Every year, the European Union generates more than 2.5 billion tonnes of waste. It is currently updating its waste management legislation in order to promote a shift to a more sustainable model known as the circular economy. Please find more information here: https://www.europarl.europa.eu/news/en/headlines/economy/20151201STO05603/circular-economy-definition-importance-and-benefits

The circular economy is a production and consumption model that promotes the reuse, repair, refurbishment, and recycling of existing materials and products for as long as possible. Products' life cycles are thus extended in this manner. Please find more information here: https://www.europarl.europa.eu/news/en/headlines/economy/20151201STO05603/circular-economy-definition-importance-and-benefits

Moving toward a more circular economy could provide benefits such as reducing environmental pressures, improving raw material supply security, increasing competitiveness, stimulating innovation, boosting economic growth (an additional 0.5 percent of GDP), and creating jobs (700,000 jobs in the EU alone by 2030). Please find more information here: https://www.europarl.europa.eu/news/en/headlines/economy/20151201STO05603/circular-economy-definition-importance-and-benefits

The global population is increasing, as is the demand for raw materials. However, critical raw materials are in short supply. Because of limited supplies, some EU countries rely on other countries for raw materials. Furthermore, the extraction and use of raw materials has a significant environmental impact. It also increases CO2 emissions and energy consumption. However, by making better use of raw materials, CO2 emissions can be reduced. Please find more information here: https://www.europarl.europa.eu/news/en/headlines/economy/20151201STO05603/circular-economy-definition-importance-and-benefits