Blockchain & Internet of Things
What is a Circular Economy?
”A framework for an economy that is restorative and regenerative by design.”- Ellenmacarthurfoundation
Looking beyond the current take-make-waste extractive industrial model, a circular economy aims to redefine growth, focusing on positive society-wide benefits. It entails gradually decoupling economic activity from the consumption of finite resources and designing waste out of the system. Underpinned by a transition to renewable energy sources, the circular model builds economic, natural, and social capital. It is based on three principles:
Environmental Social Governance
With Blockchain-as-a-Service (BaaS) and Internet of Things (IoT), e.g. tags, chips, and QR codes, we enable end-to-end supply chain transparency. Through fintech, we provide a platform that can validate product authenticity, leverage product life cycle, and create innovative ways for sharing information with both partners and consumers.
By creating digital product passports, we enable access to product quality, social, environmental, and ethical integrity features to the product background - or communicate guidelines on how to process or consume it. They are ideal for circular economy solutions as they enable tracking, life cycle management, after-sales- and take-back services, recycling instructions, or ensuring resource loops (mm.).
BaaS and IoT’s also enable digital carbon credit ecosystems and can act as anti-counterfeiting measures, eliminate "greenwashing" players, enable peer-to-peer interaction, and mitigate corruption through decentralization.
Surplus, waste-streams, and byproducts can have the potential to be looped back and become input or raw material again. We map, match, and link resources, find symbioses and explore the potential for opening or closing value chains and resource loops.
Mitigating greenhouse gasses to successfully decarbonise economies and supply chains. Decarbonization projects can be identified upstream or downstream within a company's value chain, which is why we focus on both carbon offsetting and carbon insetting. We look at carbon avoidance, carbon removals, and carbon capture and storage (CSS) - technologically and biogenically. Decarbonization can generate carbon credits and further incentivize carbon markets.
Nordic Waves Group is an officially verified partner in the Verra Registry and thus approved to trade with carbon credits in the voluntary carbon market. Please visit https://act4.io for more info.
Adopting circular economy methods can have a direct positive effect on your company’s ESG rating.
Exploring circular opportunities within or outside an existing business model can often lead to multiple symbiotics benefits. From lowering costs to new revenue streams, they can be valuable door openers.
Raw materials and their associated supply chains are key to costs, qualities, and sustainability measures. They represent opportunities to remove barriers for circular economy potential.
Design out waste and pollution
Keep products and materials in use
Regenerate natural ecosystems
Businesses have impacts on the environment and society. Some negative, some positive. For a company to be net positive, the latter needs to outweigh the former. To put it another way: The natural world and society should be better off with companies than without them. We develop NPI’s, or net positive impacts, that concentrate on "putting more back in than what is taken out".
A more symbiotic economy and value chain can often lead to new and fruitful partnerships, which potentially hide in (cross) industrial symbiosis.
Working in partnership with suppliers builds trust, bringing greater transparency to supply-chain activities, and helping to identify emissions reductions opportunities that create shared value for everyone.
Net Positive Impact
Partnerships & Symbioses
Through exploration, ideation, and incremental or radical innovation, we drive early-stage R&D processes.
Research & Development
Our Approach is based on three simple steps.
“Screen, Identify, Apply”
A Three-Step Process
We map sources of energy
We assess the level of circular economy
We explore the potentials for innovation
We identify and analyze key focus areas
We form scope and select sweet spots
We catalogue and categorize needed tools