## 1.2 Biobased economy: part of a transition to a sustainable economy

A biobased economy, a blue economy, a circular economy, People/Planet/Profit (triple P), green chemistry, corporate social responsibility, Cradle2Cradle: indeed, all these ideas are closely related. Each one has its own origin and focus. The main principle behind these theories is the classic definition of sustainability presented in the UN Brundlandt Report (1987):

"Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs"

1.2.1 Circular Economy

Let us take the example of the fridge to explain the difference between our present linear economy and the circular economy. The present economy is ruled by the "end of pipe" principle. You buy a fridge because you need cold to store and cool your food. When the fridge is not functioning properly anymore only one option remains: discharge the fridge and return to the store to buy a new one. The destiny of the old fridge is most often the garbage dump. The question is: do you need a fridge or do you need cold? Obviously you need the latter: the cold. So, why not go to the store and ask for cold instead of a fridge? Imagine, you buy cold for several years. It is then up to the store to choose how to fulfil your wishes. They can decide to provide you with a fridge. When this fridge is broken down, the store is obliged to replace the fridge. In the end, it is a prime interest for the store to deliver a fridge that lasts long and to deliver a fridge that can easily be disassembled and all parts can be reused.

Resuming, the circular economy aims at reusing and retrieving of the valuable raw materials. At the end of the life cycle, products are collected and the all the individual components are separated for a future product. The circular economy requires innovative designs and production systems, adapted logistics and business models. Meeting the needs of consumers and services will become more important than owning products.

A circular economy seeks to rebuild capital, whether this is financial, manufactured, human, social or natural. This ensures enhanced flows of goods and services. The system diagram illustrates the continuous flow of technical and biological materials through the ‘value circle’. Click on the link to see the diagram on the original website of an interactive system diagram.

1.2.2 Blue Economy

Gunther Pauli developed the economic philosophy blue economy in 1994 for the UN. The power of the blue economy is that it injects money back into the local economy, and contrary to traditional belief, it offers high quality products at a lower cost price. More information about this designer theory is available in the video.

https://www.youtube.com/watch?v=1af08PSlaIs

Another definition of a blue economy is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, while preserving the ocean ecosystem health. The concept of the blue economy or blue growth has emerged over the last decade as an increasingly important new direction for the global economy.

https://www.youtube.com/watch?v=Oovu6oeFlw8