The Importance of Government and Industry Collaboration in the Circular Economy

As the world moves towards a more sustainable and circular economy, there is a need for increased collaboration between the government and industry.

The circular economy focuses on how we could design our economies so that the products we consume are no longer made using scarce resources that could have been better used somewhere else. Circular economies aim to create a new model of production that reduces waste, enhances safety and supports economic growth. 

In Canada, we must start designing an economy that is less wasteful and more responsible for its impact on the environment. To achieve this, we must work together in creating policies that will encourage the development of a circular economy and the implementation of a circular approach.

As consumers, we’ve become accustomed to buying cheap, fast, and disposable products, but the future is about buying quality, slow, and durable goods. Governments are playing a key role in creating the infrastructure to support the circular economy. They’re collaborating with businesses, NGOs, and other organizations to build the new economy.

Governments are already taking action by introducing policies that promote the circular economy and reducing waste. At the same time, we’re seeing companies large and small adopting a more circular approach to manufacturing. But there is a need for industry to work with governments to develop solutions that are practical, feasible, and most importantly, profitable.

Hyon has been thankful to have a seat at the table with industry associations including the National Zero Waste Council, Circular Innovation Council and the Saskatchewan Waste Reduction Council. In addition, Hyon is in collaboration with the Provincial Government and Crown Corporations on strengthening its internal circular economy. It’s through joint effort that we can play a part in creating meaningful circular policies.