What the circular economy is
The circular economy is based on moving away from a ‘throw-away society’ to one that designs out waste in products and keeps them in use for longer, strengthening local supply chains and finding ways to regenerate natural resources.
Underpinned by a transition to renewable energy and materials, the circular economy is a resilient system that is good for business, people, and the environment.
Principles of the circular economy
The circular economy has 3 main principles:
- design out waste – creating products, services, and systems that minimise waste from the start
- keep products and materials in use through repair, reuse, refurbishment, remanufacturing and recycling
- regenerate natural systems – ensuring that human activities restore and support the environment, rather than depleting it
We’ve set out a vision that will provide economic opportunities, promote business innovation and develop new skills and jobs, while building wealth within our communities.
Watch the film from the Ellen MacArthur Foundation below to find out more about how the circular economy works.