Circular IT is closely tied to the Circular Economy. In principle,the circular economy aims to make the world a better place for humans to live by reducing waste, redistributing resources, and recycling. With the increase in the number of IT products ( mobile devices and peripherals), there is a dire need for the adoption and investments in Circular IT given the short lifespan of such products. But what is it we are even talking about?
What does Circular IT involve?
Why is it attractive for a business to invest in circular IT?
1. Supporting a green economy
IT equipment, like other products, are made from scarce resources in the world. Disposing of IT equipment securely, recycling, and reselling used computers is a viable attempt to reduce over-exploitation of resources. In particular, reselling and recycling used hardware makes them stay useful for longer, thus reducing the demand for newly manufactured alternatives. It also helps minimize e-waste pollution.
2. Attractive returns
Disposal and recycling of IT equipment through Circular IT processes offers handsome returns in residual value. For instance, after recycling new hardware, we can obtain raw materials to manufacture new systems or repair existing ones. And for companies with a large load of disposable items, the residual value might be significant.
The IT industry is growing each day and increasing the amount of e-waste. In turn, Circular IT is increasingly gaining traction for its benefit to the environment, and the profits reaped from residual value. Companies centered on Circular IT will continue reaping earnings for as long as the IT industry exists.