Innovating towards the Circular Economy
The Canadian paint and coating industry had long established programs to collect residual paint from the household and recycle it into marketable products. By doing so, the industry protects the environment by recycling a significant amount of resources which used to end up in landfills as waste. However, such programs are currently costly for both the companies and consumers, due to extra costs of collecting and recycling. Despite the leadership of the industry in waste management programs, the industry intends to remain at the forefront of such programs.
This project aims to acquire an in-depth understanding of how different companies can pool their resources and capabilities and take actions that not only save the environment, but can also be efficient and economically viable. Such group actions are beyond the capabilities of any single company. By doing so, firms can collectively create a âcircular economy;â a waste-free economy that minimizes the impact of manufacturing on the environment.