Hringrásarhagkerfislíkana

Hringrásarhagkerfislíkana, often translated as circular economy models, refers to economic systems designed to decouple economic activity from the consumption of finite resources, while regenerating natural systems. Unlike the traditional linear economy, which follows a "take-make-dispose" model, circular economy models aim to keep resources in use for as long as possible, extract the maximum value from them whilst in use, then recover and regenerate products and materials at the end of each service life.

Key principles of circular economy models include designing out waste and pollution, keeping products and materials in use, and regenerating natural systems. This involves strategies such as product reuse, repair, remanufacturing, and recycling. The goal is to create a closed-loop system where materials are continuously cycled, minimizing the need for virgin resources and reducing environmental impact.

Implementing circular economy models can lead to various benefits, including reduced resource depletion, lower greenhouse gas emissions, enhanced material security, and the creation of new business opportunities and jobs. It represents a fundamental shift in how economies operate, moving towards a more sustainable and resilient future. The transition requires innovation in product design, business models, and policy frameworks.