Transforming Waste to Wealth, Achieving Circular Economy

Abstract

AbstractWastes are usually thought of as unwanted or unusable materials. Waste is any substance which is discarded after primary use, or considered worthless, defective, and of no use. The term is often subjective, as not every application has identical raw material requirements and sometimes even objectively inaccurate. A starting point towards managing waste is the division in basic categories, ranging from municipal and agricultural waste to radioactive and explosive waste. Through proper collection of municipal solid waste, very important metals and other valuable sources can be recovered and used in new products, thus achieving significantly lower production cost and environmental impact. Success stories in waste management are reported in countries around the world. These typically showcase optimal waste transformation to wealth. Furthermore, applied waste management methods are specified. These actions should be adapted by every organization handling waste. At a managerial level, these must be considered as potential resources, commodities with significant economic, environmental and sociological added value. This paper attempts to identify and present the valuable resources and products that exist in waste streams, focusing mainly on their monetary value, based on data recovered from literature and raw materials stock markets. Municipal solid waste and non-hazardous commercial and industrial wastes are considered in this context. The methodology followed was based on identification and analysis of cities-communities and countries that have successfully adopted waste management policies towards circular economy and waste to wealth transformation.