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This collection features a selection of inspiring examples of the circular economy, compiled in the context of the Switch to Circular Economy Value Chains programme (SWITCH).

Launched in 2020, SWITCH is a five-year initiative that assists EU multinational companies and their suppliers from developing countries to switch to more circular economy approaches and practices in three selected value chains: [Plastic Packaging](https://knowledge-hub.circle-lab.com/switchtocircular/search?collections=832%3D0&framework_elements__5=111), [Textile & Garments](https://knowledge-hub.circle-lab.com/switchtocircular/search?collections=832%3D0&framework_elements__5=99), and ICT and Electronics.

The overall objective of SWITCH is to support the “transformation towards a circular economy”, and to contribute to sustainable growth, low carbon and climate resilient development, decent jobs creation, and a safer, healthier and pollution-free environment.

SWITCH is co-funded by the European Union and the Government of Finland, and implemented by UNIDO, in collaboration with Chatham House, Circle Economy, and the European Investment Bank.
Learn more at www.switchtocircular.eu

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Switch to Circular Economy Value Chains

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Business case

Direct and indirect reduction in economic costs

Cost Savings

Direct and indirect effects that increase revenues or the potential for new revenues, for example from new products, customer segments, partnerships or business models

Revenue Potential

Efficiency gains on operations or transactions either through cultural or technological shifts

Productivity

Reduced green house gas emissions released into the biosphere

Reduce Emissions (SDG13)

Reduced use and withdrawal of water and rate of recycling and reuse of water

Save Water (SDG6)

Reduced use of fossil fuel energy sources and/or increased use of renewable energy

Reduce Energy Consumption

Producing textile and leather products and processing them into apparel and accessories

Fashion and Textiles

Enacting measures that optimise water use

Water efficiency

Enacting measures that optimise energy use

Energy efficiency

Using renewable energy like solar, wind, etc. or renewable fuels like biomass, etc.

Renewable energy, fuels

Impacts

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Industries

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The principles of a circular economy concern designing out waste, regenerating ecosystems and keeping items in use. Decoupling the economy from material flows—improving the rate of resource productivity faster than the economic growth rate—is also a consistent guide. By evolving with the growing number of applications of circular economy principles, and consolidating these strategies across thematic areas, Circle Economy’s Key Elements Framework (KE) renders the elements of the circular economy salient and serves as a basis to derive contextual strategies and interventions. 


The Framework consists of:
- Core Elements: Activities directly handling product or material flows; and uniquely,
- Enabling Elements: those that remove obstacles for core actors.


Key elements of the circular economy

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Circle Economy's framework of strategies and activities that define the circular economy

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Based on the work of [Bocken et al. (2016)](https://www.researchgate.net/publication/309699661_Product_design_and_business_model_strategies_for_a_circular_economy), the Four Flows Framework serves as a simple framework for managing resource flows in a circular economy by using less (Narrow), using for longer (Slow), using again (Cycle), and using clean, regenerative materials and energy (Regenerate).

These different principles of circular economy can be applied to our socioeconomic metabolism: we can design stocks like buildings, infrastructure, machinery, and vehicles to be rich resource mines for the future, and design manufactured goods and consumables to be cycled and made regenerative. Furthermore, the focus must also centre on getting more value out of fewer materials. Achieving the aims of a circular economy—minimising material use, regenerating the Earth, and preventing material losses—can be done through these four key strategies mentioned above.

Source: Circle Economy. (2023). *[The circularity gap report 2023](https://www.circularity-gap.world/2023)* (p.22). Amsterdam: Circle Economy. 

Four Flows Framework

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 We firmly believe there is a future where sustainability and plastics go together hand-in-hand. And through our continued focus and great partnerships we aim to continue developing innovations that exceed our customer’s expectations and reduce our impact on the environment.And as a company that’s just a stones throw away from the UNESCO World Heritage Wadden Sea, we’ve very aware of our environmental footprint. It’s part of the reason why we’re continually trying to reduce our carbon output, and aiming to be a climate neutral company.Aside from our own green initiatives we also believe in fostering a strong sustainable culture by contributing to several industry wide initiatives. As Flexoplast we’re proud to be a part of the following initiatives: 

Bangladesh

Pābna

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The first RMG factory in Bangladesh to be honored with LEED platinum in recognition of her green revolution, and the pioneer of tech-savvy manufacturing, Vintage Denim Studio Ltd has emerged as an icon on the global apparel landscape by any parameter. Part of ABA Group. 

Vintage Denim Studio

<p>Sitting on a 10-acre plot in the Export Processing Zone in Ishwardi, Pabna, Vintage Denim Studio, part of ABA Group, is leading the way on how to save the environment while running a factory, ensure a safe workplace and reduce consumption of natural resources as much as possible, such as water, and bring down power usage as well as carbon emission.</p>