Innovation

The global economy has for long been defined by consumption, which is not a flawless way to grow the economy. High consumption translates into a lot of waste being produced yearly, which in turn has put its load on the environment and ecosystems. As a result of that, waste management is a topic of global interest. Sadly, disposal has historically been the way of dealing with the effects that consumption comes with. Waste disposal is not however always necessary as there are many materials that can be recycled. Circular economy and recycling is a way to minimize the ecological footprint that consumption puts on the globe. These concepts aim to put products and materials back into the hands of the consumers by using them again. CEO Marko Kärkkäinen of WasteTrade realized that there were certain issues when it came down to the sourcing of the materials. Big corporate buyers want securities on the materials origins and processing due to many government regulations. There can also be environmental criminality associated with recycled materials, as some dump the residues in jungles or rivers, and WasteTrade aims to reduce this by targeting all the prospective suppliers. This innovation also addresses the problem of long transportations by clustering buyers and suppliers from different parts of the world.

Inspiration

Wastetrade was created to solve the problem of a mismatch in demand and supply for recycled materials. It also addresses the uncertainty in buying or selling such materials to an unknown party, and provides its customers with trust, reliability, compliance and profitability. The founders got their innovation from working in the sustainability industry for over 30 years and by continuously hearing from sellers and buyers (working within recycling) that they were searching to buy or sell certain recycled materials. This sparked the idea of creating a marketplace, where you can trade different types of recycled materials. It was kind of a no-brainer to create WasteTrade since the demand and supply was already there and they just needed to be connected together. Marko, CEO and one of the founders, explained that they have even bigger plans to create an even more advanced marketplace for the materials, where the price would be updated continuously, similar to a stockmarket.

Overall impact

Wastetrade's innovative marketplace has given items that are no longer needed a second chance, which has significant positive effects on society and the environment.

First and foremost, Wastetrade reduces landfill waste, which eases the strain on disposal facilities. The business encourages a conservation-minded culture by supporting the usage of recycled materials. For instance, choosing recycled steel decreases the need for new mining operations, and thus resulting the environmental impact.

Another reason is the energy savings. Processing recycled materials often uses far less energy than obtaining raw materials, lowering the carbon footprint in the process (8billiontrees 2023)

Additionally, it has other advantages. The venture is beneficial from an economic standpoint since it boosts local economies and creates jobs in manufacturing, processing, sorting, and collection.

In summary, Wastetrade's marketplace for recycled goods is excellent for steering society toward a sustainable future. By encouraging connections, this platform promotes the shift to a circular economy. Wastetrade enables a cleaner and greener earth for the future through their method.

Business benefit

Wastetrade helps businesses in need of raw materials to source out more ecological and carbon neutral options while providing parties with security and legislative and regulatory help. The marketplace is also a great way of exploring various bids to find the most lucrative offers on the market. Businesses are guided throughout the process and offered support in order to ease the burden of making these more environmentally friendly decisions on their own.

Watch video on YouTube

Social and environmental benefit

First and foremost, Wastetrade reduces landfill waste, which eases the strain on disposal facilities. The business encourages a conservation-minded culture by supporting the usage of recycled materials. For instance, choosing recycled steel decreases the need for new mining operations, and thus resulting the environmental impact.

Another reason is the energy savings. Processing recycled materials often uses far less energy than obtaining raw materials, lowering the carbon footprint in the process

Interview

Marko Karkkainen, CEO