Overview of Circular Economy
The circular economy model encourages a shift from a linear, resource-intensive economy to one that prioritizes resource efficiency and sustainable practices. By embracing the principles of sharing, leasing, reusing, repairing, refurbishing, and recycling, the model extends the lifespan of products, reducing the need for constant extraction of raw materials and minimizing waste generation.
At its core, the circular economy promotes a restorative approach, where resources are regenerated and waste is minimized. It encourages the use of renewable energy sources and non-toxic materials, fostering a more sustainable and environmentally friendly industrial system. By prioritizing superior design and product longevity, the model aims to eliminate the concept of ""end-of-life"" and instead emphasizes the restoration and continuous value creation through the repeated use of materials within the economy.