A circular economy is a nonlinear approach aiming to eliminate waste and pollution, keep products in use for longer, make better use of finite resources and help regenerate natural systems. In recent years, its critical role in combating global challenges, most notably climate change and in supporting humankind's quest for a sustainable future is gradually being recognized, evidenced by consensus in global events such as COP28.
Despite public discourse around the concept nearly tripling in the past five years, global circularity has declined. The 2024 Circularity Gap Report by Circle Economy Foundation reveals a gradual decrease in global circularity from 9.1% in 2018 to 7.2% in 2023. The public's consensus and increased awareness of the circular economy have not been effectively translated to practical implementation.
Enhancing circularity, the cornerstone of the circular economy, requires a concerted effort from society. Both the public and private sectors play a critical role in driving consumers' participation in recycling and reuse. This article delves into three critical ways to realize a circular economy through increased circularity: policy incentives, consumer education and a closed-loop system.
Faced with the pressing challenges of resource depletion and environmental degradation, major economies worldwide are moving forward with policy frameworks to bolster circularity, demonstrating a growing commitment to circular economy principles worldwide. The EU's new circular economy action plan (CEAP), adopted in March 2020, inherited its earlier version in 2015.
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