What are the main principles of circular economy?

The main principles of circular economy are as follows:

1. Design out waste and pollution: This principle focuses on designing products and systems in a way that eliminates waste and pollution from the outset. It involves using renewable materials, minimizing the use of toxic substances, and ensuring that products are designed for durability, repairability, and recyclability.

2. Keep products and materials in use: This principle emphasizes the importance of extending the lifespan of products and materials. It involves promoting reuse, repair, and remanufacturing to keep products in circulation for as long as possible. Additionally, it encourages the development of sharing platforms and collaborative consumption models to optimize resource utilization.

3. Regenerate natural systems: This principle recognizes the need to restore and regenerate natural resources and ecosystems. It involves adopting sustainable agricultural practices, promoting reforestation and habitat restoration, and ensuring the responsible management of water resources. By prioritizing the health and resilience of natural systems, circular economy aims to minimize environmental degradation.

4. Preserve and enhance value: This principle focuses on extracting maximum value from products and materials throughout their lifecycle. It involves adopting strategies such as recycling, upcycling, and energy recovery to ensure that resources are utilized efficiently and effectively. Additionally, it encourages the use of renewable energy sources and the reduction of energy consumption to preserve value and minimize environmental impact.

5. Foster collaboration and innovation: This principle highlights the importance of collaboration and innovation in driving the transition to a circular economy. It involves fostering partnerships between businesses, governments, and civil society to share knowledge, resources, and best practices. Additionally, it encourages the development of new business models, technologies, and policies that support the circular economy transition.

Overall, the principles of circular economy aim to create a regenerative and sustainable economic system that minimizes waste, maximizes resource efficiency, and promotes the well-being of both people and the planet.