Circular Economy: Contested Definitions and an Evolving Concept

Roelof Vogel (), Tharaka de Vass (), Glen Croy () and Amrik Sohal ()
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Roelof Vogel: Monash University
Tharaka de Vass: Monash University
Glen Croy: Monash University
Amrik Sohal: Monash University

A chapter in Circular Economy in Sustainable Supply Chains, 2024, pp 181-199 from Springer

Abstract: Abstract The economy needs to systematically change to decouple from extraction of finite resources and inherent generation of waste. To achieve this, a conceptual understanding of the circular economy (CE) is crucial. However, what CE is, is still contested. There are two definitional streams: the first stream arguing that CE can contribute to and achieve all three sustainability pillars, contrasting with the second stream, which restrains the contribution to resource efficiency and effectiveness. All the same, these definitions have a consistent CE conceptualisation. The CE conceptual frames include Earth’s finite resources and absorptive capacity, value creation and peak value, regenerative systems and design, closed-loop systems, biological and technological material flows, and value capture and re-creation. The CE concept evolved through three phases. The first phase focused on dealing with waste, the second on working backwards through supply chains, stimulating waste reduction opportunities, and the third on emphasising material, component and product value retention. Of note, CE practices vary, reflecting the evident conceptual evolution. That is, while some are focused on waste management, others are implementing policies and practices advancing the current conceptual understanding of CE. For supply chains, this understanding emphasises adopting practices or reactively responding to accelerating CE regulatory changes.

Keywords: Circular economy; Resource efficiency and effectiveness; Transition phases; Circular economy policy; Hegemony (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-3-031-70749-0_16

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