Circular economy
A circular economy is a framework for an economy that is restorative and regenerative by design.
Looking beyond the current take-make-waste extractive industrial model, a circular economy aims to redefine growth, focusing on positive society-wide benefits. It entails gradually decoupling economic activity from the consumption of finite resources, and designing waste out of the system. Underpinned by a transition to renewable energy sources, the circular model builds economic, natural, and social capital. It is based on three principles:
- Design out waste and pollution
- Keep products and materials in use
- Regenerate natural systems
(Ellen Macarthur Foundation n.d.)
Ellen Macarthur Foundation. n.d. “What Is a Circular Economy?” Concept. Accessed June 7, 2021. https://www.ellenmacarthurfoundation.org/circular-economy/concept.
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