- In a circular economy, products can be used again and again.
- This reduces our use of precious raw materials and cuts CO2 emissions.
- Circular economy initiatives include the Circulars Accelerator, an innovation programme run in collaboration with the World Economic Forum.
The way we live now is using 60% more resources than the Earth can provide – and creating too much waste, according to experts.
Switching to a circular economy is widely considered to be the way forward.
What is the circular economy?
In a circular economy, things are made and consumed in a way that minimizes our use of the world’s resources, cuts waste and reduces carbon emissions. Products are kept in use for as long as possible, through repairing, recycling and redesign – so they can be used again and again.
At the end of a product’s life, the materials used to make it are kept in the economy and reused wherever possible, the European Parliament explains.