efnahvörfa

Efnahvörfa is an Icelandic term that translates to "economic recycling" or "circular economy" in English. It refers to a systemic shift from a linear economic model, characterized by "take-make-dispose," to one that is restorative and regenerative by design. The core principle of efnahvörfa is to keep products, components, and materials at their highest utility and value at all times, distinguishing between technical and biological cycles.

In the context of efnahvörfa, waste is minimized and resources are reused, repaired, refurbished, and recycled. This approach aims to decouple economic growth from the consumption of finite resources and reduce environmental impact. It encourages innovative business models that focus on product longevity, service provision rather than ownership, and the use of renewable energy and materials. The goal is to create a more sustainable and resilient economy that benefits both people and the planet. Efnahvörfa is gaining traction in Iceland as a strategy to address environmental challenges and foster economic opportunities.