Maria Giovanie Isadora, Pham Ngoc Bich, Tilaka d/o Chandra, Axing Silaxa

 

 

This report for Circle Economy outlines the general direction and concrete steps that must be undertaken to accomplish a breakthrough through the “Five Business Models” (Sharing Platform, Product-as-a-Service, Product Life Extension, Circular Supply Chain and Recovery and Recycling).

 

The circular economy aims to address that consumers could possibly contribute to resource scarcity and environmental impacts in the long run. Our global economy is driven by taking material out of the ground, making something out of them, and ultimately throw it away. The shift from our current economy to a circular economy within Singapore will take years with awareness to be created by local organisations as identified in our survey analysis pertaining to consumer’s perception towards circular economy.

 

The survey findings reveal that Singaporeans with particular educational background tend to display a significant preference towards certain product services. Another defining outcome is that in all cases, customers’ awareness towards one Circular Economy inspired concept is positively correlated to their willingness in purchasing products with features of similar concepts. And lastly, the survey has highlighted the findings that although in general consumers have awareness towards all the available environmentally responsible programs, their awareness level significantly differ according to the organizations that provide such programs.

 

In conclusion, it is recommended that the government should put more effort on raising awareness for both consumers and manufacturers on the long term environmental impact caused by not Reducing, Reusing and Recycling. It may provide motivate organisations by providing incentives or due credit for adopting recycling practices. Traditional and social media advertising would be a great platform to engage and create awareness of Reducing, Reusing and Recycling of electronic waste.