A business model that focuses on minimizing natural resource extraction and waste ... and extending the product life cycle
Circular economy provides 7 benefits to Dubai
The circular economy helps in recycling scrap or waste.
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Mohammed Al-Saadi: "Dubai's circular economy plan aims to lead the emirate in sustainable progress and prosperity, within 50 years."
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A recent Dubai Economic Report identified seven basic benefits that the Emirate of Dubai would gain from achieving its circular economy agenda, which aims to achieve sustainable development and future economic growth, noting that the economic benefits of the circular model represent great opportunities for the emirate.
The circular economy is considered an economic model for business, which focuses on reducing the extraction of natural resources, reducing the incidence of consumer and industrial waste, and extending the life cycle of materials and products in an environmentally appropriate manner.
Revenue and efficiency
The report, of which Emirates Today obtained a copy, stated that the seven benefits include: First: Providing new sources of revenue through new business models, pointing out that the best example of this is products that provide in the form of services, such as: the model of «lighting products As a service for Philips, and the reverse logistics business model.
He added that the second benefit is to improve the efficiency and effectiveness of resources, by reducing waste and waste in the manufacturing process, re-using and recycling scrap or pre-consumption waste, and reducing losses in manufacturing.
Innovate and support
According to the Dubai Economic Report, the third benefit is to enhance innovation in products and services, by achieving innovation in products such as those that are easy to repair or recycle, and by using 3D printing to reduce waste and waste.
And that the fourth benefit focuses on the positive impact on support chains, through reducing costs and reducing business risks, for example, HP, by using recycled local content or materials.
The fifth benefit is to improve the reputation and value of brand names, through alignment and compatibility with issues related to sustainability and the environment, and the pursuit of environmental protection.
Reduce consumption
The report stated that the sixth benefit is to reduce energy consumption and utilities, by designing processes to reduce the use of resources, and by focusing on devices that save energy and rely on renewable sources.
Whereas, the seventh benefit focuses on strengthening the relationships of dealers, by responding to the most environmentally aware of them, and building long-term relationships by participating in the life cycle and not stopping at the selling stage only.
Increased competitiveness
The Executive Director of the Corporate Strategic Affairs Sector at the Dubai Economy, Mohammed Sha`il Al Saadi, said that the Agenda 2021 of the Dubai Executive Council aims to promote development in all sectors, and to provide innovative initiatives to enhance government services and increase the competitiveness of Dubai.
He added that the circular economy plan for the Dubai economy is not limited to contributing to the agenda, but also seeks to place Dubai at the forefront of sustainable progress and prosperity over the next 50 years, as envisioned by the wise leadership.
Al-Saadi emphasized that the circular economy model has a positive impact on the economy, the environment and society.
New business
Al-Saadi stated that, "As for the circular economy, it provides opportunities for new business models such as product design, recycling (closed-loop), re-use, manufacturing and integrating advanced innovations to reduce waste."
He said, "With regard to the environment, this model will help us reduce waste and optimize the use of resources, especially natural ones. As for society, continuous education will help in forming a positive attitude and a culture of waste reduction."
a big role
On who can benefit from the circular economy, Al-Saadi said that this approach can be applied to all sectors, starting from the industrial sector to the real estate and construction sector, pointing out that technology plays a major role in accelerating the implementation of this model in every sector.
He explained that, for example, the use of technology in the food and beverage sector to reduce the waste of resources used in preparing food, thus providing fresh and high-quality products through agricultural sustainability.
On the other hand, he noted, structures could be built with new technologies that eliminate construction waste, support the environment that promotes sustainable development, as well as innovations in building design.
Good location
Al-Saadi mentioned that the methodology of reuse, renewal and recycling has proven its high impact in helping cities save millions of dollars, and therefore adopting the circular economy methodology is crucial for a city like Dubai.
"Cities consume nearly two-thirds of global energy, while generating about 80% of all greenhouse gas emissions and 50% of global waste," he added.
Al Saadi pointed out that the emirate of Dubai is well positioned to integrate secondary materials - obtained from recycling, especially aluminum, industry and construction - into production and assembly cycles, and in addition, the city has high potential to adopt advanced technologies to drive resource management and innovation in reducing waste. .
He stressed that Dubai can be the first in pioneering the global development of the circular economy, as achieving success in this transformation requires planning and implementation.
7 benefits
Providing new sources of revenue, through new business models.
Improving resource efficiency and effectiveness.
Promote innovation in products and services.
Positive impact in support chains, by reducing costs and reducing risks.
Upgrading the reputation and value of brand names.
Reducing energy and utility consumption.
Strengthening customer relationships by responding to the most environmentally aware of them.
The circular economy can be applied to all sectors, from industry to real estate.
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