Circular economy - closing the loop with innovative solutions

The transition to a circular economy is crucial for businesses to become more efficient, sustainable, and eco-friendly. Innovative solutions can facilitate this shift from a linear economy to a closed-loop system by creating multi-life products and new job opportunities. Good design is essential for sustainable production and use, including repairability and retrievability of products. Resource efficiency is key to using existing resources more efficiently and developing technologies that encourage cross-sectoral collaboration. A shift in consumer mindset is necessary to move from disposable consumerism to leasing or exchanging products. The circular economy offers limitless opportunities for innovation, and companies can team up with others from other industries to find solutions to meet rising needs.