The circular economy is an economic concept which interacts with environmental sustainability and aims to ensure that the value of products, materials and resources (water, energy, etc.) stays in the economy for as long as possible, reducing waste generation to the absolute minimum.
The European Commission has set all regions the challenge of applying Smart Specialisation (RIS3) strategies as a means of concentrating human and financial resources in more competitive areas. In the Basque Country, where companies have a structure in which materials account for a very high percentage of costs (approximately 60%), the circular economy is a key strategy for increasing competitiveness.
Moreover, within the framework of the COP25, which is currently being held in Madrid, it is important to mention the fact that the circular economy is viewed as an essential tool for climate action, since around 45% of climate change is due to factors linked to material consumption.
