About circular economy
As the price of natural resources and materials is soaring, and in response to volatile markets and increasing competition, developed nations are examining circular economy as an alternative economic model.
A circular economy is one that exchanges the typical cycle of make, use, dispose in favour of as much re-use and recycling as possible. The longer materials and resources are in use, the more value is extracted from them. This could contribute toward reducing Europe’s dependence on critical materials but also reduce overall demand by recovering the resources, nutrients or energy contained in products at the end of their useful life.
Extending the life of products and materials prevents the over-generation of waste and recovers the full value of products.
In this way, the Circular Economy implies a change in the production and consumption system at all levels. Circular practices focus primarily on reducing dependency on new resources, recovering the value of resources that are already being used.
This can be achieved by applying or enabling one or more of the following 9 circular economy ‘R’ strategies or principles, referred to as the 9 R’s:
- Refuse. Make product redundant by abandoning its function or by offering the same function by a radically different (e.g. digital) product or service.
- Rethink. Make product use more intensive (e.g. through product-as-aservice, reuse and sharing models or by putting multi-functional products on the market)
- Reduce. Increase efficiency in product manufacture or use by consuming fewer natural resources and materials.
- Re-use. Re-use of a product which is still in good condition and fulfils its original function (and is not waste) for the same purpose for which it was conceived.
- Repair. Repair and maintenance of defective product so it can be used with its original function.
- Refurbish. Restore an old product and bring it up to date (to specified quality level)
- Remanufacture. Use parts of a discarded product in a new product with the same function (and as-new-condition)
- Repurpose. Use a redundant product or its parts in a new product with different function
- Recycle. Recover materials from waste to be reprocessed into new products, materials or substances whether for the original or other purposes. It includes the reprocessing of organic material but does not include energy recovery and the reprocessing into materials that are to be used as fuels or for backfilling operations.
