The European Commission has adopted an ambitious new Circular Economy Package to help European businesses and consumers to make the transition to a stronger and more circular economy where resources are used in a more sustainable way.
The proposed actions will contribute to "closing the loop" of product lifecycles through greater recycling and re-use, and bring benefits for both the environment and the economy. The plans will extract the maximum value and use from all raw materials, products and waste, fostering energy savings and reducing Green House Gas emissions.
The proposals cover the full lifecycle of products: from production and consumption to waste management and the market for secondary raw materials. This transition will be supported financially by the European Structural & Investment Funds (ESIF), which include €5.5 billion for waste management. In addition, support will be provided by €650 million under Horizon 2020 (the EU funding programme for research and innovation) and investments in the circular economy at national level.