What is Circular Economy?
Circular economy offers a transformative alternative to the traditional linear model of 'take–make–consume–discard'. Rather than producing goods that are destined for disposal, the circular economy aims to keep materials and products in use for as long as possible. It extends product lifecycles, reduces waste and retains the value of resources within the system through strategies such as sharing, leasing, repairing, refurbishing, remanufacturing, recycling and composting.
Unlike the conventional linear economy, which relies heavily on cheap, readily available materials and energy and often encourages planned obsolescence, the circular model prioritises long-term sustainability. Rather than being designed to be quickly replaced, products are designed to be maintained and reused, thereby reducing the environmental footprint and economic inefficiencies of throwaway culture.
