The Circular economy_

(Source: Ellen MacArthur Foundation)

A circular economy is an alternative to a traditional linear economy (make, use, dispose) in which we keep resources in use for as long as possible, extract the maximum value from them whilst in use, then recover and regenerate products and materials at the end of each service life.

(Source: WRAP UK)

Why a circular economy is important

As well as creating new opportunities for growth, a more circular economy will:

• reduce waste
• drive greater resource productivity
• deliver a more competitive economy
• position businesses to better address emerging resource security/scarcity issues in the future
• help reduce the environmental impacts of our production and consumption at home and abroad

(Source: WRAP UK)

 

Strategies

The transition to a circular economy requires fundamental changes and innovation throughout the whole value chain, from product design to new business models, from new ways of preserving resources and turning waste into a resource, to new modes of consumer behaviour and lifestyles.