What is a Circular Economy?
The NSW Environmental Protection Authority (EPA) defines the term circular economy as valuing resources by keeping products and materials in use for as long as possible.
By valuing waste resources as a commodity (an item of trade or commerce), recyclable materials enter into a cycle of reuse and repurpose and directly decreases the need to extract raw, non-renewable materials.
Changing the way we produce, assemble, sell and use things ultimately results in minimising waste, reducing our environmental impact and enhancing the economy through encourages innovation and job growth.
WHY IS A CIRCULAR ECONOMY IMPORTANT?
Historically, waste has been processed in a mostly linear economy – take, make and dispose. It has been identified that this current pattern of resource use and waste generation is no longer sustainable. A circular economy is the most appropriate alternative.
Moving to a circular economy will provide long-term economic, social and environmental benefits for not only our town, but our country and the entire global community. The transition will generate jobs, create a more robust economy, increase the accessibility of goods, maximise the value of resources and reduce waste.