Transition to a Circular Economy

This chapter on the Circular Economy is a cornerstone in this book but also in understanding the great transition. The Circular Economy (CE) completely changes the market conditions, the consumption, and the businesses. To drive the transition it is important to have a picture on how a Circular Economy will look in future. This chapter describes the principles of the Circular Economy in detail, how businesses are the transformers to a Circular Economy, how new material loops are created, and how all stakeholders are important in creating the Great Transition to a Green and Circular economy. Businesses and consumers go hand in hand to create the sustainable consumption that many in the old, industrialized world are aware of the need for. The goals of a Circular Economy is to become independant of virgin resources and to abolish the principle of waste to make resources and values long lasting. The Circular Economy is important in reestabishing the ecomonies creating stable supply chains at predictable prices based on reused products and recycled materials. This chapter provides the roadmap and guidance in a company persective for a Circular Economy, including examples of a CE from varioius industries. The Chapter also describes the difference between a Circular Economy and a Sharing Economy. At the end the positive and regenerative impacts of a Circular Economy is highlighted.