CIRCULAR ECONOMY
The European Commission has set an ambitious agenda to transform the EU economy into a circular one, where the value of products and materials is maintained as much as possible, yielding significant economic benefits.
Our current linear economy is not sustainable. The transition to a more circular economy could bring benefits, including reducing environmental pressures, by decoupling resource consumption, improving security of raw material supply and increased competitiveness, innovation, growth and jobs. However, there are also challenges, such as funding, key actors and accelerators, skills, consumer behavior, business models, multilevel governance.
The circular economy can be defined as "a model of production and consumption, which includes the exchange, rent, reuse, repair, repurpose, renovation and recycling of existing materials and products as much as possible in order to extend their life cycle. In practice, the circular economy suggests reducing waste to the lowest possible level. When a product reaches the end of its life, its construction materials are kept in the economy in any possible way to be used again and again, creating added value to the product ".
In March 2020, the EU adopted a new "Circular Economy Action Plan for a cleaner and more competitive Europe" - as part of the new Industrial Strategy - one of the key parts of the European Green Deal. The aim of the “Action Plan” is to address the sustainability challenges posed by key value chains: (1) Electronics and ICT, (2) Batteries and vehicles, (3) Packaging, (4) Plastics, (5) Textiles, (6) Construction and buildings, and (7) Food, water and nutrients. The action plan introduces legislative and non-legislative measures and targets areas where action at EU level brings real added value.
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