Businesses play a pivotal role in driving the transition to a circular economy. There are three fundamental ways in which companies can actively contribute to this transformation:Closed-Loop Recycling: Closed-loop recycling involves the continual reuse of materials such as glass, steel, and aluminum that can be recycled indefinitely. This approach stands in contrast to open-loop recycling, which acknowledges the quality degradation of materials with each recycling cycle. Companies like Dell and its partners have pioneered closed-loop supply chains, extending the life of materials like plastics. This approach not only reduces carbon emissions but also resonates with environmentally-conscious consumers.Servitization and Renting: Some companies have shifted from selling products to leasing or renting them, a practice known as servitization. For instance, Renault leases its electric car batteries, ensuring that they can be re-engineered or recycled when they reach the end of their life cycle. This practice reduces waste, fosters resource efficiency, and appeals to customers who value sustainability.Remanufacturing and Longevity: Instead of melting down unwanted products, remanufacturing allows for the refurbishment of goods, extending their lifespan and making them suitable for secondary markets with less advanced infrastructure. Caterpillar, a U.S. machinery company, has been remanufacturing its equipment since 1973, capitalizing on material savings and environmental benefits. Similarly, Renault recovers and remanufactures a significant portion of car parts, reducing costs for customers and minimizing environmental impact.