Transitioning to be part of a circular economy
What is a circular economy model?
Today, most of the world works on a traditional ‘linear economy’ model as illustrated below.
This means that raw materials and energy are used to make a product which is thrown away after use.
We want to change how we work so that where possible, we can keep materials in ‘circulation’ instead of in landfill. This means reducing the need for raw (natural) material inputs, preventing waste and reducing energy use by making products and materials more efficiently and reusing them.
This is going to be a transformative journey over many years for Targe. Our success will rely on changing the way we work from design to sourcing products and working with others across our supply chain, government and industry to achieve a system change.
Key changes for us will include:
- Designing our products with recycling, reuse or responsible disposal in mind
- Increasing our use of recycled materials in products
- Avoiding problematic materials that cannot be recycled
- Implementing sustainable packaging across all products
- Increasing customer access to product take-back for priority materials/products
- Improving our engagement and education of customers to extend product life and increase recycling and responsible disposal at the end of product life.
When we use the term ‘own brand’ we mean the brands we own, which excludes the brands owned by other companies, such as licensed and international brands.