Circular economy is an economic system about creating a closed-loop system where products, materials, and resources are kept in circulation for as long as possible. This involves designing products with durability and recyclability in mind, minimizing waste generation, and maximizing resource efficiency throughout the product lifecycle.
Despite the potential benefits, the circular economy faces some challenges:
Conclusion:
The circular economy presents a compelling path towards a more sustainable future for businesses and the planet. By embracing circular principles, businesses can unlock new opportunities, enhance brand value, and contribute to a more responsible and efficient use of resources. As consumers, we can support businesses that prioritize circularity and adopt more responsible consumption habits. The circular economy is not just a trend; it’s a call to action for a more responsible and sustainable future for all.
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From
Shivangi Priya
Research Assistant
School of Commerce and Management
Lingaya’s Vidyapeeth
Top BBA Colleges in Faridabad, Delhi NCR
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