When participating in the circular economy, businesses use leftover materials and byproducts from their own manufacturing – or from other companies, obtained in an increasingly popular process called ‘materials matching’.
To understand the circular economy, think of the old saying: “One man’s trash is another man’s treasure.” Only imagine that idea scaled up – way up – to apply to big businesses.
When taking part in the circular economy, large companies use leftover materials and byproducts from their own manufacturing – or from other businesses, obtained in a process called “materials matching”. Thanks to a greater demand for climate change solutions spurred by the Paris agreement and the evolution of intelligent software, the need for materials matching is greater than ever, according to Andrew Mangan, executive director of the US Business Council for Sustainable Development.
The Materials Marketplace is one example of how cloud-based data and software is enabling the waste-sharing economy. This online database lists unwanted products ready to find second uses. Companies can view and purchase scrap materials like textile scraps or off-spec wood flooring. Ultimately, businesses save money and byproducts are diverted from landfills. Read more...