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An Introduction to Circular Economy

Future Outlook

Abstract

Given the crisis humanity is facing today, this chapter urges all stakeholders to take coherent action today and tomorrow for the transition to a circular economy. To help readers visualize a circular economy of the future, it provides a scenario of a circular economy in a community where both biological and technical cycles are closed; renewable energy drives transportation, production, and consumption. The community take care of the health of themselves and their environment and practice 6 Rs (re-use, repair, refurbish, remanufacture, recycle and recover) along the life cycle of a product at personal and professional levels. Circular supply chain is mapped. The chapter further summarizes circular economy transition enabling factors such as life cycle thinking, materials passports, and ubiquitous digitization to become integral of industries and services. In addition, it addresses the challenges ahead and concludes on the importance of education for providing circular economy workforce.

Author

Lerwen LIU
Associate Professor in Entrepreneurship
Nanyang Technological University

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