Page 28 - Dainfern Precinct October 2021

LIFESTYLE

Fewer sales could mean

higher profits

BY WALE AREWA, XPERIEN CEO

Join the circular economy – reduce the global
e-waste problem and optimise the lifecycle of
IT hardware.

usinesses don't need to sell Adopting the circular economy Manufacturing new phones is a
more products to increase approach has real benefits resource- and energy-intensive
Brevenues, they should rather for businesses and the planet. process. However, the circular
focus on selling higher quality Recovering resources through economy changes this model, as
products with a longer lifespan. recycling or remanufacturing can it keeps resources in the economic
The key lies in the circular economy, result in massive returns – in fact, system for longer and at the highest
which not only promises higher many businesses have realised value possible. Therefore, electronic
profits but supports sustainability by increased benefits from making items keep most of their value when
enabling economic growth with lower products from e-waste. reused or recycled.
resources.
Discarded phones, as an example, Consumers are also starting
The circular economy is about are full of valuable materials. There to embrace the idea of keeping
reducing waste by recovering is 300 times more gold in a tonne of products for longer, reusing
and reusing resources. It requires phones than a tonne products or even purchasing
changing product designs and of gold ore. recycled electronics. There is already
production where the waste Unlike the linear an opportunity where people no
becomes feedstock for new economy, longer need to purchase a phone
products. It's not a new concept, but the circular or upgrade it every so often.
it has received a huge amount of economy When it comes to sustainability
attention as climate change and captures the in smartphones, innovators like
limited natural resources become value of old Fairphone have created modular
increasingly critical. phones and phones that excel in the four areas
they don't of production, modularity, longevity,
THE NEED FOR RECYCLING become waste. and recyclability.
Less than ten percent of resources
that enter the global economy are More companies are now embracing
recycled, the rest is discarded circular business models to create
and often replaced with more valuable businesses that
new items. Here’s an utilise resources more efficiently,
example: there were while developing superior products
more than 1.5 billion and services. Improving asset
smartphones sold utilisation by designing products
worldwide in 2019 that can be used more than once,
and, according to can improve margins.
a survey, almost
half of the US Adopting the circular economy
smartphone users way of thinking in business
upgraded their will not only drive increased
phones before their financial returns, but it will
‘old’ phones stopped have a positive impact on
working. A concerning society and the environment.
factor is that most of
these discarded phones
go to landfills. Wale Arewa, Xperien CEO
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