Over the past decade, we have seen the emergence of the idea of a circular economy to address global environmental issues and promote sustainable development.
Unlike the traditional linear economy, which follows a "take-make-dispose" model, a circular system uses resources as much as possible and generates as little waste as possible by “closing the loop” of products’ life cycles. This new way of thinking is changing how consumers use products so that they last longer and how businesses and policymakers design products to reduce their environmental impact, create economic opportunities and extend materials’ usability.
The European Union has been leading the way with its Circular Economy Action Plan, launched in 2015 and updated in 2020. The scheme sets ambitious targets for the bloc, including banning single-use plastics and enhancing resource efficiency.