Market Update: We break down the business implications, market impact, and expert insights related to Market Update: The circular economy: how consumers, business and government can work together for a more sustainable economy – Full Analysis.
Can my business really save money from circular economy?
It certainly can! EU-funded actions have been helping businesses across the Eastern Partnership region to adopt the circular economy model in their manufacturing and production, helping them to save money, cut down on energy and resource use, and improve productivity.
Take the example of Ararat-Chansin, a road building company in Armenia, which took part in a Resource Efficient and Cleaner Production (RECP) demonstration project under the EaP GREEN programme. The project recommended a number of options to improve efficiency at the company’s production site, including the replacement of the electric heating system with natural gas, and repair and modernisation of equipment. Four years later, the company had recovered its investment with savings of almost €200,000 per year, including a reduction of 73% in electricity, 42% in natural gas, and 16% in water used in the production of asphalt.
Find out more: Circular Economy and new Growth Opportunities in Armenia; Country profile: Towards a Green Economy in Armenia
In Azerbaijan, a concrete plant, Shamkhal-86, participated in an RECP Demonstration Project under EU4Environment. The project identified three easy solutions to save resources and money: installing filters and cement level censors in the silos (preventing pollution, loss of raw materials, and potential equipment damage), and building warehouses to store sand and gravel, minimising waste from wind and rain. For an investment of just over €5,000, the company can save more than €75,000 a year.
Find out more: Circular Economy and new Growth Opportunities in Azerbaijan; Country profile: Towards a Green Economy in Azerbaijan
Working with EU4Environment, Georgian winemaker Chateau Mukuzani is looking at replacing natural gas with biomass waste for its energy production, saving €350,000 a year while substantially reducing emissions and dealing with its solid waste – all for an initial investment of €114,000.
Find out more: Circular Economy and new Growth Opportunities in Georgia; Country profile: Towards a Green Economy in Georgia
In Moldova, the Bons Offices printing house in Chisinau implemented five energy and resource efficiency options suggested under the EaP GREEN programme. Seven years later, it was saving almost €40,000 per year for an initial investment of just under €30,000 – including a 23% reduction in electricity consumption and a 10% reduction of materials used – as well as boasting an increase in productivity.
Find out more: Circular Economy and new Growth Opportunities in the Republic of Moldova; Country profile: Towards a Green Economy in the Republic of Moldova
Gardens of Karlivshchyna produces juices and jams in the Poltava region of Ukraine. Participating in the RECP Clubs programme under EU4Environment, it is set to reduce annual electricity consumption by 474,000 kWh and emissions by 199 tonnes of CO2-eq per year by installing a photovoltaic solar plant. This will make the company energy-sufficient, allowing it to feed its surplus electricity into the grid for further sale. Annual savings of almost €42,000 will allow the company to recoup its investment in less than four years.
Find out more: Circular Economy and new Growth Opportunities in Ukraine; Country profile: Towards a Green Economy in Ukraine
For upcoming opportunities to support your business, follow the opportunities section of the EU4Green Recovery East website.
You can also find significant resources on how to adapt your business to the circular economy from the EU4Environment programme: