Towards net zero emissions – The role of circularity in transformers
The philosophy of the circular economy is to reuse the materials and resource demands from alternative sources such as recycling facilities instead of using raw materials from natural resources
What if economic growth and meeting the energy and resource demands of a growing world population do not come at the expense of our planet’s well-being and limited resources?
Maintaining the growth of global consumption in the long-term would require more supplies than we have to our disposal, as stated by the United Nations Sustainable Development Goals, number 12: Ensure sustainable consumption and production patterns .
Moving away from the traditional linear value creation and adopting a circular mindset will facilitate continued economic growth. Circularity means that instead of using natural resources and raw materials into products that end up as waste, they can be reused to a larger extent.
Circularity in practice implies reducing waste to a minimum; reuse, recycle, or keep within the economy, wherever possible, the product components and materials at the end of its life, productively using them again and again, shifting from the linear economic model that has traditionally relied on large quantities of resources available (relatively affordable, easily accessible materials and energy).
This concept is known as the circular economy and is applicable at any level, either individual, corporate, regional, or global. Its implementation requires a systematic approach, collaboration, and focus, merging sustainability with business development with the goal to minimize environmental impact while at the same time maximizing the value creation for society.
Such an economy is based on a few simple principles coming from products designed and optimized since their conception for disassembly, reuse, or recycle.
The impact of pioneering circularity solutions in the energy sector could be significant, and the different stakeholders need to come together to drive the change towards a more sustainable future. This should be a joint effort of the whole industry, with technologists, manufacturers, and users partnering to make it happen. Industry standards and evaluation criteria also need to match the changed priorities and factor societal responsibility into the equation, to include sustainable and circular value creation solutions.