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Definition of Circular Economy
A uniform definition of Circular Economy is required because branding of the companies and initiatives involved need reliability and a communicative basis.
There are some approaches and definition attempts. Here are a few examples, afterwards we at nice have created a structured and summarized definition, feel free to send us comments and remarks.
The nice definition of Circular Economy
- Circular Economy is a system in which procurement and production minimize new resource use, waste generation, emissions and energy waste.
- This enables consumption that is in line with sustainability goals, because in the Circular Economy ecology and economy are no longer in competition with each other.
- Different uses of a material can follow each other during or after the product life cycle, such as reuse, upcycling or recycling.
- One use can be extended for a long time or distributed to as many users as possible. For example, in long-life constructions or take-back and resale models such as renting, sharing, refurbishment or second-hand.
Combinations of these models can encourage material tracking and novel uses such as non-transfer of ownership.
- The use of toxic substances or those with known negative effects on living beings and the environment is excluded.
- Utilized energies must be as green as possible.
- Fairness and the avoidance of social injustice along the entire supply and disposal chains shall be kept in mind and included in metrics and labels accordingly.
- Natural systems that can bind CO2 or microplastics, for example in soils and plants, must be protected or regenerated.