What is a circular economy

Australia's Circular Economy Framework defines the circular economy as:

An economic model that promotes sustainable and efficient use of resources as a way to support environmental, economic and social outcomes. It shifts away from the current linear 'take, make, dispose' consumption approach to one that maintains a circular flow of materials by recovering, retaining, or adding to their value.

Moving to a circular economy model means businesses and manufacturers will design for durability, repairability, reusability, remanufacturing and recycling.

For this shift to be successful, it's essential for the community to champion the transition, helping drive demand for products made with recycled content and sustainable practices.

Key principles of a circular economy

• Design out waste and pollution: Things can be used better through purposeful design. When things are designed from the beginning to be repaired, reused and recycled, it's much easier to do so. For example, products that are made to be taken apart are easier to fix and be used for longer.
• Keep products and materials in use at their highest value: By targeting how we use and dispose of products and materials, we can keep them in our economy for longer. This can mean buying durable products, reusing and repairing. When recycling, we avoid downcycling, which is turning the product into a lower grade material.
• Conserve natural resources and regenerate nature: The speed at which we are using resources is damaging our environment. When transitioning to a circular economy, actions are considered across product and material lifecycles to ensure our impact on the environment is reduced and ideally mitigated.

Benefits of a circular economy

A circular economy offers numerous advantages:

• Environmental protection: Reduces the need to extract new natural resources, minimises waste and pollution, and contributes to a healthier planet
• Resource recovery: Optimises the use of resources we already have and reduces the need for virgin materials
• Economic growth: Encourages innovation, creates new industries and jobs in the repair, remanufacturing, and recycling sectors
• Enhanced competitiveness: Businesses can gain a competitive edge offering more sustainable and resource-efficient products and services

ReMade in Australia is a positive step in Australia's transition toward a circular economy by focusing on the use of recycled materials. It encourages design innovation - getting more out of materials that are currently in our economy by using them again.

Businesses will soon have the opportunity to apply for the program. Sign up to keep up-to-date with the program.