Enhancing Sustainability Measures Through Policy Incentives for a Better Circular Economy of Construction Waste

Joseph Falzon, Ryan Micallef and Rebecca Emily Dalli Gonzi

International Journal of Finance, Insurance and Risk Management, 2023, vol. 13, issue 3, 3-13

Abstract: Purpose: Since there is a shortage of land in Malta due to the island's small size, effective land management is essential, especially in connection to waste practices given that the building industry is expanding and producing tons of waste every day. Several Waste Management plans have been established and made mandatory in the country in order to help the nation meet more of the goals outlined by the European Commission. In order to help the sector meet its goals, the European Commission (EC) has established the Waste Framework Directive for all of its Member States, which mandates that by 2020, each Member State must have at least 70% of non-hazardous construction and demolition waste (C&D) for the recovery of the said waste stream and as classified under Chapter 17 of the European Waste Catalogue. Despite the fact that less waste is being disposed of in designated landfills and more C&D waste is being used as backfill in abandoned quarries, urgent waste management is still necessary. Solutions to aid the growing construction sector in becoming greener and moving toward a more circular economy are required. Design/Methodology/Approach: To have a systematic grasp of the phenomenon under inquiry, qualitative data was gathered. Researchers conducted semi-structured interviews to elicit important informants' perspectives on the subject matter, from an institutional standpoint. Findings: Findings demonstrated that local architects are using innovative methods such as the substitution of glass for cement and sand, in concrete mixes, despite eliciting concerns about cleanliness and color. Further studies revealed how architects are leading in reconstituted stone techniques, and that reconstituted stone is now enhancing sustainability practices through better circular economy of construction waste, following the acquisition of a patent for its production. Practical applications/originality: The study supports the contention that in order to implement incentives for recycling construction processes, authorities must push for the preservation of existing structures as a resource for permit processing; reduced permit fees provided that the existing structures are included and integrated into the proposed development; and the imposition of an environmental tax in addition to the current price of the naturally extracted material in an effort to deter developers and contractors.

Keywords: Sustainability; Economy; Policy Incentives; Construction Waste; Circular Economy (search for similar items in EconPapers)
JEL-codes: Q51 Q53 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ers:ijfirm:v:13:y:2023:i:3:p:3-13

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