The basic term Resource meaning something that a country has and can use to increase its wealth. Resource efficiency is to use that nature gift to utilize properly and in wisely manner.
Resources are basically two types on basis upon their availability. They are
- Renewable resources
- Non renewable resources.
Typically resources are materials, energy assets that are transformed to produce benefit and in the process may be consumed or made unavailable.
efficiency of resource means using the Earth’s limited resources in a sustainable manner while minimizing impacts on the environment by using and digging it blindly. It allows us to create more with less and to deliver greater value with less input.
For example, if we took 2 different type of material than there could be a 40% gap between available Coal supplies and Coal needs by 2030, and some critical materials like petroleum could be in short supply as soon as 2025. These challenges could lead to disruptions to supply, growing regulatory requirements, volatile fluctuation of prices, and may ultimately threaten the viability of existing business models.
Resource efficiency are basically measurement of consumption, methods to utilize and use them in proper manner and aims are quite similar to those of resource productivity/resource intensity and of the slightly more environment-inclined concept of ecological efficiency/eco-efficiency.