The European Commission adopted an ambitious new Circular Economy package in December to stimulate European 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 GHG emissions. The proposals cover the full lifecycle: from production and consumption to waste management and the market for secondary raw materials. This transition will be supported financially by ESIF (European Structural and Investment Fund) funding, 650 million euros from Horizon 2020 (the EU funding programme for research and innovation), 5.5 billion euros from structural funds for waste management, and investments in the circular economy at national level.
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