Circular economy and Bangladesh
Circular economy: An overview
In light of the pressing need to address increasing pollution and climate change, the Circular Economy, an economic model that places a high priority on resource efficiency, waste reduction, and regenerative activities, is one approach that shows great promise.
The Luddites, a group of British textile workers in the early 19th century, protested mechanisation, fearing job losses and advocating for more efficient resource use. Their concerns align with the evolving concept of circular economy, which emphasises resource efficiency and minimising waste.
A sustainable and regenerative alternative to the conventional linear "take-make-dispose" model, the circular economy offers a revolutionary approach.
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According to World Bank forecasts, global solid waste creation is predicted to rise by 70% between 2016 and 2050. However, we may lessen this resource strain by adopting circularity and encouraging trash reduction, recycling, and reuse.
Environmental challenges in Bangladesh and the need for Circular Economy
Dhaka, the capital of Bangladesh, has continuously been ranked among the world's most populous and polluting cities. The economy of Bangladesh is expanding quickly but at the cost of its natural resources. The environmental resources in Bangladesh are at stake, especially in Dhaka city.
Among all other natural resources, land and water resources are two of the most stressed natural resources due to unplanned urbanisation, rapid industrialisation, unsustainable consumption and production, etc.
One of the biggest problems this rising economy is experiencing is the unsustainability of its natural resources. Therefore, recycling and reusing the waste materials will certainly reduce the adverse impacts on the natural resources.
Using circular techniques in our current linear consumption and production process can reduce global greenhouse gas emissions by 39% (22.8 billion tonnes), according to the World Resource Institute (WRI). In the context of Bangladesh, the World Bank Group (2022) reported that about 646 tonnes of plastic waste are collected daily in Dhaka, and only 37.2% of the plastic waste in Dhaka is recycled.
Moving forward, Bangladesh created the National Action Plan for Sustainable Plastic Management with the lofty goals of 40% plastic recycling by 2025, a 90% reduction in single-use plastics by 2026, and a 30% reduction in plastic waste output by 2030. Due to excessive and improper dumping of wastes in the land and water resources, the assimilative capacity of ecology, ecosystems and biodiversity is decreasing day by day.
We need to ensure sustainable economic development in this current context of pollution and climate change. To do so, the circular economy plays a vital role in stimulating economic growth in a sustainable way. Bangladesh has yet to adopt the concept of the circular economy. For this shift to happen, both ethical consumers and responsible businesses must grow. Companies must be held accountable, as disregarding regulations will hinder the adoption of the circular economy.
In the recent decade, Dhaka, along with other cities, has turned out to be an urban heat island because of increasing temperatures. Therefore, the shrinking of water bodies and improper functioning of the ecosystems due to indiscriminate dumping of waste will not only degrade the environment but also trigger the phenomenon of climate change, and thereby the people will be the ultimate sufferers.
The economic activities need to be increased in such a way that it will not affect the natural resources. To reduce the pressure on environmental resources, the government should concentrate on establishing a circular economy by embracing the 3Rs (recovery, recycling, and reuse) strategy in order to lessen the strain on our nation's natural resources, particularly in Dhaka city, and promote sustainable development.
Henceforth, in response to the carbon-neutralisation policy, the zero-discharge principle, which calls for the recycling of all industrial waste and wastewater, should be strongly implemented. On the contrary, to follow the path of a circular economy, the waste recycling cost has to be low so that industries and firms become encouraged and adopt the techniques of recycling procedures; otherwise, they will act as free riders in case of using any natural resources, which will be detrimental for the economy, environment, and society.
Effective circular economy management supports the Sustainable Development Goals (SDGs) by tackling global challenges like clean water and sanitation (SDG 6), sustainable cities and communities (SDG 11), and climate action (SDG 13). It also aids in no poverty (SDG 1), good health and well-being (SDG 3), decent work and economic growth (SDG 8), and industry, innovation, and infrastructure (SDG 9).
It is high time the government prioritised the conversion of waste into energy and ensured the sustainability of natural resources for the betterment of the country's people and economy. The government should invest in recycling infrastructure, such as collection centres, sorting facilities, and recycling plants, potentially through public-private partnerships.
To ensure economic growth in the long run, we have to protect the environment because our environment possesses economic value, which is very much essential for economic development. Hence, the implementation of a circular economy will not only protect the environment but also create jobs in the informal sectors, reduce pollution, and lessen the adverse impacts of climate change.
Dr Wasim Akram is an Assistant Professor and Md Mominul Islam is a Lecturer at the Department of Economics in Southeast University
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the opinions and views of The Business Standard.
