Circular economy
It is an economy where production and consumption are based on sharing, reusing, repairing, renovating and recycling existing materials and products for as long as possible. This prolongs the life of the products and reduces the amount of waste. When a product reaches the end of its life, the materials from which it is made are retained in the economy as much as possible. In this way, they can be reused over and over again, which further creates value and justifies the notion of a "circular economy".