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Circular Economy: A More Sensible Use of Resources

March 23, 2021
François Dupuis, Vice-President and Chief Economist • Mathieu D’Anjou, Deputy Chief Economist • Joëlle Noreau, Senior Economist

The circular economy (CE) is not a new sector of the economy or a parallel economy. Briefly, it is another way to meet the population’s needs and reduce waste. It constitutes a break with current approaches. The CE is forcing a change in how we design, produce, consume and dispose of products once their useful life is over. It is an additional tool for taking another look at how resources are used, resources that, at the current pace, could be exhausted fairly soon. The CE requires communication, networking and sharing. It demands a realignment between the sources of supply, product design, product production, consumption and disposal. If no action is taken, severe commodity shortages could compromise economic growth and population well-being. In this context, every effort must be deployed to avoid these problems. The CE is one of the solutions.