In a circular economy, the value of products and materials is maintained for as long as possible. Waste and resource use are minimised and when a product reaches the end of its life, it is used again to create further value.
Business models that increase the value and use of a product during an extended life are essential to shift to a circular economy. Over time, extending product life through proper care and repair reduces the need for people to buy more.
Cities have an important role to play in the transition to a circular economy. They host most of the world’s population, generate about half of the planet’s waste and consume 70% of all resources and energy. For information and support on how to finance circular economy in an urban context, visit the website Circular City Funding Guide.
The EIB, together with the InvestEU Advisory Hub and the European Commission, is also supporting cities in their circular economy transition through the Circular City Centre (C3), which offers guidance documents, webinars and circular city and project advisory programmes.
But what does a circular city look like? Find out in this video.
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