The linear economic model (“take-make-dispose”) has intensified the climate crisis and waste generation, driven by increasing consumption and designs that ignore end-of-life considerations. In the face of this, the circular economy is emerging as a transformative paradigm that prioritises eliminating waste by design, maintaining products and materials at their maximum utility, and regenerating natural systems. Foundational concepts such as the closed systems vision, technical-biological cycles, and ecological-social limits underscore the need to transition towards regenerative models. Leading companies demonstrate their viability through strategies such as furniture refurbishment, repair/buyback programmes, and service (rather than sales) models. This generates key economic benefits: cost reduction through material efficiency, business model innovation, resilience to resource scarcity, and significant emissions reductions. The transition faces barriers such as fragmented regulations, complex supply chains, and linear consumption habits, but is driven by critical enablers, including digital technologies (IoT, AI), supportive policies (e.g. the right to repair), and multisector collaboration. Their accelerated adoption is crucial for achieving global climate goals and building inclusive, resilient economies.