The circular economy is a regenerative economic system aimed at eliminating waste, reducing resource consumption, and promoting sustainable growth. Unlike the traditional linear economy, the circular economy strives to keep products, materials, and resources in use for as long as possible through recycling, reusing, refurbishing, and re-introducing the products again in the market in the useable state. It’s designed around three core principles:

1. Designing out waste and pollution by considering environmental impacts from the start.

2. Keeping products and materials in use through reuse, repair, remanufacturing, and recycling.

3. Regenerating natural systems by returning resources to ecosystems and minimizing environmental degradation.