A circular economy addresses at a foundational level the problems inherent in our current take, make, consume and dispose economic model. It acknowledges that we live on a planet with finite resources and the more we waste, the more we lose and that everything is connected.
Central to the circular economy is a profound shift in the way we approach design and decision-making. Around the world, governments and industry leaders are embedding circular economy principles into their strategic thinking and operations and are consequently reaping the rewards of positive change.
In a circular economy, just like in nature, nothing is wasted. Products and services are designed and manufactured to get the most out of the primary resources whilst regenerating the natural ecosystems needed for continued sustainable use.
At the centre of the circular economy practitioners design process and decision-making, is a mandate to:
These three pillars are utilised to create closed loops that eliminate waste through smart design, rethink the nature of products and services to reuse, and repurpose and redirect resources out of the waste stream and back into the dynamic system.
In Food, transport and built environment sectors. Source: KPMG: Potential Economic Pay-off of a CE
In Food, transport and built environment sectors. Source: KPMG: Potential Economic Pay-off of a CE
Source: NSW circular: the CE opportunity in NSW
