Circular economy

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Industry and the circular economy

Industry and the manufacturing sector as a whole are undergoing a period of change. Overspending on resources and a lack of sustainable criteria in basic structures have forced us to change our overall approach. Immersing ourselves in the circular economy is setting us on the path to new opportunities.

The circular economy is an economic concept related to sustainability in the field of production. This interrelationship has 2 key objectives: to reduce the extraction and use of raw materials and reduce waste.

The circular economy economic model is far broader and covers all stages of production, the interrelationship between all stakeholders, the shift from fossil fuels to renewable energies, eco-design, waste and recycling management, carbon footprints and water footprints.

The Basque Country’s 2030 Action Plan for the Circular Economy, which is aligned with European strategies, has 3 main aims:

– To increase material productivity by 30%.

– To increase the circular material use rate by 30%. 

– To reduce the rate of waste generated per unit of GDP by 30%.

How to form a strategy based on the circular economy.

There are seven points that can serve as a guide for establishing a new strategy:

– Prioritise renewable resources.

– Eco-design. Design products for deconstruction.

– Rethink the economic model and cooperate to create joint value.

– Optimise product use for greater durability.

– Repairing and reusing are essential for prolonging the service life of products.

– Promote innovation and incorporate clean industrial processes. 

– Convert waste material so that it becomes a resource again.

As a company that restores and repairs cutting tools, Manitek is part of this circle in the Basque Country’s metal industry. Tools that are restored and reintroduced into industrial life, cutting costs, reducing the use of raw materials and delaying the moment when it becomes waste material.

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