Savings from the Circular Economy

Perhaps you’ve heard of the expression ‘Circular Economy’.  It’s the term to describe when industries, manufacturers and consumers do everything possible to eliminate waste and reduce their consumption of resources.  It’s about:

• Designing better products that last longer and are repairable
• Using renewable energy for everything, and conserving water and other resources at every step
• Focussing on functional, not frivolous
• Sharing, leasing, reusing, repairing and refurbishing everything as long as possible
• Recycling everything possible at end-of-life

Essentially, it’s economic development that benefits business, society and the environment.  I’d summarize it as creating value without making a mess.

Overconsumption is one of the key drivers of pollution of all types, including climate change.  We’ve just come through the second worst time of year for overconsumption – Black Friday and Cyber Monday – and are now facing the worst, Christmas.  I don’t mean to be a humbug, but it’s interesting how a faith-based holiday has evolved into an economic feeding frenzy.  Too much stuff; stuff you don’t want; poor quality stuff that doesn’t last; and lots of bills to pay afterwards… sound familiar?

So, in your sphere of influence as a consumer, why not practice principles of the Circular Economy this holiday season?  It need not be that complicated:

• Ease shopping stress and pressure by establishing and communicating a family limit on numbers of gifts, for fairness, savings and a much more pleasant holiday (I can hear the sighs of relief!)
• Buy local products instead of products that have travelled long distances
• Buy at local and locally-owned stores to keep your money in your community, instead of online or at big box stores, where most of your money goes to benefit someone else’s community.  (I’m a big fan of co-operatives like this one, owned and managed by members for the benefit of members and their community; and small businesses like this refillery.)
• Check out thrift stores in your area: many have very nice selections, and all have really great prices
• Make or bake something yourself, for an unmistakeable personal touch that will be more appreciated than ‘made in China’.  For example, over the years, our family has received many homemade Christmas decorations that have become favourites on our tree.
• Focus on quality things that are really needed and will be appreciated, rather than random stuff that just checks a box and occupies space under a tree
• Give the gift of time: visit or call someone who needs connection and affection more than stuff
• Give experiences, like local theatre or tourism attractions
• If you have to buy new, look for brands that are striving to be more sustainable

A few years ago, my wife suggested a family Christmas rule of “local, thrifted, homemade or regifted”.  We’ve been abiding (mostly) by that ever since and not only has it saved money and been better for the planet; it’s reset our holidays back to having fun and making memories with those we love the most.

So – why not keep Circular Economy thinking in mind this year as you prepare for the holidays?