Circular Economy
The circular economy is a production and consumption model characterized by the principles of sharing, reusing, repairing, renovating, and recycling existing products and materials for an extended lifespan, thus preserving their value. In this economic model, used products are kept within a series of loops, transforming them into precious resources rather than allowing them to become waste. The objective is to supplant the current linear economy, which relies on finite resources—extraction of minerals, conversion into manufactured goods, and eventual disposal at the end of their useful life.