The circular economy is a concept in which growth and prosperity are decoupled from natural resource consumption and ecosystem degradation. The intention with the series is to clarify the circular economy. How to practically apply circular economy principles at. Circular economy ce is currently a popular concept promoted by the eu, by several national governments and by many businesses around the world. The 7 key elements of the circular economy circle economy. A circular economy aims to decouple economic growth from the use of natural resources and ecosystems by using those resources more effectively. Resources are extracted and transformed into goods and services, sold and used, after which they are scrapped. The circular economy concept has gained momentum both among scholars and practitioners. It is a re sponse to the unsustainable, conventional takemakedispose economic model. Adopting circulareconomy principles could not only benefit europe environmentally and socially but could also generate a net economic benefit of 1. Representing the circular economy in a cge framework proposals for a circular economy purport to maximize the value of products, materials and resources as long as possible, minimize waste. Pdf concept and practice of the circular economy researchgate. Weve lined up a number of activities to help you understand, define, make, and release circular innovations.
Transforming the linear economy, which has remained the dominant model since the onset of the industrial revolution, into a circular one is by no means an easy task. The definition of circular economy is an economic system where products and services are traded in closed loops or cycles. Pdf abstract circular economy ce is a concept that would turn goods at. A circular economy is an economic system of closed loops in which raw materials, components and products lose their value as little as possible, renewable energy sources are used and systems thinking is at the core. To put it simply, in a linear economy we mine raw materials that we process into a product that is thrown away after use. The circular economy is a regenerative system in which resource input, waste, emission, and energy leakage are minimised by slowing, closing, and narrowing energy and material. Over time, one approach to sustainable development has gained traction among economists, policymakers and business people, and has also caught unidos attention. The circular economy has seen a significant increase in interest over the past few years and is continuing to gain steady momentum. Towards a circular economy waste management in the eu. In a circular economy, the value of products and materials is maintained for as long as possible. The concept recognises the importance of the economy needing to work effectively at all scales for large and small businesses, for organisations and individuals, globally and locally. The circular economy is a strategy to secure natural resources for our industry, and is, therefore, considered a longterm necessity.
The circular economy ce is an emerging system that moves away from the traditional linear view of make, use, and dispose to one that is restorative and regenerative to keep resources, such. The fundamental need for an alternative to the traditional linear model of growth has led to the emerging debate about circular economy ce, described as an economy with closed material loops. The concept recognises the importance of the economy needing to work effectively at. The circular economy archive of european integration. The circular economy a new sustainability paradigm. An analysis of 114 definitions article pdf available in resources conservation and recycling 127. Circular economy aims to reach the maximum efficiency in the use of finite.
It is restorative and regenerative by design and aims to. A circular economy is an economic model designed to minimize resource input, as well as waste and emission production. An economy is the system according to which the money, industry, and trade of a country. Eu circular economy action plan a new circular economy action plan for a cleaner and more competitive europe. A circular economy is an economic system of closed loops in which raw materials, components and products lose their value as little as possible, renewable energy sources are used and systems thinking. Estimating employment effects of the circular economy. Circular by design products in the circular economy preamble this report is the second in a series of eea reports on the circular economy. The circular economy challengebusiness, governments and citizens around the world increasingly recognize the challenges caused by our takemakedispose approach to production and. The circular economy concept, explained government europa. It is a system of resources utilization where reduction, reuse and recycling of materials prevails, cutting down waste to a minimum and.
Furthermore, the c2c principles have been key contributors to the definition. The european commission has adopted a new circular economy action plan. This is the third in a series of reports on the circular economy in support of the framing, implementation and evaluation of european circular economy policy from an environmental. Waste and resource use are minimised, and when a product reaches the end of its life, it is used again to. Pdf the fundamental need for an alternative to the traditional linear model of. A circular economy differs from a linear economy, but how. Circular economy overivew, principles, types of cycles. Circular economy is connected with sustainable development.
In the biocycle of the circular economy, organic matter, free of toxic contaminants, gradually breaks down, cascading through different valueextracting stages, before returning safely to. The circular economy aims to eradicate wastenot just from manufacturing processes, as lean management aspires to do, but systematically, throughout the life cycles and uses of products. From concept to practice g e n e r a l a s s e m b l y a n d e c o s o c j o i n t m e e t i n g draft concept and programme for the joint meeting of the economic and. Finland finlands national circular economy roadmap 10. The circular economy and the bioeconomy partners in. The eib circular economy guide european investment bank. Circular economy is a manifestation of economic models that highlight business opportunities where cycles rather than linear processes, dominate.
This is followed by a presentation of the main economic, environmental and social. Dive in wherever makes most sense for you and your team. New circular economy strategy environment european. By definition, a circular economy is a driver for innovation in the areas of material, component and product reuse, as well as new business models such as solutions and services. There is no single commonly accepted definition of the term circular economy, but different definitions share the basic concept of decoupling of natural resource extraction and use from economic output. The circular economy is a blueprint for a new sustainable economy, one that has innovation and efficiency at its heart and addresses the business challenges presented by continued economic. The stoa project towards a circular economy waste management in the eu was carried out by oakdene hollins uk at the request of the science and technology options assessment panel, and. Pdf the circular economy concept has gained momentum both among scholars and practitioners. The circular economy, one that operates through designing out waste and pollution, keeping products and materials in use, and regenerating natural systems1 is fast rising up the business and political.
Economy definition and meaning collins english dictionary. The circular economy concept is a response to the aspiration for sustainable growth in the context of the growing pressure of production and consumption on. The definition of circular economy is important in framing the scope of. Pdf abstract circular economy ce is a concept that would turn goods at the. With this surge in popularity, many mention the term circular economy or circular principles without really explaining what they mean. Several authors, like andersen 2007, ghisellini et al. The circular economy concept is a response to the aspiration for sustainable growth in the context of the growing pressure of production and consumption on the worlds resources and environment. The circular economy, as defined by canadas circular economy lab cel, is. The 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.
Circular economy investment is, therefore, a form of socially responsible investment sri which focuses on selecting companies that follow the principles of the circular economy model. The circular economy ce is a paradigm for economic development and a policy initiative. As a matter of fact, the concept of a circular economy cannot be. Dame ellen macarthurs experiences as a solo offshore sailor made her acutely aware of the finite nature of the resources our current, linear economy. By definition it is a driver for innovation in the. A circular economy is fundamentally different from a linear economy.