As per the , a听circular economy seeks to rebuild capital, whether this is financial, manufactured, human, social or natural. This ensures enhanced flows of goods and services.
In a circular economy, economic activity builds and rebuilds overall system health. The concept recognizes the importance of the economy needing to work effectively at all scales 鈥� for large and small businesses, for organisations and individuals, globally and locally.
Transitioning to a circular economy does not only amount to adjustments aimed at reducing the negative impacts of the linear economy. Rather, it represents a systemic shift that听builds long-term resilience, generates business and economic opportunities, and provides environmental and societal benefits.
Outline of a Circular Economy
Image by Ellen MacArthur Foundation..
Three Principles
Preserve and enhance natural capital by controlling finite stocks and balancing renewable resource flows
Optimize resource yields by circulating products, components and materials in use at the highest utility at all times in both technical and biological cycles
