Circular economy

Definition: economic system that uses a systemic approach to maintain a circular flow of resources by recovering, retaining, or adding to their value, while contributing to sustainable development.

Notes on definition:

  • Note 1 to entry: Resources can be considered concerning both stocks and flows.
  • Note 2 to entry: From a sustainable development perspective, the inflow of virgin resources is kept as low as possible, and the circular flow of resources is kept as closed as possible to minimise emissions and losses (waste) (of resources) from the economic system.

Source: ISO 59004:2024

Type of source: Standards

CLEPA Comments:

  • Comment 1: among all the existing definition, CLEPA members decided on the definition from ISO59004, 2024 due to the fact that was developed by ISO after reviewing more than hundred existing definitions. Additionally this definition will be also adopted by Corporate Sustainability Reporting Directive (CSRD). There are several circular economy strategies available such as 10 R- Framework.