Featured Research

from universities, journals, and other organizations

Is there really cash in your company's trash?

Date:
May 20, 2014
Source:
Concordia University
Summary:
One company's trash can be another's treasure. Take Marmite. Made from a by-product of commercial beer production, the yeast-based spread has topped toast throughout the Commonwealth for decades. By recuperating the waste product from one company, another was able to thrive.

One company's trash can be another's treasure. Take Marmite. Made from a by-product of commercial beer production, the yeast-based spread has topped toast throughout the Commonwealth for decades. By recuperating the waste product from one company, another was able to thrive.

Related Articles


Environmental concerns are at the forefront of government policy, so the time is right for companies worldwide to adopt this type of resource exchange, known as industrial symbiosis (IS).

A new study by Concordia University researcher Raymond Paquin published in Long Range Planning shows that this practice must become standard if companies are to continue advancing their environmental efforts.

"IS creates significant economic, environmental and societal value," says Paquin, a professor at Concordia's John Molson School of Business. "It goes beyond turning garbage into something useful -- it boosts company profits, creates new jobs and minimizes waste in our landfills."

Paquin's research confirms that companies that view their waste as a valuable resource can reduce disposal costs and boost revenues by reprocessing and selling it to other firms that can use it.

Paquin has studied thousands of firms engaged in IS across the United Kingdom.

"Companies have to think beyond their traditional business focus for IS to be a success," he says. "But it is well worth their time, both economically and environmentally,"

The additional business generated through IS exchanges has even allowed many companies to expand, hiring more employees and developing new arms to manage these transactions.

"It's a win-win situation," says Paquin, noting that the U.K.-founded National Industrial Symbiosis Programme has recently set up shop in Canada.

Although IS is not yet a common practice in North America -- unlike in the U.K., where landfills are close to capacity -- Paquin believes that this will soon change.

"Consumers and governments are increasingly calling for sustainable action on the part of corporations. As this research shows, industrial symbiosis is a proven approach for companies seeking to economically reduce their landfill and other environmental impacts. Smart firms are integrating IS into their core environmental strategies."


Story Source:

The above story is based on materials provided by Concordia University. Note: Materials may be edited for content and length.


Journal Reference:

  1. Raymond L. Paquin, Timo Busch, Suzanne G. Tilleman. Creating Economic and Environmental Value through Industrial Symbiosis. Long Range Planning, 2013; DOI: 10.1016/j.lrp.2013.11.002

Cite This Page:

Concordia University. "Is there really cash in your company's trash?." ScienceDaily. ScienceDaily, 20 May 2014. <www.sciencedaily.com/releases/2014/05/140520123436.htm>.
Concordia University. (2014, May 20). Is there really cash in your company's trash?. ScienceDaily. Retrieved March 1, 2015 from www.sciencedaily.com/releases/2014/05/140520123436.htm
Concordia University. "Is there really cash in your company's trash?." ScienceDaily. www.sciencedaily.com/releases/2014/05/140520123436.htm (accessed March 1, 2015).

Share This


More From ScienceDaily



More Earth & Climate News

Sunday, March 1, 2015

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Whale-Watching Scientists Spot Baby Orca

Whale-Watching Scientists Spot Baby Orca

AP (Feb. 28, 2015) Researchers following endangered killer whales spotted a baby orca off the coast of Washington state, the third birth documented this winter but still leaving the population dangerously low. (Feb. 28) Video provided by AP
Powered by NewsLook.com
Bridge Collapses Due to Flooding in Bolivia

Bridge Collapses Due to Flooding in Bolivia

Reuters - News Video Online (Feb. 28, 2015) Heavy rain and flooding sweep through parts of Bolivia causing damage and leaves more than 2,000 people homeless. Sophia Soo reports. Video provided by Reuters
Powered by NewsLook.com
Death Toll from Afghan Avalanches Tops 200

Death Toll from Afghan Avalanches Tops 200

AFP (Feb. 27, 2015) More than 200 people have been killed in a series of avalanches triggered by heavy snowfall in Afghanistan. Duration: 00:42 Video provided by AFP
Powered by NewsLook.com
France, Philippines Call for Agreement on Climate Change

France, Philippines Call for Agreement on Climate Change

Reuters - News Video Online (Feb. 27, 2015) The presidents of France and the Philippines issue a joint appeal for a binding agreement on climate change. Katie Sargent reports. Video provided by Reuters
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:

Strange & Offbeat Stories


Plants & Animals

Earth & Climate

Fossils & Ruins

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins