A circular economy is a closed-loop management system designed to improve resource productivity and eliminate waste by keeping resources, products and materials in the system for as long as possible and extracting the maximum value from them while in use.
In a circular economy, what goes around comes around. At the end of their service life, products and materials are recovered, refurbished and reused, or regenerated and transformed into something else: waste is designed out of the system altogether.
This topic looks at the business benefits of a circular economy and the considerations to be taken into account during each phase of a product’s life cycle.
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