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The current linear economic model has created a number of problems in the past century (such as resource consumption, climate change, reduction in biodiversity). It currently seems that finding solutions to these issues has been postponed to subsequent generations. “Business as usual” will lead to existential crises in the foreseeable future. The transition to a circular economy represents an approach that has been discussed for decades and is currently gaining increased (political) relevance. Circular value creation involves a radical re-examination of the relationships between markets, customers and natural resources. Not only can fundamental threats be countered (see reducing the ecological footprint), it also opens up great opportunities for companies. A decoupling of economic growth and resource consumption offers security and independence in times of supply collapses and volatile raw material prices. An expansion of the operational value chain beyond production and sales to use and return (see “reverse logistics”) increases customer benefits and opens up new business opportunities.
Currently, the #greendeal of the EU includes an ambitious action plan to move towards a circular economy by reducing waste, emissions and resource consumption as well as by achieving competitive advantages. This economic shift has the potential to create a large number of new jobs.
We currently work on the following questions:
How can we design circular product innovations or redesign existing products (keyword: circular design) / @Campus Kuchl
To what extent are principles of circular value creation currently being implemented by Austrian companies – a best practice inventory / @Campus Kuchl
How to nudge consumers towards more recycling, upcycling or waste reducing behavior?