On 29 November, 2018 the Circular Economy Platform was officially established in Hungary as an initiative of the Business Council for Sustainable Development in Hungary (BCSDH), the Embassy of the Kingdom of the Netherlands, and the Ministry of Innovation and Technology.
The shift to a circular economy represents a great business opportunity. The core of the concept is not yet deeply recognized by most companies, although the use of this model can increase the resilience of the world economy and facilitate the achievement of the Paris Climate Change Agreement and the United Nations Sustainable Development Goals.
BCSDH and its partners play a prominent role in facilitating the paradigm shift and joint thinking, along with building a community of forward-thinking change leaders and sharing business solutions that make a real impact.
For the new model to develop and spread, collaboration and knowledge sharing are required, with the involvement of businesses, government and science.
According to the current so-called linear economic model, technical and biological components are extracted from nature, transformed, and are then disposed of without recycling.
In contrast, in the circular economic model metabolic processes are involved in a closed circle, waste is almost 100% recycled, and biological and technological components are returned to the cycle with minimum loss of quality.