Chartering new Waters: The world of Circular Economy

As someone who has worked for 5 years in the consumer industry, I was aware that this industry is one of the biggest contributors to emissions and waste, and without their active actions, little progress will be made towards net zero. The question that often came to my mind was “Why do corporates have to create so much waste and then clean it up? Why can’t the systems be reengineered in a way to systematically reduce waste during the process?” In other words, why are corporates investing behind offsetting their negative impacts rather than adopting strategies to mitigate the impacts? And this lingering question was one of the key reasons of selecting a project based on consumer climate tech. This project has helped me delve into the answers to my question, as I charter into this whole new world of insetting, the idea of circular strategies into the corporate value chains to mitigate emissions and waste. For a long time, corporates have invested billions behind projects to offset their negative climate impacts and are often accused of “greenwashing” and of not doing enough to mitigate emissions and waste. This linear method in fact is not enough to reduce negative externalities, and our key job is to use research to create a case for investment into circular and regenerative principles to inset climate change within the corporate value chain. 

As I continue to research into circular and regenerative principles in the context of corporate supply chains, I felt utterly proud to have grown up in a culture where such principles were way of life for us. Growing up with two sisters meant that every new dress would be worn by all three of us, and eventually used as a cleaning cloth. This is a common practice in Pakistani households as it seems rather wasteful to keep investing on clothes that you outgrow so easily. We followed the same principles for books, where you see street food being sold in papers from old books rather than in plastic. Another practice that is common in our households is reuse of plastic bottles to grow plants or create arts and crafts. My grandmothers never really used a plastic bag for shopping as they always had a reusable cloth or bamboo knit bag. The growth of consumerism in the last few decades has disrupted a lot of natural ways of life and puts a greater responsibility on corporates to contribute more and faster towards solving this global climate issue. The growing awareness around this issue particularly amongst consumers and investors has led to increased investment into the climate tech space to develop technology driven solutions to climate problems. Within the last decade, this sector has gone from 2% VC investment to 10%, which is great but so much more needs to be done. And this is where VCs like my client come into the picture, who are not only putting money behind Climate tech but using research to create awareness around this topic. 

As I sit on a beautiful beach in Mexico, I reflect on this consulting experience, and how it has not only helped me learn more about circular economy, but also taught me lessons on teamwork. Firstly, and most importantly, just like life, group project also tends to steer away from how we plan them to be. In times like these, you learn the most. You learn to keep your calm and navigate your team through the situation. And you also recognize the power of effective communication and collaboration. During our interim submission, we were in the middle of our mid-terms and naturally it became tough for everyone to contribute fully. But we pulled it through, with some pulling an all-nighter and others working rigorously a few hours before the submission. The second thing I learned, again very crucial for years to come, is the ability to improvise and adapt. When things don’t go as per plan, sometimes you got to improvise to get to the end goal, just through a different path. This requires patience as well as flexibility, both of which are key to being successful team players and leaders. The beauty of group projects is the diversity they bring, and that diversity brings in alternative problem-solving skills and in times of turbulence, it serves as your greatest resource. 

Returning from my spring break with lots of zest and enthusiasm, I look forward to continuing this learning journey with the utmost commitment to serve our client alongside creating strong connections.