Closed-loop economy
The closed loop model is a biomimetic (life-imitating) approach, which takes nature as an example and considers that systems should work like organisms, processing nutrients that can be fed back into the cycle—hence the terms 'closed loop' or 'regenerative' used to describe it. The closed-loop economy is also called the 'circular economy' and it is an industrial system that is restorative or regenerative by design. It replaces the ‘end-of-life’ concept with restoration, shifts towards the use of renewable energy, eliminates the use of toxic chemicals, and waste by improving the design of materials, products, systems and business models (Ellen MacArthur Foundation, 2016).
