A CHALLENGE ON CIRCULAR INNOVATION
AS PER ELLEN MACARTHUR'S FUNDATION DEFINITION, THE CIRCULAR ECONOMY IS BASED ON THREE PRINCIPLES, ALL DRIVEN BY DESIGN:
Eliminate waste
and pollution
Regenerate nature
Circulate products and materials
(at their highest value)
Most agree that the current linear model is no longer fit for purpose, failing both people and the planet. A circular economy, by contrast, decouples economic activity from the consumption of finite resources. It is a resilient system that is good for business, people and the environment.
CIRCULARITY CAN BE DIFFERENT THINGS
CIRCULARITY
This is a collective challenge, which implies major transformation of current consumption and production patterns, and changes in deep-anchored routines. Companies have a key role to play to convert sustainability and social challenges into business opportunities and drive a chain reaction, where the move of one actor encourages others to follow. Businesses should compete not to be the best in the world, but the best for the world (B-Lab).
Source: Ellen MacArthur Foundation Circular economy systems diagram (February 2019) www.ellenmacarthurfoundation.org