Business Development Glossary

Circular Economy Model

Definition: A sustainable business model focused on reducing waste and maximizing resource use by designing for reuse, repair, refurbishment, and recycling.
Why It’s Relevant in the UAE: The UAE’s commitment to sustainability, highlighted by initiatives like UAE Vision 2021 and the hosting of COP28, has encouraged businesses to adopt environmentally conscious practices.
Examples in the UAE:
- Enviroserve: A Dubai-based electronics recycler specializing in sustainable e-waste management.
- The Green Ecostore: Promotes reusable and eco-friendly household products to reduce plastic waste.
- Carasti: Offers car subscriptions, promoting vehicle sharing and reducing environmental impact.
Key Benefits:
- Aligns with global sustainability goals and regulations.
- Attracts environmentally conscious consumers and investors.
- Drives innovation in product design and resource efficiency.