What is the circular economy?
The circular economy is a system where materials never become waste and nature is regenerated.
In a circular economy, products and materials are kept in circulation through processes like maintenance, reuse, refurbishment, remanufacture, recycling and composting. The circular economy tackles climate change and other global challenges, like biodiversity loss, waste and pollution, by decoupling economic activity from the consumption of finite resources.
The circular economy is based on three principles, driven by design:
- Eliminate waste and pollution
- Circulate products and materials (at their highest value)
- Regenerate nature
Underpinned by a transition to renewable energy and materials, the circular economy is a resilient system that is good for business, people and the environment.
The circular economy is an umbrella term formed by various existing concepts and schools of thought including cradle-to-cradle, biomimicry, industrial symbiosis and others; and there is no standard definition accepted by all. Different stakeholders describe the emerging paradigm of a circular economy by using their respective preferences.
Part of this definition of a circular economy comes from WCEF’s long-time partner, the Ellen Macarthur Foundation.
Discover interesting facts about the circular economy.
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