ABSTRACT
The Circular Economy (CE) will require new approaches and a radical re-think of business and investment models. Traditional models aiming for ‘increased revenues by selling more’ will need to be replaced with approaches related to ‘added value, less consumption’. The learning point here is that ‘added value’ will need to be ‘felt’ by consumers as well as by the businesses. Social value (SV) of products and services will be a critical element of what is ‘felt’ and will be central to the success of CE approaches. Life Cycle Thinking is a necessary part of assessing the overall benefits (social, environmental and economic) and should be embraced in new product and business model design.
