The circular economy is an alternative model for economic, industrial and social organisation aiming to minimise resource input and maximise resource value. It is actively countering the major loss of value and increased pressures of climate change across the planet, while creating local resilience. It does so by a reimagining the product lifecycle to become a regenerative, closed-loop paradigm for products and services.

While most of its practical applications can be traced back to the 70s, it has been gaining momentum in the past years thanks to the exceptional work of the Ellen MacArthur Foundation. According to the foundation, "the generic concept has been refined and developed by the following schools of thought: Cradle to Cradle, Performance Economy, Biomimicry, Industrial Ecology, Natural Capitalism, Blue Economy, Regenerative Design."