The Circular Economy Design and Energy Innovation for Industries in 2060

The aim is to apply the circular economy strategy by the year 2060 in 12 industries where the production process is completely modified. The circular economy strategies used are designing out waste as part of systematic thinking; and shifting to renewable energy. The nine “Re”: Refuse, Reduce, Reuse, Repair, Refurbish, Remanufacture, Repurpose, Recycle, and Recover are at the core of circular economy design and are suggested for the 12 selected industries. The industrial sectors in many countries are aiming for net-zero carbon emissions by 2050. Where fuels would be analyzed for their emissions, based on this, net-zero carbon emissions strategies would be designed and implemented. This means that the production process along with energy consumption would be scrutinized, improved, and made efficient. Between 2025 and 2030, a financial institution would be developed for funding the circular economy design based on measurable indicators. From 2031 to 2060, the financial institution would be operational and function regularly. The financial institution would be called “Industrial Circular Economy Investment Bank.” The main findings are that selected countries would identify the renewable energy technology to focus upon for the specific industrial sector. During the same timeframe, the industrial sector would incorporate a specific circular economy strategy.