The European Commission has adopted an ambitious new Circular Economy Package to help European businesses and consumers to make the transition to a stronger and more circular economy where resources are used in a more sustainable way.
- The proposed actions will contribute to “closing the loop” of product lifecycles through greater recycling and re-use, and bring benefits for both the environment and the economy.
- The plans will extract the maximum value and use from all raw materials, products and waste, fostering energy savings and reducing Green House Gas emissions.
- The proposals cover the full lifecycle of products: from production and consumption to waste management and the market for secondary raw materials.
This transition will be supported financially by the European Structural & Investment Funds (ESIF), which include €5.5 billion for waste management.
In addition, support will be provided by €650 million under Horizon 2020 (the EU funding programme for research and innovation) and investments in the circular economy at national level.