Sakif Shamim: The global rise in industrialization and population has made waste management a significant challenge. Piles of waste are accumulating in landfills, negatively affecting the environment, while raw materials for various industries are becoming scarce. To address this dual challenge, it's essential to move away from the "use-and-throw" linear economy model and adopt the circular economy, or "reuse and recycle" model. This new model protects the environment and transforms waste into a valuable resource, opening up new avenues for economic growth.
The circular economy is a powerful economic model focused on maximizing resource use and reintroducing waste into the economic system. Unlike the traditional view of waste as a worthless substance, this model sees it as a raw material for new products. The philosophy is built on three core principles: designing products to be free of waste and pollution, extending the lifespan of products and raw materials through repeated use, and regenerating natural systems. This approach completely reverses the one-way flow of the linear economy.
We can observe how the circular economy works in our daily lives. For example, by reusing plastic bottles or packets instead of throwing them away, we extend their lifecycle. Repairing broken furniture for reuse eliminates the need to cut down new trees. Old clothes can be repurposed into new products, and separating organic waste at home to make compost can be used in agriculture. These small daily habits bring the circular economy to life.
This model transforms waste into new raw materials and assets, reducing production costs while creating new jobs and business opportunities. Ultimately, the circular economy helps build a future where economic growth and environmental sustainability are complementary.
The circular economy offers numerous practical applications and benefits. For instance, new plastic products can be made from plastic waste, valuable metals can be recovered from old electronics, and organic waste can be used to produce bio-fertilizer and biogas. Similarly, recycling batteries can recover valuable metals like lead, lithium, and nickel, which are then used to make new batteries or in solar energy storage and electronic devices. This not only reduces pollution but also saves foreign currency by decreasing reliance on imports.
These methods reduce the pressure on natural resources and lower waste disposal costs. The process begins with proper waste segregation and collection, followed by processing at recycling centers. This forms an organized supply chain that delivers waste as a "raw material" to industrial factories.
As a developing country, Bangladesh's rapid economic growth is accompanied by an increase in urban waste. Utilizing this waste properly could unlock a new potential for the country's economy. The waste collection, processing, and recycling industries could create significant employment opportunities, with participation from local communities in small- to large-scale initiatives. Exporting recycled products, such as reusable yarn or plastic granules from the garment industry, can also earn foreign currency.
A crucial aspect of the circular economy is product lifecycle management. Products with a short lifecycle (e.g., plastic bottles, single-use items) must be returned to the recycling chain quickly. In contrast, products with a long lifecycle (e.g., furniture, electronics, vehicles) can be reused multiple times through repair, remanufacturing, or upgrading. Properly managing both types of lifecycles can maximize the benefits of a circular economy.
The circular economy will reduce reliance on natural resources and make the country's environment more sustainable. It will also decrease pollution and help preserve biodiversity. By relying less on imports for industrial raw materials and using domestic sources instead, production costs will fall, leading to greater economic stability. The primary goal is not just to utilize waste but to facilitate a comprehensive process that helps restore nature to its normal state. When we use fewer natural resources and produce less waste, the pressure on soil, water, and air is reduced.
For example, using organic waste as compost increases soil fertility and supports agricultural production. This, in turn, reduces the use of chemical fertilizers, which is very beneficial for the environment. Recycling plastic waste instead of dumping it in rivers or oceans lessens its negative impact on aquatic life. This is a direct process of regenerating nature, creating a positive cycle where economic activity and environmental protection are complementary.
The journey toward a circular economy faces several challenges, including a lack of necessary infrastructure for waste segregation, low public awareness, and limited investment in this sector. Overcoming these challenges requires a coordinated effort from both the government and the private sector. The government must formulate clear and effective policies to encourage waste management and the recycling industry. Extensive public campaigns are needed to raise awareness about waste segregation and recycling. Both public and private investments should be encouraged to use advanced technology in waste processing.
Generating revenue from recycling is a viable economic model that can lead Bangladesh toward a sustainable and prosperous future. The successful implementation of a circular economy will not only bring economic gains but also ensure a clean, pollution-free, and livable environment.
— Author of this article is the Managing Director of Labaid Cancer Hospital & Super Speciality Centre and also Deputy Managing Director of Labaid Group.
