of natural resources remains in the linear model, the reserves available for some materials will be depleted in a few decades. Coupled with inadequate waste disposal, this over-exploitation of natural resources has also led to environmental problems such as climate change, soil contamination, natural capital lost and human health problems. Thus, it is necessary to rethink the use and application of resources, energy and other assets in our economy and communities.
The paradigm of the take-make-use-dispose system is strongly challenged by the life cycle of nature and conflicts with sustainable development. In nature, there is no waste or landfill: all materials and elements fulfill a function continuously in the ecosystems and are reused in different steps.
Circular Economy emerges as a counterpoint to the linear model. This new model combines economic growth with a development cycle that preserves and enhances natural capital, optimizes resource production and minimizes risk through the management of limited resources and renewable loops. Additionally, it enables companies to reduce production costs and losses, generate new sources of revenue and reduce their dependence on natural raw materials.
Preliminary circular economy diagram, created by the City of Richmond
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Integrating Circular Economy into City Procurements
In May 2019, Council approved a plan to integrate circular economy practices into the City’s procurement process. And while this latest work has just begun, the City has focused on increasing the use of environmentally-sound products and services since at least 2000. Learn more from the following reports.
|Date||Report||Agenda Item #||Meeting Minutes|
|May 27, 2019||Integrating Circular Economy Criteria into City Procurements||10||Minutes|
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