The circular economy: from waste to resource stewardship, part I

Abstract

This paper, the first of two, outlines the origins and interpretations of the circular economy. The paper will argue that what started as a theoretical construct is gradually becoming an idea accepted by businesses and some policy makers as conveying an important aspiration for the future, namely to keep resources in economic use for as long as possible. This represents an important shift; it is a departure from much of the business and policy debate up until the past decade, which has focused on managing wastes rather than preserving resources and value through waste prevention, and moving towards a richer understanding of resource stocks, flows and efficiencies. Most importantly, the paper will argue that a more circular economy should be as much a goal of economic policy as of environment policy, and that all players should be pressing home this point with policy makers.