Experts have called on the government to invest in and support circular economy systems that create jobs, address improper waste management, and protect the environment. The circular economy is an economic model designed to eliminate waste and pollution by keeping materials in use for as long as possible.
According to a report from the Ellen MacArthur Foundation, transitioning to a circular economy could generate significant economic benefits, including job creation in sectors such as recycling, repair, and remanufacturing. The foundation estimates that circular economy practices could reduce greenhouse gas emissions by up to 39% by 2050.
In a recent statement, environmental groups emphasized that investing in circular economy infrastructure, such as composting facilities and recycling plants, could create thousands of jobs while reducing the amount of waste sent to landfills. They also noted that improper waste management costs the economy billions annually in cleanup and health-related expenses.
The government has not yet announced specific plans to increase investment in circular economy initiatives, but officials have indicated that sustainability is a priority in upcoming budget discussions.
