recycle, reuse, regenerate

Circular economy is creating new opportunities for growth

a more circular economy will,

- reduce waste and drive greater resource productivity.
- deliver a more competitive international and regional economy.
- help reduce the environmental impacts of our production and consumption.
- position the country and/or region to better address emerging resource security/scarcity
  issues in the future.
- helps green economy, the economy that aims at reducing environmental risks and ecological scarcities,
  and that aims for sustainable development without degrading the environment. it is closely related
  with ecological economics, but has a more politically applied focus.

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Circular economy is a great support for sustainable growth

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Circular economy is an alternative to a traditional linear economy (make, use, dispose) in which we keep resources in use for as long as possible, extract the maximum value from them whilst in use, then recover and regenerate products and materials at the end of each service life.

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In a world where demand and competition for finite and sometimes scarce resources will continue to increase, and pressure on resources is causing greater environmental degradation and fragility, we can benefit economically and environmentally from making better use of those resources. now major economies have developed a ‘take, make, consume and dispose’ pattern of growth, a linear model based on the assumption that resources are abundant, available, easy to source and cheap to dispose of. It is increasingly being understood that this threatens the competitiveness of Europe.

Moving towards a more circular economy is essential to deliver the resource efficiency agenda and establish strategy for smart, sustainable and inclusive growth, higher and sustained improvements of resource efficiency performance are within reach and can bring major economic benefits.

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Circular economy systems keep the added value in products for as long as possible and eliminate waste. They keep resources within the economy when a product has reached the end of its life, so that they can be productively used again and again and hence create further value. transition to a more circular economy requires changes throughout value chains, from product design to new business and market models, from new ways of turning waste into a resource to new modes of consumer behavior. This implies full systemic change, and innovation not only in technologies, but also in organisation, society, finance methods and policies. 

Even in a highly circular economy there will remain some element of linearity as virgin resources are required and residual waste is disposed of. Industry already recognises the strong business case for improving resource productivity. It is estimated that resource efficiency improvements all along the value chains could reduce material inputs needs by 17-24% by 2030 and a better use of resources could represent an overall savings potential of € 630 billion per year for European industry. Business driven studies based on product-level modeling demonstrate significant material cost saving opportunities for EU industry from circular economy approaches and a potential to boost EU GDP by up to 3.9% by creating new markets and new products and creating value for business. It is not surprising therefore that companies are continually working to improve resource management, but they are held back by a range of market barriers.

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The high-level of resource efficiency platform is required in India like Europe, bringing together selected governments, businesses and civil society organisations and take action to move to a more circular economy, which relies more on reuse and high‑quality recycling and much less on primary raw materials. 

Let's recycle, reuse, regenerate to earn more, to save more and deliver a better planet to our future generations.