Traditionally, goods produced by our industrial system have a linear lifecycle. As a result, both industrial activities and society rely on the continuous extraction of finite natural resources with substantial amounts of waste discarded to landfills and incinerators. Concerns over this unsustainable linear production and consumption model have led to the development of the “circular economy” concept, which seeks to close the loop on material and product flows, this increasing the efficiency of resource use and reducing waste generation.
The circular economy concept aims to decouple economic growth from resource depletion and environmental degradation to achieve balance among environment, society, and economy. Transitioning to a circular economy requires fundamental changes in product design, process technologies, business models, government policy, and consumer behavior.
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