Waste minimization is not a new concept. Modern societies have been trying to solve this problem for centuries. Our grandparents worried about how to manage waste—their communities took care of their trash. Our parents wondered if their waste could be recycled and turned into something that could be used.
The challenges associated with creating a closed-loop economy have certainly increased. The scale and complexity of our consumption have changed dramatically. To one end, we are living longer lives than ever before. Companies are also becoming more complex with the increasing use of technologies. As a result, our relationships with our businesses are changing.
Australia produces around 800,000 tons of e-waste per year. The average citizen has more waste than the whole of Europe, and it is predicted that by 2030 the country will be generating more waste than there are people in the country. Around 57 percent of it is recycled or upcycled, but our rate is at just 15 percent. This means Australia, like every other developed nation, must innovate and think differently about how it generates and uses waste.
Since the industry in Australia is still growing, innovation and collaboration are essential to creating long-term sustainable solutions. The country has a vast coastline that’s very challenging to manage. Trash and trash-related pollution is an environmental problem that affects the economy of Australia and other countries too. Its beaches are being cleaned up, but we are still struggling to effectively manage the massive amount of trash and trash-related pollution going into our waterways and oceans.
What are the barriers to transitioning waste into valuable resources? In today’s world, most plastics are used as commodities. They are never recycled and aren’t used in any other product. In the business of cleaning up waterways and cleaning up the oceans, Australia is still operating in the “old” model of throwing stuff into a bin.
An article entitled “Closing the Loop: How Australia is Investing in a More Sustainable Future with Vik Bansal”, share how Australia has given Vik Bansal the country’s waste management industry the confidence to invest in infrastructure and innovation. Bansal also shared how his company; Cleanaway has worked to find ways to transform what may be seen to some as waste into a resource that again has value.
Vik Bansal is an Australian citizen of Indian origin. His mother was an ophthalmologist, and his father was a pharmacist, but he chose to follow in his father’s footsteps, studying to be an engineer. He did a Masters in Mechanical Engineering at the University of New South Wales, after which he did his engineering apprenticeship and an MBA at the University of Technology Sydney.
Vik Bansal was brought to help an ailing global commodity at Valmont Industries in the United States. Vik Bansal made a significant impact, and he was promoted to hold the chief executive officer position. The entrepreneur took over Cleanaway when it was crushing and decided to give clarity to workers.
Bansal created a strong foundation for the venture by creating an operational model. He managed to spot and cut down unnecessary costs. To him, rebranding and having a proper mission statement was the vital components to make Cleanaway regain its pride.
The firm’s market cap was less than $1billion, but it was over $5 billion after he took the helm. A year after taking charge, the company was awarded for the turnaround of the year. Vik Bansal has garnered global awards and recognition for his corporate turnaround.Visit this page for more information.
For more information, visit him on https://www.cleanaway.com.au/about-us/for-investor/directors-executives/