Circular Economy

A circular economy is a systemic approach to economic development designed to benefit businesses, society, and the environment. In contrast to the traditional linear economy, which follows a take-make-dispose models, a circular economy is regenerative by design and aims to gradually decouple growth from the consumption of finite resources.

Key principles of a circular economy include:

• Eliminating Waste and Pollution: Designing products and systems that prevent waste and pollution from being created in the first place.
• Circulating Products and Materials: Keeping products and materials in use for as long as possible through strategies like reuse, repair, remanufacturing, and recycling.
• Regenerating Natural Systems: Restoring and enhancing natural ecosystems by returning valuable nutrients to the soil and other ecosystems.

Implementing a circular economy involves rethinking product design, business models, and consumption patterns to create a more sustainable and resilient economic system.

Source(s):

• Vision 2025. (2024). Glossary of Sustainability Terms.
• Ellen MacArthur Foundation. (n.d.). What is a circular economy?
• Ellen MacArthur Foundation. (n.d.). Circular economy key ideas.

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