What is the concept of the circular economy?

The concept of the circular economy refers to an economic system that aims to eliminate waste and continually use resources. This model is designed to rethink the traditional linear economy, where products are made, used, and then discarded. In a circular economy, the focus is on creating a closed-loop system where materials are reused, recycled, and repurposed, thereby extending the lifecycle of products and reducing environmental impact.

By emphasizing the continuous use of resources, a circular economy promotes sustainability by minimizing raw material extraction and energy consumption. It encourages businesses and consumers to rethink consumption habits and product design, considering how items can be recycled or upcycled at the end of their useful lives. This leads not only to reduced waste but also to the creation of new business opportunities and job growth in sectors focused on recycling and resource innovation. The approach is fundamentally about creating sustainable systems that benefit the economy, the environment, and society as a whole.