Transitioning to a circular economy – the role of innovation

Abstract

In recent years the circular economy concept has received significant attention on various platforms. In contrast to the current conventional linear economic model (takemake-consume-dispose), the circular economy concept is a development strategy that enables economic growth while aiming to optimise the chain of consumption of materials. Adoption of the circular economy, however, requires significant transformation of production chains and consumption patterns in order to keep materials circulating in the economy for longer. While there are some elements of circularity in South Africa, such as recycling and composting in the linear economy, a circular economy goes beyond the pursuit of waste prevention and waste reduction to inspire technological, organisational and social innovation across and within the value chains. In this regard, numerous potential benefits are derived from the transition to a circular economy, with innovation playing a key role in support of such transition.

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