It is common ground that we live in a finite world with a limited availability of natural resources. Yet, our current economic system is based on unlimited growth and extraction. Usually, this system is referred to as a linear economy model, where take - make - use - waste are the distinct steps of processing and later disposal.
If everyone on the planet consumed like the average European, we would need almost three planets earth to sustain the global economy.
Only recently, in March 2020, the EU has adopted circularity as the new economic paradigm for Europe. So what exactly is a “circular economy” and how can companies respond to this new economic paradigm?