A circular economy model maximizes the lifecycle of products by recycling, repairing and reusing materials for as long as possible. The goal of the circular economy is to maximize the value of existing products to promote sustainable consumption, decrease waste and reduce pressure on the planet’s limited resources. This contrasts with a traditional linear economy model, also known as a “take, make and waste” economy, where products are disposed of at the end of their useful life.
Many businesses have shifted to a circular economy model to improve sustainability and profitability. In the context of technology, this includes making sustainable tech choices — such as choosing energy-efficient devices and working with an IT asset disposition partner to recycle or remarket your hardware when it’s reached the end of its life. By transitioning to a circular economy, businesses can meet their sustainability goals while reducing costs associated with production, materials and waste management.
