The idea of a circular economy has been around for a long time.
While it was once a fringe topic, it has now gained popularity among environmentalists, governments, and businesses as one of the most promising solutions to our planet’s environmental issues.
To understand the circular economy, you first have to consider how current methods of production and consumption work, i.e. the linear economy.
The linear economy is sometimes described as ‘take, make, dispose’.
Think of the most recent thing you bought; raw materials had to be extracted and processed to make it, and then after you’re finished using the product, it will most likely end up in a landfill.
On the other hand, the circular economy involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products for as long as possible.
In this way, the life cycle of products is extended.
When a product reaches the end of its life, its materials are kept within the economy wherever possible.
These can be productively used again and again without the need to take more raw materials.