What is a circular economy?
Here at ReLondon, we define a circular economy as one in which stuff is kept in use for as long as possible, delivering the highest value it can, for as long as it can. So rather than making, using and then throwing stuff away (a linear system), a circular economy means looking at each of those stages for new ways of cycling materials and value back into the system – using materials and products again and again, in many different forms.
Why do we think it’s important for businesses in London?
London is a melting pot of innovation, entrepreneurship, technology and finance. It’s also a huge market which drives consumption and constantly demands new products and services. If we can harness this energy and move to a circular economy, by 2030 it could contribute over £24 billion to London’s economy.
We believe that London’s 1 million small- and medium-sized businesses (SMEs) need to lead the transition to a regenerative, waste-free world in London’s Circular Economy Routemap. Representing 99% of London’s businesses, SMEs contribute 50% of all business waste BUT they are the starting point for innovation. They’re already creating alternative choices for citizens and, with their diversified reach, they can help to mainstream new ways to consume products and materials across London.
What is a circular business model?
A circular business model creates value by applying circular economy principles to your main offering or your own operations – shaping how you design, make, distribute and market your products or services.
It’s not a one-size-fits-all; click through the diagram to explore the five circular business models we advocate for here at ReLondon.
Click on the diagram to explore our Circular Framework
What is a circular business model?
A circular business model creates value by applying circular economy principles to your main offering or your own operations – shaping how you design, make, distribute and market your products or services.
It’s not a one-size-fits-all; click through the diagram to explore the five circular business models we advocate for here at ReLondon.
Click on the diagram to explore our Circular Framework
Using Stuff Again
Repurposing either your own or others’ waste by capturing or recovering materials at the end of their first life and redistributing, reusing and/or recycling them to give them new value.
Example
BEEN London is a fashion brand turning waste into beautiful accessories. Their products are made of materials such as leather offcuts, paper made from disposable coffee cups and even zips made of used plastic bottles.
Using Stuff Wisely
Preventing waste by reducing the materials passing through your business in the first place – either because you planned what you needed more accurately, optimised your processes or eliminated the need for materials altogether! – then making the most of every bit of material you do use.
Example
KAPDAA helps fashion and interior designers, textile weavers and mills to make the most of their fabrics by transforming their offcuts into unique and sustainable branded products.
Renting Not Buying
Instead of selling an item just once, leasing or renting it out to another user for a fixed period to create revenue from repeated use, or offering access to it as a service. The ownership and maintenance, repair and recycling stays with your business instead of being passed to the user.
Example
Library of Things is a social enterprise that helps people save money and reduce waste by affordably renting out useful but infrequently used items like drills, sound systems and sewing machines from local spaces.
Sharing
A peer-to-peer model that makes it possible for individuals or businesses to lend and borrow under-used products, vehicles, buildings or other assets so they are used to their fullest potential.
Example
Meanwhile Space unlocks underused space for the benefit of community building, placemaking and enterprise. They connect wasted space with those who can make use of it, and transform unloved visible, interesting, dilapidated, or difficult buildings, into vibrant places.
Making Things Well
Designing things to be in use for as long as possible by choosing durable materials and ensuring products can be maintained, re-used and repaired. And then having a plan for the end of their life, when it arrives!
Example
Petit Pli is a children’s fashion brand that uses clever design to create garments that grow with the child, expanding across seven sizes and lasting for years.