At the Paris Climate Summit in 2015, 196 countries signed an agreement to create a better future. Australia, being one of those countries, as part of this commitment, is implementing an economy-wide target to reduce greenhouse gas emissions by 2030 while promoting circular thinking for businesses across all sectors.
Tackling planetary challenges such as resource depletion and climate change means changing the way businesses function in industrialised systems. Instead of digging up materials, using them once and then throwing them away, companies committed to a more circular economic model aim to recapture those resources in their value chain to use them again and again.
With sustainability at the core of its practice, a circular economy implies reducing waste to a minimum as well as reusing, repairing refurbishing and recycling existing materials and products. With the Australian government aimed at moving towards a more circular economy to reduce pressure on the environment, it would be expected other benefits will include enhancing security of supply of raw materials, increase competitiveness, innovation and growth, and create jobs.
Material-specific targets including reducing plastics and waste while improving recycling and other recovery are expected to be the best environmental outcome from a circular economy movement. Investing in ways to secure renewable energy and sourcing sustainable materials, with businesses adopting circular thinking in their processes are expected to support this movement.
As one of the latest GTI target sector additions, the Australian government is clearly committed to sustainable economic and social development.
With innovation at the forefront of this brave new world, sustainability is now the key driver of technology to discover what circular thinking can do for businesses. The Department of Home Affair’s GTI visa, the program that promises the fastest route to permanent residency for those working in future-focused fields are inviting those promoting the practice of circular economy to support Australia’s initiative towards a sustainable environment.
