The future belongs to a circular economy and does so with good reason The growth of the world economy in the past 50 years has led to a massive increase in global resource consumption from 25 to more than 100 billion metric tons 28 to more than 110 billion short tons per year In view of climate change this number alone illustrates that the days of unbridled consumption are over Even before production starts it must be clear what s supposed to happen at the end of a product s lifecycle other than just disposing of it on a sanitary landfi ll Although a few things are already happening in terms of a circular economy which in recent years has grown faster than the world market as a whole there s still massive untapped potential In 2021 only 8 6 per cent of the materials utilized worldwide were recycled for use as secondary raw materials according to the Circularity Gap Report The Netherlands is aiming to prove that clearly more is possible The kingdom which is in position eleven of the inter national per capita GDP ranking is planning to fully convert its economy to reusable materials by 2050 Automaker BMW recent ly presented a good example showing that even complex prod ucts can be created based on a circular economy 100 percent of the iVision Circular concept car was produced from recycled material and renewable raw materials Swedish battery manufac turer Northvolt is developing a recycling method for EV traction batteries that according to the company enables up to 95 per cent of the metals nickel manganese cobalt and lithium con tained in a battery to be recovered at a level of purity equaling that of new materials Statistics in a study of Fraunhofer Insti tute for Environmental Safety and Energy Technology commis sioned by Alba one of the ten global leaders in the recycling sec tor illustrate what positive eff ects consistent recycling can have on the environment By recycling 4 8 million metric tons 5 3 mil lion short tons of reusable materials in 2020 Alba reduced harmful greenhouse gas emissions by around 3 5 million met ric tons 3 9 million short tons notably the climate compatible annual budget of 1 5 million people and 28 8 million metric tons 31 7 short tons of raw materials such as crude oil and iron ore Michael Lehanka Sustainability Projects Specialist at Schaeffl er Circular economy instruments provide Schaeffl er with opportunities to support a sustainable and future proof transformation eff ort in the spirit of active climate protection With a long history of rebuilding and reconditioning industrial bearings Schaeffl er in recent years has developed a business segment that s consistently being expanded In 2021 the 100 percent return service for axlebox bearings was recognized with the Railsponsible Supplier Award in the Climate Change and Circular Economy category However a circular economy has clearly been gaining importance at Schaeffl er in other areas as well Schaeffl er for instance minimizes risks on the supply side relating to secondary materials recyclable design and refurbishing remanufacturing and additionally develops new business segments or expands existing ones With regard to growing resource requirements and more extensive legal frameworks Schaeffl er pursues the aim of driving a circular economy with strong partnerships Desirable repeat performance 41 SUSTAINABILITY

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