What is a Circular Economy?
Circular Economy: An industrial system that is restorative or regenerative by design. In other words, a circular business model uses resources efficiently and prioritizes renewable inputs.
Circular economies maximize a product’s usable lifespan to achieve maximum value. At the end of the product’s life, the product and any by-products in its manufacturing are recovered and reused to make new materials or products.
In a circular economy, products are no longer designed to have a life cycle with a distinct beginning, middle, and end.
Designers and business owners play an essential role in choosing materials that are fit for the circular economy. Not all materials are suitable for use in circular products because they contain chemicals that may be polluting or potentially hazardous for humans and/or the environment.
Similarly, recyclers, waste disposal professionals, and many others are vital to the success of a circular economy, particularly when it comes to keeping products out of our landfills.