The Circular Economy
A circular economy is an economic system of closed loops in which raw materials, components and products lose minimal value.
This model involves sharing, leasing, reusing, repairing, refurbishing and recycling existing products and materials for as long as possible.
The circular economy concept aims to close the gap between production and natural ecosystem cycles, reducing biodegradable waste through composting, and transforming non-biodegradable waste through reusing, remanufacturing before finally recycling it.
Key principles of the circular economy include ending the use of chemical substances and depending on renewable energy.
The energy needed to fuel the circular economy cycles should be renewable, decreasing dependence on finite resources such as fossil fuels and increasing resilience.