1st BDPF International Conference on Sustainable Circular Business, Technology and Societies (ICSCBTS) 2022

Abstract

Circular Economy (CE) is not only a question of economy, or environment, or even production; it is a triangle. The CE combines concepts such as economy, environment, production, and society. A Circular Economy (often referred to simply as circularity) is an economic system aimed at eliminating waste and the continual use of resources. A circular economy is a system of resource utilization where reduction, reuse, and recycling prevail. A CE is in contrast to the traditional linear economy. The economy of Bangladesh has been linear for a long time, where raw materials are used to make a product. After its use, any waste, such as packaging, is thrown away into the environment since the environment is considered a free ride in a linear economy. However, we are consuming a finite supply of material resources, producing toxic waste for the environment, which can't be continued for long. It is time to break from the 'take-make-use-dispose' pattern of growth. The concept of 'circular economy (CE)' is about closing this loop. It is based on the principle of a natural ecosystem where there is no waste output focusing on reducing, reusing, and recycling the elements. CE follows the 'Raw material-design-the production- remanufacturing-distribution-consumption-repair-reuse-residual waste-recycling' growth pattern. In Bangladesh, to ensure the required food, water, and prosperity in the coming years, it is high time to switch from a linear to a circular economy for some reasons, such as the large population and its impact on the environment, constraints of resources, and protection of the environment from all kinds of pollution such as Bangladesh is now one of the top twenty plastic polluting countries in the world.