The circular economy concept is gaining attention as the consumption and use of resources increases to serve a fast-growing population with rising standards of living. Circularity refers to the circular flow and efficient use and reuse of resources, materials and products.
This new economic model represents sustainable green growth, moving from a consumption and disposal-based linear model to a system that
extends the life of products and materials and minimises waste. The circular model has many environmental, climate, social and economic benefits.
The circular economy is backed strongly by the European Commission and other EU institutions, as well as by a growing number of cities and countries across the European Union. It is also attracting increasing attention from the business community and public and private investors. The circular economy goes beyond resource efficiency and recycling. It provides the framework to develop new business models aimed at increasing the value, use and life of materials, products and assets and designing out waste from production and consumption.