Circular economy: Is there anything new in this concept?

Excerpt

The term, Circular Economy, is beginning to be seen with some frequency in technical journals. The term originated in the field of inquiry known as environmental economics. Only a year ago, the concept was officially promoted by the World Economic Forum, which in 2018, in collaboration with several governments and non-governmental organizations (NGOs) such as World Resources Institute (WRI) and Ellen MacArthur Foundation, published a document called Platform for Accelerating the Circular Economy (PACE) to stimulate developments that adopt the principles of Circular Economy. Several multi-national corporations are also participants in implementing PACE. At the political level, this idea of development is now included in the European Union Horizon 2020 strategy. Several standards agencies in the European Union are also engaged in preparing guidance documents for implementation. The concept is illustrated in the figure below (https://​en.​wikipedia.​org/​wiki/​Circular_​economy).

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