A new action plan was adopted by the European Commission (EC) in March of 2020: the Circular Economy Action Plan, also known as CEAP.
With its various initiatives, it promotes the consideration of the entire life cycle of a product, the advancement of sustainable consumption and the goal of preventing waste and ensuring that the resources used can remain in the EU economy for the greatest possible length of time.
The first part of this series - "The Circular Economy - Part 1: Factors Contributing to Waste in the EU" - the concept of circularity was examined through a historical and theoretical lens in order to establish a basic understanding of the argument for circularity. This guide is a continuation of that work, focusing on the practical applications and the benefits for businesses associated with a circular economy.
This guide will address the following:
- Establishing what a circular economy inherently is
- Various benefits associated with going circular for companies
- Ways in which a conceptual framework can be put into practice for businesses
