A “circular economy” is one that avoids waste and instead innovatively reuses or regenerates end products. That’s in contrast to today’s largely “linear” economy, in which products are dumped as waste after we’re finished with them — losing value and damaging our environment.
With a circular economy, new business models generate value from end products and even turn those products into services, such as the phenomenon known as car-as-a-service, which minimizes negative impacts on the environment and people. A circular model relies on renewable energy, and an emphasis on human well-being has been incorporated into the concept.
Our new research into circular economy trade is one of only two reports on the topic tying the circular economy to international trade. The report was jointly funded by the Canadian and British governments as they ponder a post-Brexit Canada/U.K. trade deal.
As 2019 dawns, we’re proposing that a worldwide circular economy could be created through international trade and trade agreements like the one that might be forged between Canada and the U.K...
This was excerpted from 2 January 2019 edition of The Canadian Press.