The circular economy is an economic model that seeks to reduce waste and the consumption of resources by promoting the reuse and recycling of products. The idea is to design products and systems that are restorative and regenerative by nature, so that they can be reused or recycled at the end of their life cycle. This approach can help to reduce the environmental impact of consumption and production, and to create new business opportunities.

It is based on three main principles: design for longevity, design for disassembly, and design for recyclability. By designing products that are easy to repair, upgrade, and recycle, companies can reduce waste and create new revenue streams. For example, a company that produces smartphones could design a phone that is easy to repair and upgrade, rather than one that is disposable and must be replaced every few years.

Circular economy is not just about designing products that are more sustainable, but also about creating new business models that promote sharing, collaboration, and innovation. For example, a company could create a platform that allows customers to share goods and services, rather than owning them outright. This approach can help to reduce waste and create new opportunities for growth and innovation. Overall, the circular economy is an important concept that has the potential to transform the way we produce and consume goods and services, and to create a more sustainable and regenerative economy.