The circular economy is driven by the idea that sustainability must not be limited to individual sectors. All resources and production routes must be integrated into a sustainable economy, otherwise the next raw materials crisis is only a matter of time. The 3Rs: Reduce, Reuse and Recycle are decisive for this. In other words, the overall use of raw materials should be reduced, products should be used more frequently, and raw materials should be reusable.
The advancement of a circular economy entails various advantages. Reuse and recycling slow the use of natural resources, reduces habitat destruction, and limits biodiversity loss. Overall, the circular economy greatly reduces the environmental impact of a product. Additionally, the circular economy not only helps protect the environment, but can also minimize raw material dependencies.
Innovations in the field of circular economy have been promoted for many years and cover numerous areas of society such as mobility, energy and industry, agriculture, and biotechnology. One example is the concept of "Smart Waste Management Systems." These systems use advanced technologies such as sensors, Internet of Things (IoT), and artificial intelligence to efficiently monitor, control and optimize waste flow. Innovations in the circular economy are necessary to enable a sustainable transformation of our global economic system.