The circular economy refers to the concept of an economic system in which there is no waste. Materials are recycled, repurposed and reinvented to create new raw materials thereby reducing the need to extract new resources and thus saving money, energy and water resources.
Apparel giant Nike recently announced that 71% of its footwear now contains materials made from waste products from its own manufacturing processes. They call the waste material “Nike Grind,” and it is made from recycled sneakers, plastic bottles, and manufacturing scraps from Nike’s factories.
