WHAT IS A CIRCULAR ECONOMY?
It is a move away from our linear, use-once economic model!
The aim is to create a sustainable and regenerative economic system, that benefits both businesses and society by reducing waste, conserving resources, and mitigating the environmental impact of production and consumption.
A STORY OF MANY R's
- Optimize resources in production and consumption activities. Raw materials, energy and water are finite.
- Prevent waste by rethinking design, manufacturing and consumer behavior.
- Encouraging the reuse through refurbishing, repairing or repurposing to extend lifespan.
- Promote a sharing economy, reducing the need for individual ownership of products and assets.
- Designing long lasting products with easy repairability.
- Supporting repair, fixing and maintenance services. Creating jobs while extending product lifecycles.
- Refurbishing and upgrading electronics to extend their life.
- Refurbishing furniture and appliances to like-new and encouraging resale or reuse.
- Disassembling, rebuilding & reassembling products to like-new.
- Industrial remanufacturing to extend life of machinery and reduce the need for new.
- Collecting and recycling materials from discarded products to create new ones.
- Promoting closed-loop recycling systems that feed materials back into the same products or industry.
- Encouraging everyone purchase sustainably, by considering the environmental and social impacts.
- Incentivizing extended producer responsibility (EPR) for the product lifecycle and designing more circular products.