What does the concept of "circular economy" promote?

The concept of a "circular economy" promotes a system where waste is minimized and resources are reused, recycled, or repurposed. This approach contrasts with the traditional linear economy model, which follows a 'take-make-dispose' pattern. In a circular economy, products and materials are designed with their entire lifecycle in mind, encouraging practices that keep resources in use for as long as possible. This model aims to create closed-loop systems where waste is significantly reduced, and products are continuously cycled back into the economy, thus conserving resources and minimizing environmental impact.

By focusing on reducing waste and maximizing resource efficiency, a circular economy not only benefits the environment but also fosters innovation and sustainable economic growth.