What is the Circular Economy

The Circular Economy

An approach to sustainable development, the Circular Economy is a concept that replaces the traditional take-make-dispose approach with a system that is inherently regenerative by design. Advocating for the radical redesign of how we produce and deliver products and services, the Circular Economy challenges the notion that materials, products and resources can have an ‘end-of-life’. It proposes that by adopting novel business models, renewable energy and strategies such as re-use, repair, refurbish or recycle, resources can be looped back into the system acting as a feedstock for future products and materials. This will help to not only design out waste, but also maximize the economic and environmental value of these resources, ultimately contributing towards improving sustainable development and reducing climate change.

What’s the Connection to Net Zero?

The energy transition is vital in driving down emissions to meet Net Zero, but it only tackles half the problem. The remaining 45% of emissions are linked to the production of car, clothes, food and other products we use everyday.

Each year we consume over 100 Billion tonnes of resource globally. Over 90% are virgin materials, just 1/3 remain in use after a year, only 7.2% is cycled for re-use.

Research has shown that increasing the rate of circularity to just 17% has the power to cut total global emission by 39%. So, embracing circular principles is a powerful tool in the challenge to meet Net Zero targets.