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Aleksi, Edward & Elina

Circular Economy: Definitions and Stakeholders

CIRCULAR ECONOMY DEFINED 

"The circular economy refers to an industrial economy that is restorative by intention; aims to rely on renewable energy; minimise, tracks and eliminates the use of toxic chemicals; and eradicates waste through careful design." 

(Ellen MacArthur Foundation)

The definition by Ellen MacArthur Foundation concentrates on designing industrial production so that environmental benefits can be gained.

"Circular economy means re-using, repairing, refurbishing and recycling existing materials and products. What used to be regarded as ‘waste’ can be turned into a resource. All resources need to be managed more efficiently throughout their life cycle." 

(European Commission)

This definition of circular economy by the European Commission emphasizes the importance of efficient resource management from the point of view of environment as well as financial benefits. Consequently, besides reducing environmental impact, the goals of the EC's Circular Economy package that includes the communication "Towards a circular economy: A zero waste programme for Europe" (2014) are related to creating jobs and boosting the economy.

Here are some examples on European companies that have found new business opportunities in circular economy:

MUD jeans (the Netherlands)

Business model of leasing jeans and recycling of old jeans to make new cotton thread. Using only organic and recycled cotton.

Fonebank (the UK)

Old phones are repaired and sold again to developing countries and also to Europe.

Umicore (Belgium)

Old phones and other high-tech products dismantled and precious metals are collected.

Win-win-win for environement and businesses. Creating new jobs and serving as a response the shortage of raw materials in Europe.

The following video explains how these companies do their business:

I found this video very inspiring and liked especially the idea of leasing clothes. Actually, I liked the idea so much that I started looking for a birhtday present for my boyfriend on MUD Jeans' web site :).

More examples on companies can be found on this web site as well:

http://www.ellenmacarthurfoundation.org/case_studies

Elina