The principle of a circular economy
08/10/2016 11:43 AM
Global circular economy charity The Ellen MacArthur Foundation describes the concept below:
Today’s linear ‘take, make, dispose’ economic model relies on large quantities of cheap, easily accessible materials and energy, and is a model that is reaching its physical limits. A circular economy is an attractive and viable alternative that businesses have already started exploring today.
A circular economy is restorative and regenerative by design, and aims to keep products, components, and materials at their highest utility and value at all times. The concept distinguishes between technical and biological cycles.
As envisioned by the originators, a circular economy is a continuous positive development cycle that preserves and enhances natural capital, optimises resource yields, and minimises system risks by managing finite stocks and renewable flows. It works effectively at every scale.
The Foundation created the below video to explain how a circular economy could work and the ‘world of opportunity’ it holds:
The principle of zero waste has an important role in creating a circular economy, and changing the way we think about and use resources can make a big difference.
Other useful resources about the circular economy include: