Concept

Circular economy

Summary
A circular economy (also referred to as circularity or CE) is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products for as long as possible. CE aims to tackle global challenges such as climate change, biodiversity loss, waste, and pollution by emphasizing the design-based implementation of the three base principles of the model. The three principles required for the transformation to a circular economy are: designing out waste and pollution, keeping products and materials in use, and regenerating natural systems." CE is defined in contradistinction to the traditional linear economy. The idea and concepts of circular economy (CE) have been studied extensively in academia, business, and government over the past ten years. CE has been gaining popularity because it helps to minimize emissions and consumption of raw materials, open up new market prospects and, principally,
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