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Review of challenges to transition towards circular economy

Author

Listed:
  • Olga Lingaitienė

    (Vilnius Gediminas Technical University (VILNIUS TECH), Lithuania)

  • Aurelija Burinskienė

    (Vilnius Gediminas Technical University (VILNIUS TECH), Lithuania)

  • Valentas Gružauskas

    (Vilnius Gediminas Technical University (VILNIUS TECH), Lithuania)

Abstract

The growing volume of waste worldwide is driving us to search for solutions to recycle waste and reduce material consumption. It is necessary to create models that stop the deterioration of the environmental condition and offer a transition to a more efficient economic system where resources are less intensively used. The EU needs to ensure the transition to a sustainable circular economy (CE), which provides for waste recycling and preserves the value of natural resources, raw materials, and goods produced in the market for as long as possible. A more efficient economic system would contribute significantly to the United Nations (UN) Sustainable Development (SD) Agenda targeted until 2030. This topic has still to be addressed in the literature, so we aim to reduce the research gaps in the publications with this article. The authors selected and analysed the variables that mainly influenced waste recycling, which is part of CE processes. The paper assessed the relationship between resource productivity and waste recycling variables; a Vector Error Correction Model was used. The results allowed us to provide novel insights concerning CE challenges.

Suggested Citation

  • Olga Lingaitienė & Aurelija Burinskienė & Valentas Gružauskas, 2024. "Review of challenges to transition towards circular economy," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 11(3), pages 423-436, March.
    • Handle: RePEc:ssi:jouesi:v:11:y:2024:i:3:p:423-436
    DOI: 10.9770/jesi.2024.11.3(29)
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    References listed on IDEAS

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    1. Jin Xijie & Gwang-Nam Rim & Chol-Ju An, 2023. "Some Methodological Issues in Assessing the Efforts for the Circular Economy by Region or Country," SAGE Open, , vol. 13(3), pages 21582440231, July.
    2. Massimiliano Borrello & Francesco Caracciolo & Alessia Lombardi & Stefano Pascucci & Luigi Cembalo, 2017. "Consumers’ Perspective on Circular Economy Strategy for Reducing Food Waste," Sustainability, MDPI, vol. 9(1), pages 1-18, January.
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    More about this item

    Keywords

    circular economy; waste recycle; reduce; consuption; business process;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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