Module 9 – Circular economy in details

https://www.youtube.com/watch?v=mYTPsDR2bd0

Circular economy is a new approach that contrasts with the linear economy model “produce, use, throw away”. In fact, the circular economy is restorative and regenerative, aiming to redefine products and services based on reusing residuals. The circular economy is a new way of creating value, and ultimately prosperity. It works by extending product lifespan through improved design and servicing, and relocating waste from the end of the supply chain to the beginning—in effect, using resources more efficiently by using them over and over, not only once.

The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.

In practice, it implies reducing waste to a minimum. 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, thereby creating further value.

This is a departure from the traditional, linear economic model, which is based on a take-make-consume-throw away pattern. This model relies on large quantities of cheap, easily accessible materials and energy.

Also part of this model is planned obsolescence, when a product has been designed to have a limited lifespan to encourage consumers to buy it again. The European Parliament has called for measures to tackle this practice.

Fig. 1: Circular economy

 Source: EU, Circular economy 2015