What will it take to transform our current economic system into a circular one, and what are the challenges associated with that transition? In this podcast episode, Rosl Feldmeier from the Institute for Sustainability at Maastricht University We discuss this with business professor Nancy Bocken and Hans Stegemann, chief economist at Triodos Bank.
The circular economy is an alternative to the current linear economy, which is based on growth. We use vast amounts of resources to make things, then consume and throw them away. This system uses up limited raw materials and generates large amounts of waste. By 2050, we will have consumed the resources of three planets.
Nancy Bocken and Hans Stegemann discuss what it takes to change the current system and what the role of finance is in it.
Their main conclusion is that the circular economy is completely contrary to the logic of the current market economy, which thrives on profits and high turnover, and therefore requires a fundamental rethinking of the logic of the market, including the role of investors in the market. It is necessary to do so. Redesigning and rebuilding what we have been building for years is extremely complex and requires technological, financial, behavioral changes, and new transformations. business modelbased on new policies such as the European Green Deal.
However, although there is still a long way to go, both offer promising developments as circularity becomes more mainstream and scales up.
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