Abstract
Circular economy is seen as economy's development direction expected to lead to a more sustainable development and a harmonious society. It covers at least five different business models, one of which is resource recovery, tackling benefits of industrial symbiosis. In order to achieve a circular economy, there must be a greater understanding of the links between economic activity and waste generation. A consensus exists on the vital role of waste and resource management in achieving transition from a linear model to a circular one where the value of materials and resources are maintained in the supply chain Waste systematically emerges throughout the supply chain as a result of economic activities and trade. Systemic and transformative change is also reflected in the growing number of case studies analysing innovative solutions based on new systemic thinking like "cradle to cradle" and "industrial symbiosis". The aim of the research is to analyse existing Circular economy strategies in the European Union, in order to identify main priority areas and objectives. The Authors have also assessed that the three Baltic States currently have not developed circular economy strategies, but nevertheless the authors were able to gather and analyse a range of examples of circular economy companies. In order to achieve this, following methodology has been applied by the authors: critical analysis, case studies, synthesis and comparative analysis. As a result of the research, the authors identify best practices, impact of the municipalities, allowing to identify further necessary steps for the transition to circular economy.
Original language | English |
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Title of host publication | NEW CHALLENGES OF ECONOMIC AND BUSINESS DEVELOPMENT - 2019: INCENTIVES FOR SUSTAINABLE ECONOMIC GROWTH |
Subtitle of host publication | PROCEEDINGS |
Publisher | University of Latvia |
Pages | 171-181 |
ISBN (Print) | 978-9934-18-428-4 |
Publication status | Published - 2019 |
Externally published | Yes |
Event | 11th international scientific conference "New Challenges of Economic and Business Development – 2019: Incentives for Sustainable Economic Growth" - Riga, Latvia Duration: 16 May 2019 → 18 May 2019 Conference number: 11 https://www.bvef.lu.lv/en/conf/previous-conferences/2019-incentives-for-sustainable-economic-growth/ |
Conference
Conference | 11th international scientific conference "New Challenges of Economic and Business Development – 2019: Incentives for Sustainable Economic Growth" |
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Country/Territory | Latvia |
City | Riga |
Period | 16/05/19 → 18/05/19 |
Other | The 11th international scientific conference "New Challenges of Economic and Business Development – 2019: Incentives for Sustainable Economic Growth" organized by the Faculty of Business, Management and Economics (University of Latvia) will take place in Riga (Latvia) between the 16th and 18th of May, 2019. |
Internet address |
Keywords*
- business models
- circular economy
- sustainable development
- waste management
Field of Science*
- 5.2 Economy and Business
Publication Type*
- 3.1. Articles or chapters in proceedings/scientific books indexed in Web of Science and/or Scopus database