Every Interesting Facts About Circular Economy
A circular economy (also referred to as "circularity") is an economic system that tackles global challenges like climate change, biodiversity loss, waste, and pollution.
Most linear economy businesses take a natural resource and turn it into a product that is ultimately destined to become waste because of the way it has been designed and made. This process is often summarised by "take, make, waste".
By contrast, a circular economy employs reuse, sharing, repair, refurbishment, remanufacturing and recycling to create a closed-loop system, minimising the use of resource inputs and the creation of waste, pollution and carbon emissions.
The circular economy aims to keep products, materials, equipment and infrastructure in use for longer, thus improving the productivity of these resources.
Waste materials and energy should become input for other processes through waste valorization: either as a component or recovered resource for another industrial process or as regenerative resources for nature (e.g., compost).
This regenerative approach is in contrast to the traditional linear economy, which has a "take, make dispose of" model of production.
Circular development is a model of economic, social and environmental production and consumption that aims to build a sustainable society based on a circular model.
The purpose is to be able to form a model that is no longer linear and transform towards a circular economy. This new form of society is based on the principle of the circular economy. The aim is to enable economies and societies, in general, to become more autonomous, sustainable and in tune with the issue of environmental resources.
The circular economy is a framework of three principles, driven by design: Eliminate waste and pollution, keep products and materials in use and regenerate natural systems.
It is based increasingly on renewable energy and materials, and it is accelerated by digital innovation. It is a resilient, distributed, diverse, and inclusive economic model.
The circular economy is an economic concept often linked to sustainable development, provision of the Sustainable Development Goals (Global Development Goals) and the green economy but which goes further than the latter.
Indeed, rather than only think to reduce the ecological and environmental impact of the industries and the amount of waste, it aims to transform our economy into one that is regenerative.
In other words, the goal is to make the economy as circular as possible, by thinking of new processes and solutions for the optimization of resources, decoupling reliance on finite resources. Other definitions and precise thresholds that separate linear from circular activity have also been developed in the economic literature.
Circular Economy and India
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