The bloody and uncaring extraction of the world’s resources has jeopardised the global ecosystem, and the quest of civilisation to manifest the empire of opulence has havocked the symmetry of nature. It causes me to wonder how long this 'extraction economy' will last. As per a UN Intergovernmental Panel report, the world has only 12 years left to limit global warming to a maximum of 1.5 degrees Celsius. A similar study by the UN in 2019 inferred that 1 million species were on the brink of extinction. Unexpected climate change and heat waves that were experienced never before have already baffled inhabitants. With all the alarming consequences identified in reports published by pro-environmentalists, scholars and scientists, it should now be our global agenda, mandatorily encapsulated in the country’s policy, to bring a paradigm and pragmatic shift from a linear to a circular model of production and consumption.

Breaking the perennialism of the linear economy which focuses on take-make-dispose to the circular concept of take-make-reutilise is a must for the sustainability of business entities and the wellbeing of human civilisation. However, the contemporary cannibalistic market orientation which has made the competition blood red has neglected the possibility of an exuberance economy, a state where a balance of triangularity between people, planet and profit exists.

Ecstasy of exuberance

A circular economy will lead us to the ecstasy of exuberance, as it is a process of re-looping the resources back to the production and consumption cycle so that the frequency of utilisation and value is increased. This type of economy focuses on healthy and ethical use of resources. And importantly, the concept of a circle economy goes above and beyond the 3R approach (reuse, recycle and remanufacture) that most individuals think.

This ideology must be changed. A circular economy is not only about waste management, it instead focuses on resource management. Rather than waiting for products to become scrap and be collected, a circular economy emphasises proper planning from the early designing phase in order to extend the life of a product, and thus limit waste production. For example, smartphones designed with a modular concept can facilitate repair and maintenance. If you have a problem with the screen, rather than trashing it, one could go get the module from the market and fix it.

The existence of a sharing economy is another enabler of a circular economy. Excess underutilised resources would be shared instead of keeping them idle. Ride sharing companies like Uber, Lyft and Tootle in Nepal have provided a new way to commute. In addition to the commuter’s convenience, this may also decrease the demand for new vehicles and would make public transportation spacious and safe. A sharing platform creates a gig economy, ultimately generating employment which strengthens the economy. The European Union has policies that contribute and support a circular economy. Countries like the US, China and Japan are diligently working on it. But the level of awareness related to a circular economy in Nepal is miniscule. The approaches being taken are inclined to focus on waste management rather than an early and timely planning of resources.

It is essential for Nepal to start practising the principles of a circular economy. First and foremost, the government should make a note on the circular economy. The circular economy methodologies being applied in other countries could be researched and learned, declaring financial incentives will bring positive externalities to attract businesses into the mainstream of a circular economy. Rules relating to extended producer responsibility, reusing, recycling and remanufacturing will support the management of waste throughout the country.

Responsible consumers

Secondly, the responsibility to foster this economy should also be taken by the corporate C-suites and conglomerates of Nepal. With their deep pockets and significant cash cushions, they should not hesitate to invest in research and development which has been a low priority. A well-designed product facilitates longevity as well as easy dismantling and collection after the end of its use. And finally, it is our individual responsibility to be responsible consumers. A small change in our habits can bring about tremendously positive ramifications. Activities like planting a tree on a birthday, not using plastic straws, using reusable and biodegradable bags for shopping, interacting and making people more aware of resource protection possibilities are examples of ways in which the proliferation of a circular economy can occur.

A circular economy supports manufacturers and service providers as a lower cost of production can be attained through well-planned products and efficiently used 3R approaches. Additionally, it enhances the brand image of a company, which in turn, equates to getting a competitive edge. Further, limited extraction of the world’s resources reduces our environmental footprint. Overall, a healthy environment contributes to the common good for all stakeholders. A circular economy can be practiced in any industry and by any firm irrespective of its size. Entities like the UN, World Bank and Asian Development Bank should provide financial, non-financial, technical and non-technical assistance for Nepal’s transition from a linear to a circular economy.

***

What do you think?

Dear reader, we’d like to hear from you. We regularly publish letters to the editor on contemporary issues or direct responses to something the Post has recently published. Please send your letters to [email protected] with "Letter to the Editor" in the subject line. Please include your name, location, and a contact address so one of our editors can reach out to you.