THE FUNDAMENTAL DRIVERS IN THE TRANSIT TO CIRCULAR ECONOMY

Dobrescu Mihaela Edith
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Dobrescu Mihaela Edith: INSTITUTE FOR WORLD ECONOMY, ROMANIAN ACADEMY

Annals - Economy Series, 2023, vol. 3, 144-147

Abstract: The circular economy is transformative, systemic and functional. Projections show that shifting from a linear approach of “take, make and dispose” to a circular system is estimated to have USD 4.5 trillion potential for economic growth by 2030. Major drivers for transitioning to a circular economy are environmental (climate change, 73%), institutional (global agendas, 52%) and socio-economic (changing economic conditions, 51%). Additionally, the circular transition is driven by job creation (47%), private sector initiatives (46%), new business models (43%), technical developments (43%) and research and development (R&D) (41%) (OECDE Survey, 2022). The paper aims is to description of these drivers and their role in the circular economy.

Keywords: agricultural technologies; paradigms; food crisis; environmental protection (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2023:v:3:p:144-147

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