Many natural resources are finite and need to be used in a smarter, more sustainable way.
The European Commission’s Circular Economy Action Plan sets out 54 ways to "close the loop" of product lifecycles. It puts a major emphasis on finding new, innovative means to move away from a 'take-make-dispose' culture, for instance by recycling and re-using products for longer.
This approach helps to drive forward not just environmental, but also economic progress.
A circular economy can offer major benefits:
- 450 million fewer tonnes of EU carbon emissions by 2030
- Savings of €600 billion for EU businesses (8% of their annual turnover)
- 580,000 new jobs
The Action Plan is accompanied by over €10 billion in funding, confirmed by the Commission for 2016-2020.
Work has advanced to the point where all measures within the Action Plan are either underway or completed. Further information on progress can be found here