A circular economy is regenerative by design and aims to gradually decouple growth from the consumption of finite resources.
Each year, our economies transform 100 billion tons of raw materials into products. 23.7% of these raw materials are used to created long lasting things such as buildings, highways, and cars. 9.3% cycles back into the economy (only 1.5% of this is recycling). The majority of the raw materials we extract are disposed of in our environment as unrecoverable waste.
If we are to meet human needs while staying within the limitations of the planet’s finite resources, we are going to have to convert from a linear to a circular economy. In such an economy, the vast majority of the materials we use are cycled back and reused.
CIRCULAR ECONOMY ESSENTIALS:
In contrast to the ‘take-make-waste’ linear model, a circular economy is regenerative by design and aims to gradually decouple growth from the consumption of finite resources. A circular economy also reveals and designs out the negative impacts of economic activity that cause damage to human health and natural systems.