36 Facts About Circular economy

Circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible.

The idea and concepts of circular economy have been studied extensively in academia, business, and government over the past ten years.

The circular economy aims to keep products, materials, equipment and infrastructure in use for longer, thus improving the productivity of these resources.

The circular economy aims to transform our economy into one that is regenerative.

Circular economy is a framework of three principles, driven by design: eliminate waste and pollution, keeping products and materials in use and regenerate natural systems.

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The circular economy is an economic concept often linked to sustainable development, provision of the Sustainable Development Goals and an extension of a green economy.

Today, the climate emergency and environmental challenges induce companies and individuals into rethinking their production and consumption patterns, the circular economy is framed as one of the answers to these challenges.

Key macro-arguments in favor of the circular economy are that it could enable an economic growth that does not add to the burden on natural resources extraction but decouples resource uses from the development of economic welfare for a growing population, reduces foreign dependence on critical materials, lowers CO2 emissions, reduces the production of waste, and introduces new modes of production and consumption able to create further value.

Corporate arguments in favor of the circular economy are that it could secure the supply of raw materials, reduces the price volatility of inputs and control costs, reduce spills and waste, extends the life cycle of products, serve new segments of customers, and generate long term shareholder value.

Circular development is directly linked to the circular economy and aims to build a sustainable society based on recyclable and renewable resources, to protect society from waste and to be able to form a model that is no longer considering resources as infinite.

Circular development, therefore, supports the circular economy to create new societies in line with new waste management and sustainability objectives that meet the needs of citizens.

That there is a lack of clarity as to whether the circular economy is more sustainable than the linear economy, and what its social benefits might be, in particular, due to diffuse contours.

Intuitively, the circular economy would appear to be more sustainable than the current linear economic system.

Circular economy includes products, infrastructure, equipment and services, and applies to every industry sector.

The circular economy includes a discussion of the role of money and finance as part of the wider debate, and some of its pioneers have called for a revamp of economic performance measurement tools.

One study points out how modularisation could become a cornerstone to enabling a circular economy and enhancing the sustainability of energy infrastructure.

Circular economy is grounded in the study of feedback-rich systems, particularly living systems.

Circular economy was further modelled by British environmental economists David W Pearce and R Kerry Turner in 1989.

In Economics of Natural Resources and the Environment, they pointed out that a traditional open-ended Circular economy was developed with no built-in tendency to recycle, which was reflected by treating the environment as a waste reservoir.

In line with this, a circular economy can contribute to meeting the COP 21 Paris Agreement.

Circular economy often refers to quantities of recycled materials or reduced waste, however Cradle to Cradle Design focuses on quality of products including safety for humans and environmental health.

The development of circular products, circular business models, and, more generally, the circular economy is conditioned upon the affordances of the materials involved, that is the enablement and constraints afforded by these materials to someone engaging with them for circular purposes.

In 2018, the International Organization for Standardization established a technical committee, TC 323, in the field of circular economy to develop frameworks, guidance, supporting tools, and requirements for the implementation of activities of all involved organizations, to maximize the contribution to Sustainable Development.

The book Strategic Management and the Circular Economy defined for the first time a CE strategic decision-making process, covering the phases of analysis, formulation, and planning.

Circular textiles economy is in response to the current linear model of the fashion industry, "in which raw materials are extracted, manufactured into commercial goods and then bought, used and eventually discarded by consumers" .

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The circular economy appears as a helpful solution to diminish the environmental impact of the industry.

Decision making about the circular economy can be performed on the operational, tactical and strategic levels.

The circular economy can contribute to creating new posts and economic growth.

Circular economy is beginning to catch on inside the automotive industry.

The Netherlands is an example of a country from the EU that has increasingly moved towards incorporating a circular economy given the vulnerability of the Dutch economy to be highly dependable on raw materials imports from countries such as China, which makes the country susceptible to the unpredictable importation costs for such primary goods.

The shift from linear flows of packaging to circular flows as encouraged by the circular economy is critical for the sustainable performance and reputation of the packaging industry.

The government-wide program for a circular economy is aimed at developing a circular economy in the Netherlands by 2050.

Examples of adding value in innovative ways to the Dutch Circular economy are an exchange of resources for production from different industries and changing the transit port to a transit hub concept.

Circular economy is found to play an important role to economic growth of European Countries, highlighting the crucial role of sustainability, innovation, and investment in no-waste initiatives to promote wealth.

European leaders in terms of circular economy are designated mostly by their current efforts for a shift towards circular economy but by their objectives and the means implemented in this shift.

Apparel retailers exploit that the circular economy is evocative but still sufficiently vague to create any concrete policies that might hinder their freedom of action .