Circular Economy
A system designed to maximize the lifespan of products and materials by maintaining them in use for as long as possible. This approach contrasts with the traditional "linear economy," which involves extracting raw materials, manufacturing products, and disposing of them at the end of their life. In a circular economy, the goal is to minimize waste and the use of harmful substances by redesigning, reusing, recycling, and regenerating products and materials. This model promotes resource efficiency, reduces environmental impact, and creates value from waste by reintegrating it into the production process.
"EcoCycle Ltd. redesigned its manufacturing process to align with circular economy principles, creating products that can be easily disassembled and repurposed. By ensuring that materials are reused rather than discarded, the company drastically reduced waste and created a closed-loop system that minimizes resource extraction and environmental impact."