I was a bit familiar with sustainable production and design, cradle to grave, closing the loop, and extended producer responsibility, and the circular economy covers these, but is also much more. European companies are already concerned about strategic raw materials, especially rare-earth materials like lithium used in electronics. Naturally, the country’s need for and consumption of raw materials will continue to grow, putting pressure on other countries to secure supplies of strategic raw materials at costs that will not compromise future economic development. Europe is looking at the circular economy as a strategy towards this objective. The circular economy concept might appear a bit science fiction considering the continued pervasive use of disposable or single use items such as plastic cups even in Europe.

Source: Manila Times December 17, 2017 16:30 UTC