Circular economy

DEFINITION: An industrial economy that promotes resource efficiency by replacing a linear ‘take, make, dispose’ model of production with one where materials function at their highest utility at all time. The circular economy model aims to extract maximum value from resources while in use, and then recover and reuse these materials at the end of each service life.

See also: Sharing economy

See also: Servitisation

See also: Access economy

See also: Circular Economy Package

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