In a nutshell, circular economy is to eradicate waste and retain more of the value that goes into your products.
A circular economy is an alternative to a traditional linear economy (make, use, dispose) in which we keep resources in use for as long as possible, extract the maximum value from them whilst in use, then recover and regenerate products and materials at the end of each service life.
Why a circular economy is important
As well as creating new opportunities for growth, a more circular economy will:
— Reduce waste
— Drive greater resource productivity
— Deliver a more competitive UK economy.
— Position the UK to better address emerging resource security/scarcity issues in the future.
— Help reduce the environmental impacts of our production and consumption in both the UK and abroad.