Circular Economy
The circular economy is an economic model that aims to minimize waste and maximize the efficient use of resources. It involves designing products for durability, recycling materials, and promoting the reuse and regeneration of resources throughout the value chain. The concept was first mentioned by Swedish environmental economist David Pearce in the 1980s. The planet and people can benefit from a circular economy by reducing environmental impact, conserving resources, creating new business opportunities, and promoting sustainable and inclusive growth. However, the adoption of circular economy principles varies globally, with some countries and industries making significant progress, while others are still in the early stages of implementation.