Rethink Circularity: European Circular Economy Summit 2024

In the era of net-zero and digitalization, it is necessary to rethink the circular economy. Defined by the European Commission as "where the value of products, materials and resources is maintained in the economy for as long as possible, and the generation of waste is minimized," the circular economy aims to decouple economic growth from resource consumption. To achieve more sustainable development models and meet the 2050 Net-zero target, the EU launched a new Circular Economy Action Plan in 2020. The benefits of the circular economy extend beyond achieving climate goals and reducing resource consumption, it also enhances business profitability, creates new commercial opportunities, and improves supply chain resilience. The development of digital technologies provides essential support for achieving cradle-to-cradle cycles in the circular economy.