Five principles underpin waste management, recycling and resource recovery in a circular economy:41
1. Avoid waste by prioritising waste avoidance and encouraging efficient use, reuse and repair. Design products so waste is minimised, they are made to last and recovering materials is easier.
2. Improve resource recovery by enhancing material collection systems and recycling processes to improve the quality of recycled materials produced.
3. Increase use of recycled materials by building demand and creating markets for recycled products.
4. Better manage material flows to benefit human health, the environment and the economy.
5. Improve information collection and analysis to support innovation, guide investment and enable informed consumer decisions.
If Australia could develop even a partial circular economy, it could reduce business costs, support new industries and jobs, reduce greenhouse gas emissions and increase efficient use of natural resources such as water and energy.42
According to South Australian research, a circular economy could create 25,700 more full-time equivalent jobs for the state compared to 'business as usual' and reduce its greenhouse gas emissions by 27% (7.2 tonnes of CO2).43