An economic model focused on sharing or providing access to underutilised goods and services, generally facilitated through online platforms.
[noun]
An economic model focused on sharing or providing access to underutilised goods and services, generally facilitated through online platforms. It is a flexible peer-to-peer network that can be used to combat overconsumption, resource and material waste, and the perception of ownership; instead encouraging community engagement and sustainability.
e.g. The new report published by the Ellen MacArthur Foundation cites a sharing economy as a possible solution to sustainability issues in the fashion industry because it can reduce overproduction through utilising existing materials.
From ECONYL® Blog
Post-consumer Material
Post-consumer material is waste generated once a product has reached the end of its intended use.
Upcycling is the process of transforming waste materials, by-products, or unwanted products into new items of higher value, quality, or environmental benefit.
