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Current supporters of global waste trade argue that importing waste is an economic transaction which can benefit countries with little to offer the global economy. [9] Countries which do not have the production capacity to manufacture high quality products can import waste to stimulate their economy.
BSI PAS 108 Specification for the production of tyre bales for use in construction; BSI PAS 109 Specification for the production of recycled gypsum from waste plasterboard; BSI PAS 110 Specification for whole digestate, separated liquor and separated fibre derived from the anaerobic digestion of source-segregated biodegradable materials
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Resource recovery can be enabled by changes in government policy and regulation, circular economy infrastructure such as improved 'binfrastructure' to promote source separation and waste collection, reuse and recycling, [5] innovative circular business models, [6] and valuing materials and products in terms of their economic but also their social and environmental costs and benefits. [7]
Tires are an example of products subject to extended producer responsibility in many industrialized countries. Extended producer responsibility (EPR) is a strategy to add all of the estimated environmental costs associated with a product throughout the product life cycle to the market price of that product, contemporarily mainly applied in the field of waste management. [1]
In their book Economics of Natural Resources and the Environment, Pearce and Turner explain the shift from the traditional linear or open-ended economic system to the circular economic system (Pearce and Turner, 1990). [41] They describe an economic system where waste at extraction, production, and consumption stages is turned into inputs.
Within Germany, waste management has evolved into a large economic sector. There are more than 270,000 people working in some 11,000 companies with an annual turnover of around 70 billion euros (~$78 billion). More than 15,500 waste management facilities help to conserve resources through recycling and other recovery operations. [1]
[2] [1] [3] The term comes from practices in sustainable manufacturing and economics, industrial ecology and waste management. The term is usually applied in industrial processes where residue from creating or processing one good is used as a raw material or energy feedstock for another industrial process.