Circular economy is one of the solutions to the world’s environmental challenges. The industrial sector has the preconditions for it, but it all comes down to data and how it can be combined and shared.
The industrial sector has good prerequisites for succeeding at circular economy. Service business typically accounts for more than half of equipment manufacturers’ total sales. Lifecycle solutions are worth developing in cases where the designer and manufacturer is also responsible for the equipment’s operation and maintenance.
However, why would anyone make circular economy-friendly decisions at the component level unless it can be shown to add commercial value? So far, we have no tools to assess the cycle from value generation to fair value distribution – we require new types of ecosystems and cooperation between different fields.
In circular economy, success boils down to data and its combinability and open distribution across different platforms.
In circular economy, success boils down to data and its combinability and open distribution across different platforms. Furthermore, since consumers play a key role in circular economy, the need for facts-based communication is emphasised. Here, as researchers, we need to challenge ourselves.
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