- It is an economic system that departs from the traditional "Take-Make-Dispose" linear economic model to a closed-loop system.
- Core Principles
- Eliminate Waste and Pollution: Designing out waste and harmful emissions at the product conception phase.
- Circulate Products and Materials: Keeping products, components, and materials at their highest utility and value through the 6Rs (Reduce, Reuse, Repair, Refurbish, Remanufacture, and Recycle).
- Regenerate Nature: Returning biological nutrients back to natural ecosystems (e.g., composting, bio-refining) to replenish natural capital.
- Economic Alignment- Decouples economic activity from the consumption of finite natural resources, improving raw material security and creating "green jobs" in remanufacturing and resource recovery.
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