Article written by Lisa McLean, Open Cities
Image by Riccardo Annandale, Unsplash.com
As the global economy prepares for 9.8 billion people by 2050, it’s clear our linear economy is reaching the end of its life.
Global economic leaders are now planning for a world circular economy to decouple economic growth from resource use. G20 leaders will hear about the circular economy when they are hosted by Japan – a global circular economy leader – later this month.
It’s no secret our global over-consumption economy will come to the end of its life and we need a Plan B.
Currently, our economy is built on single use “take, make and dispose” principles involving extracting resources, making products, using them once or only a short time, then disposing of them.
A circular economy keeps products and materials in use in the market longer, through sharing, repairing and reusing.