Towards the circular economy: A commentary on corporate approaches and challenges

The concept of the circular economy is gaining momentum within the business world, and it is seen as an important element in the transition to a more sustainable future. Circular economies are built around a range of activities that look to reduce the demand for raw material inputs and natural resources and to recover, recycle, and reuse those inputs and resources as an integral part of the production process. As such, the concept of the circular economy restorative and regenerative and is contrasted, by its proponents, with the traditional “linear economy” that turns raw materials into waste in the production process and that is seen to lead to environmental pollution and the removal of natural capital from the environment. This commentary paper outlines the characteristic features of the concept of the circular economy, outlines how a number of companies are adopting circular economy approaches, and offers some general reflections on the application of the concept.