By July 2017, humanity had consumed all the resources the planet can renew in a year. We are living "on credit" until 31 December. The circular economy appears to be one of the best solutions for adapting our current economic model without harming the environment or violating social and societal values. What is the circular economy, and can this approach play a role in the group's strategy? The term "circular economy" refers to a set of simple principles that contrast sharply with those we follow today. Specifically, these practices involve using renewable resources and avoiding the production of non-recyclable waste.
Through its seven action pillars, the circular economy promises to optimise the use of resources, minimise waste, extend the lifespan of products and buildings, and redirect society towards a zero-waste philosophy through environmentally friendly design and the development of closed production loops (repair, reuse, and recycle). In an effort to apply circular economy principles, many industries, including the food, automobile, and household appliance sectors, have started adopting innovative business methods, including responsible sourcing, the creation of synergies between local economic actors, and the functional economy, in which the use of a product is sold rather than the product itself (a car-sharing service is one example).