TT Global and the Circular Economy
What is a Circular Economy?
An economy is essentially the production and consumption of goods and services, which are used to fulfil the needs of the people that live within it. Within an economy there are flows of materials, energy, and information. In a circular economy these flows are in a circular shape as opposed to the more damaging linear model of ‘take-make-waste’.
A circular economy is designed to be regenerative with an aim of breaking apart the notion of economic growth being linked to the consumption of finite resources. There are 3 main principles in a circular economy:
- Design out waste and pollution – e.g., developing solutions to the problem of waste
- Regenerate natural systems – e.g., returning valuable nutrients to the soil
- Keep products and materials in use – e.g., designing for durability and reuse
TT Global’s Approach
With the electronics business being the world’s fastest growing industry with new products being developed on a constant basis it would be (and has been) easy for the sector to fall into the linear model of economy.
TTG offer a complete package to business where unwanted/outdated electronic devices are sourced, repaired, and then sold into emerging markets. Let’s look at this in more detail:
TTG has 24 offices in 17 countries and all products are purchased and paid for locally. Once purchased, the business has no further obligations, TTG are the registered owners and therefore the persons responsible for any future transportation or repairs costs. TTG purchases new, used, and faulty stock – which could otherwise be destined for landfill.
TTG’s Global repair centre is in the UAE. There are many economic and environmental advantages of having a single, centrally located repair centre. The centre is strategically located to receive shipments from places such as North America and Europe and ship the repaired products onto emerging markets in Africa and South Asia. With all products being sent to a single location, if there are any model specific issues that need repairing, these can be carried out on a large, cost-effective scale. TTG has no limit on the quantity of devices we can process.
TT Global’s ‘full circle’ system ensures that the new owners are provided with reliable and affordable devices. We endeavour to repair and/or reuse as spare parts, all products that we purchase. If an item is no longer repairable, we ensure that licensed recyclers are used which further minimises environmental impact.
TT Global and the Circular Economy
TT Global (TTG) has developed processes to support businesses to be part of a circular economy, so that they can manage their technology in a cost effective, efficient, and far more sustainable way.
If we consider the principles of a circular economy, we can see how TT Global fits within the two relevant points.
Keep Products & Materials in Use
A circular economy endeavours to use activities that preserve value in the form of energy, labour, and materials. This can mean designing products for durability, reuse, remanufacturing, and recycling to keep products, components, and materials circulating in the economy.
TT Global keeps electronic products circulating in the economy by repairing and reselling old or unwanted devices. TT Global is dedicated to prolonging the lifespan of electronic devices for as long as possible and sharing them among others who may not have had access otherwise. TT Global extends the life of over 400,000 IT devices a year. When a product is deemed unrepairable, TT Global is committed to recycling the device and ensures licensed recyclers are used.
Design out Waste & Pollution
A circular economy reveals and designs out the negative impacts of economic activity that cause damage to human health and natural systems.
At TT Global, our core business is reducing the amount of electronic waste that enters landfill. We are also mindful of other impacts on the environment, our central repair centre eliminates the need for multiple centres around the world and reduces the need for numerous smaller centres which cumulatively would have a larger impact on the environment. The central repair centre also reduces the need for several individual shipments from source countries, as larger volumes of devices can be shipped together.
The Economic Benefits of a Circular Economy
A circular economy can have many positive impacts on society. Economic growth can be achieved by revenue generated from activities that are part of the circular economy and the lower cost of production (from repairing existing items). TTG supports economic growth in the 17 countries that the business spans. Material cost savings are inevitable, as existing materials are being reused by TTG. Job creation potential is another positive impact, caused by high-quality, labour-intensive recycling activities and higher skilled jobs in remanufacturing. TTG employs many skilled technicians in our central repair centre. Perhaps the most exciting aspect of a circular economy is the opportunity for innovation. TTG has developed an innovative solution to help tackle the problem of electronic waste whilst also providing affordable devices to emerging markets.
Since 1998 TTG has been providing exceptional global service delivery. We offer a ‘full circle’ package where we can purchase an asset, repair it, and resell it to consumers in emerging markets. TTG ensures that all local and international laws and regulations are met.
TTG provides a worldwide repair service, from one low-cost, easily accessible hub. This means our customers benefit from complete sustainability and circularity – every day, across the world.