Scope of Circular Economy

Aug 6, 2021 - 21:44
Aug 6, 2021 - 21:45
Scope of Circular Economy

The circular economy can cover a broad scope. Researchers have focused on different areas such as industrial applications with both product-oriented, natural resources and services, practice and policies to better understand the limitations that the CE currently faces.

strategic management for details of the circular economy and different outcomes such as potential re-use applications and waste management.

The circular economy includes products, infrastructure, equipment and services, and applies to every industry sector. It includes 'technical' resources (metals, minerals, fossil resources) and 'biological' resources (food, fibres, timber, etc.).

Most schools of thought advocate a shift from fossil fuels to the use of renewable energy and emphasize the role of diversity as a characteristic of resilient and sustainable systems.

The circular economy includes a discussion of the role of money and finance as part of the wider debate, and some of its pioneers have called for a revamp of economic performance measurement tools.

One study points out how modularisation could become a cornerstone to enable a circular economy and enhance the sustainability of energy infrastructure.

One example of a circular economy model is the implementation of renting models in traditional ownership areas (e.g. electronics, clothes, furniture, transportation).

Through renting the same product to several clients, manufacturers can increase revenues per unit, thus decreasing the need to produce more to increase revenues. Recycling initiatives are often described as a circular economies and are likely to be the most widespread models.

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