In our current economy, we take materials from the Earth, make products from them and eventually throw them away as waste-the process is linear. In a circular economy, on the other hand, we first stop producing waste. The circular economy is based on three principles, “design-driven.”
- Eliminate waste and pollution
- Circulate products and materials (at their highest value)
- Regenerating nature
A circular economy seeks to rebuild capital, whether financial, manufacturing, human, social or natural. This ensures a better flow of goods and services. The system diagram (see image) illustrates the continuous flow of technical and biological materials through the “value circle.”
It is supported by a transition to renewable energy and materials. The circular economy is a system of solutions that addresses global challenges such as climate change, biodiversity loss, waste and pollution. Only then can we create a thriving circular economy that can benefit everyone within the limits of our planet.
What will it take to transform our throwaway economy into one in which we circulate resources and regenerate nature? The circular economy gives us the tools to address climate change and biodiversity loss together, while addressing important social needs.
It gives us the power to grow prosperity, jobs and resilience while cutting greenhouse gas emissions, waste and pollution.