Circular Economy- How Does It Impact Corporate Electronic Recycling?

We all have been talking at length about corporate electronic recycling or hardware data destruction or e-waste for that matter and several ways to combat this problem but how well do we understand the concept of circular economy? There are many countries in Europe and several other parts of the world that have understood the importance of circular economy and are making the most of it as we speak to combat the problem of e-waste and contribute towards corporate electronic recycling.

Understanding Circular Economy

A circular economy aims to keep electronics and similar devices and all their materials in constant circulation at their highest value. This circulation is carried out at all times and for as long as possible so that the product is able to switch ownership while retaining most of its original value.

This model proposes that a consumer buys a product from the manufacturer on a contract basis. This way the consumer is going to be a part of a system where the provider or manufacturer is able to retain the ownership of the device that the consumer is interested in. The consumer is only liable to pay a low monthly fee in return for the product they wish to purchase. This means that according to this contract the device that they want to use will be delivered to them for as long as they want to use it or until the date an upgrade for the same is announced or released. At the end of the contract or whenever they want to upgrade they can return the product to the manufacturer and get the promised upgrades again on a contractual basis. This system allows the manufacturer to regain possession of materials that would otherwise contribute to e-waste.