Circular economy could be known as conservation of natural resources and waste reduction. This is the essence of the circular economy. This new economic model aims to rethink our production and consumption models to limit the waste of natural resources and to limit the production of waste.
The aim of Circular economy is to produce goods and services in a sustainable manner, limiting consumption, and waste generation. Circular economy could be more specifically defined as transitioning from a linear economy (extract, produce, consume, throw away) to a more circular economy, meaning: sharing, renting, reusing, repairing, renovating and recycling materials and existing products as often as possible to create added value.
The basic idea behind the Circular economic model is to extend the life of products and give them a second life. It is for this reason that the concept of the 7Rs was created:
Redesign: the idea of environmental-conception takes into account environmental impacts as another factor to consider when designing products;
Reduce: reducing your consumption and optimizing resources
Reuse: giving a second use to products
Repair: lengthening the useful life of a product
Renovate: reusing products for other things which may also be useful
Recover: the circular economy favors sharing things
Recycling: giving a second life to our waste.