Transitioning to a circular economy necessitates new business ecosystems Tomorrowâ&#x20AC;&#x2122;s successful companies will be those implementing circular business models and moving away from the current model of take, make and dispose. By decoupling economic growth from the everincreasing extraction of raw materials and non-renewable resources, circular business models are designed to keep resources at their highest value for the longest possible time while minimizing waste. Transitioning to a circular economy necessitates new business ecosystems, with new mindsets, capabilities and partnerships. Axfoundation is working to find and develop solutions rooted in the principles of the circular economy using business as driving force and in collaboration with various partners. In todayâ&#x20AC;&#x2122;s linear economy, value is created by
Principles of a circular economy Design out waste and pollution Keep products and materials in use Regenerate natural systems
producing and selling as many products as possible. However, increasing resource scarcity and depletion means that previously profitable business models now carry significant risks. A significant change is necessary. Companies who implement circular business models concentrate on rethinking products and services by working towards durability, renewability, reuse, repair, replacement, upgrading, refurbishment and reduced material use. Through these strategies, companies can design out waste, increase resource efficiency and decouple growth from natural resource consumption. Axfoundationâ&#x20AC;&#x2122;s Circular Economy program was initiated in 2019 to locate, pilot and scale such business models, and future resource and material flows.