Integrating the green economy, circular economy and bioeconomy in a strategic sustainability framework

D. D'Amato and J. Korhonen

Ecological Economics, 2021, vol. 188, issue C

Abstract: The green economy, circular economy and bioeconomy are popular narratives in macro-level sustainability discussions in policy, scientific research and business. These three narratives offer three different recipes to address economic, social and ecological goals, thus promoting different pathways for sustainability transformations. We employ the well-known Framework for Strategic Sustainable Development (The Natural Step Framework) to comparatively identify the relative and integrated contribution of the three narratives for global net sustainability. We conclude that none of the three narratives, individually, offer a comprehensive ‘package’ of solutions. However, when considered jointly as collaborative narratives, they point towards a society and economy based on renewable/reproductive and biodiversity-based/benign processes, delivering material and immaterial benefits that fulfil the economic and social requirements of all people now and in the future. While the complementary understanding of the circular economy, bioeconomy and green economy provides important guidelines for sustainability transformations post-Covid-19, there is a need for more holistic, systems-wide and integrative research work on potentially competing or supplementary sustainability narratives. This type of work of clarification and synthesis is relevant to a wide range of scholars and professionals, since the conceptual understanding of sustainability narratives informs practical implementation through strategies, actions and monitoring tools, in public and private decision-making.

Keywords: Ecosystem services; Low carbon economy; Nature-positive economy; Sharing economy; Sustainability transitions; System thinking (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (42)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:188:y:2021:i:c:s0921800921002019

DOI: 10.1016/j.ecolecon.2021.107143

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