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China-EU agreement paves way for global adoption of circular economy

China and the EU have signed a joint Memorandum of Understanding on Circular Economy Cooperation at the 20th EU-China Summit taking place in the Chinese capital on 16th-17th July.

Transition to a circular economy in the world’s two largest economies could accelerate adoption of circular economy practices at a global scale, creating potential for a ‘system shift’ towards a low carbon, regenerative economy.

New analysis from the Ellen MacArthur Foundation finds that transition to a circular economy in China’s cities could make goods and services more affordable for citizens, and reduce impacts normally associated with middle class lifestyles, such as traffic congestion and air pollution. Earlier research found that Europe could, by 2030, add €0.9 trillion to its GDP by moving to a circular economy, while halving its CO2 emissions.

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