Doing business differently for a sustainable future

To be ready for a future shaped by climate change, Victoria needs to do business differently, and avoiding waste is a critical change we need to make.

Innovative Victorian businesses are already reducing waste and saving money by testing new approaches to sustainability, transforming the way they use resources and developing new business models.

It’s all part of our transition from a linear, throw-away economy to a circular economy where waste as we know it is eliminated, and we use resources again and again to get their maximum value. Not only does avoiding waste help reduce landfill, it also is critical if we are to reduce emissions: 45% of our global emissions are generated from how we extract and use materials.

^{Diagram demonstrating the circular economy concept. Source: Wikimedia Commons.}

It’s estimated that being just 5% more efficient with our materials could boost the Victorian economy by $6.4 billion.

Here are some great examples of how Victorian businesses are doing just that.

New products on the menu for Australia’s biggest olive oil producer

The process of producing olive oil generates a lot of waste, with olive pits, skin and flesh left over.

Cobram Estate received funding to build an industry-first facility to recycle up to 28,000 tonnes of olive waste each year into new products like animal feed and soil conditioner.

Small business entrepreneurship powered by electric vehicle waste

Batteries from electric vehicles have to be replaced after just 20-30% of their capacity has been used, or after about 10 years. One Victorian business has turned this problem into an opportunity.

Rather than letting them go to waste, Infinitev is refurbishing the batteries so they can be used in cars again. When a battery is too far gone, Infinitev will transform it into an energy storage system to collect excess electricity from commercial solar panels.

Infinitev can also extract valuable materials from old batteries and use them to create new batteries, reducing our reliance on virgin resources like lithium and nickel.

Squid gut science key to better business in fisheries

A significant amount of waste is generated in the processing of seafood, posing challenges for wild-harvest fisheries, processors, and aquaculture industries.

More than one-third of a squid is considered waste, even though this material contains up to 12% omega-3 oil and is high in protein.

A partnership with Deakin University has helped Mantzaris Fisheries to repurpose this waste through science. They’ve joined forces to develop a process that separates the squid guts from the valuable oil, leaving a material that could be used in health supplements or premium dog food.

Textile manufacturing waste is back in fashion

The Victorian fashion industry is wasting up to 10 million kilos of leftover fabric from the manufacturing process, which is worth $500 million.

Circular fashion label ABC.H used a Sustainability Victoria grant to develop a digital marketplace for buying and selling quality Australian surplus fabrics.

Participating brands are not just recouping costs: they’re meeting customer expectations around environmental sustainability which gives them an edge over their competitors.

Sustainability, the cherry on top for one farming business

In Victoria alone, we waste 3,000 tonnes of cherries every year, which is enough to fill around 41,000 shopping trolleys.

The team at Cathedral Cherries has paired up with former chef Sam Bate to repurpose this waste into commercially viable, high-end consumer products like cider, vodka, vinegar and cherry honeycomb.