In a circular economy, products and materials are reused, recycled, remanufactured, and refurbished to reduce waste. Businesses will often rent products to customers for a period of time as opposed to permanently selling them. This method not only promotes recycling but encourages a long-lasting relationship with customers.
The circular approach to doing business more closely resembles the earth’s natural ecosystem of zero waste and transcends the traditional linear approach of take-make-waste. A circular economy can help to provide a solution to the problem of natural source depletion and pollution.
Not only is circularity attractive to investors, but it is also viewed by global leaders as a solution to achieving climate neutrality and protecting biodiversity.