A Future-Fit Business does all it can to ensure that the physical goods it provides to others can be repurposed at the end of their useful life.
What this goal means
The world’s resources are finite. Many renewable resources are consumed faster than they can regenerate, and as society’s most accessible finite resources are used up, extraction methods often become increasingly disruptive. Demand for virgin resources can be mitigated if materials are repurposed, rather than discarded. Repurposing also eliminates costs – financial, environmental and human – that waste disposal incurs.
A Future-Fit company does all it can to ensure that the physical goods it provides to others can be responsibly repurposed at the end of their useful lives. This includes revenue-generating products, any packaging or other materials distributed to customers, along with any materials used in the deliver y of products.
These requirements cover both final products designed for end users, and interim goods which are incorporated or processed into final products by other companies.
To be Future-Fit a company must ensure that:
- Whatever remains of the goods it supplies can be separated at the end of their useful life, to maximize their post-use recovery value; and
- Its customers have ready access to recovery services capable of extracting such value.
Why this goal is needed...
Though the technology exists to reclaim many used materials, only a small amount are actually repurposed.
72% of plastic packaging is not recovered at all — 40% is land filled, and 32% leaks out of the collection system — that is, either it is not collected at all, or it is collected but then illegally dumped or mismanaged.
13 million tons of textiles is thrown out each year in the US alone.
The US Environmental Protection Agency (EPA) stated that if that amount was repurposed, the reduction in GHG emissions would equate to removing 7.3 million cars from the road. Today only around 16% of textile products are recycled.
Considered to have the best rate of recycling, the paper industry is still far behind where it could be.
The global paper recycling rate stands at only around 58%.