PRINCIPLES OF THE CIRCULAR ECONOMY

Abstract

Sustainability has become a vital part of many business strategies in the companies, which has prompted growing interest in the circular economy. While the terms circular economy and sustainability are increasingly gaining traction with academia, industry, and policymakers, the similarities and differences between both concepts remain ambiguous. The holistic view is fundamental to understanding the circular economy, which is not simply focused on using less. The circular economy aims to keep products, comp onents and materials at their highest utility and value at all times. It is restorative and regenerative, and ultimately does reduce resource consumption. But it is also a classic economy in the sense that all activities are aimed at generating an economic benefit. The circular economy aims to keep products, components and materials at their highest utility and value at all times. It is restorative and regenerative, and ultimately does reduce resource consumption. But it is also a classic economy in the sense that all activities are aimed at generating an economic benefit.