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Circular Economic Model

957 Words4 Pages

Background Information:
Within the European Union, the Circular Economy directive was proposed to its 52 Member States. Resources are scarce and finite, the environment is suffering the effects of human resource use, and our current economic model allows for the leakage of valuable materials. The present economic system is based on a “linear economic model” that was introduced around the time of the industrial revolution where resources were perceived as near infinite, easy to extract and dispose of. The switch to a “circular economic model” - one that keeps value contained in products during and after their “life” to be reused, repaired, refurbished and recycled yet again - is seen to bring major economic (as well as social and environmental) …show more content…

The industry sector would benefit as material inputs are estimated to be reduced by 17%-24% by 2030, and improved resource use could mean a €630 billion saving per year. The corresponding creation of new markets, products and values is estimated to increase the EU’s GDP by up to 3.9%. Consumers will have greater choice of environmentally friendly and affordable goods and services, and citizens will live in a cleaner and healthier environment with longer lasting, reparable products, less waste, and better waste disposal infrastructure.

The main goals of the new framework: “Towards a circular economy: a zero waste program for Europe” are reducing waste in order to cut greenhouse gas emissions, boost local economy, create jobs and increase recycling as means to keep valuable materials within Europe.

In order to achieve these goals, the European Commission (EC) has adopted a specific and detailed legislative proposal to review recycling and other waste related targets in the EU. The proposal’s goals can be separated into three …show more content…

Moreover, there must be reflective regional economic development practices in place that anticipate and avoid potential lock-ins. In addition, the EC needs to be aware that a lot of active cooperation between European agencies, member states, SME’s and other stakeholders is essential for the success of transforming the EU into a circular economy. Furthermore, the significance of having clear deadlines for the development and implementation of environmental indicators and a shared resource efficiency target are highlighted. Finally, it is stated that the negative effects of the change towards a circular economy on some employees and businesses needs to be mitigated by ensuring that the educational and training sector is able to iron out disadvantages caused by it. The overall most important implication, however, is that the circular economy policy strengthens the EU’s position and perception as one unified body in the global economic market as well as in the global political

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