Transitioning to a Circular Economy: A Systematic Review of Its Drivers and Barriers

Jovan Tan, Fabien Jianwei Tan and Seeram Ramakrishna
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Jovan Tan: Center for Nanotechnology and Sustainability, Department of Mechanical Engineering, National University of Singapore, Singapore 117575, Singapore
Fabien Jianwei Tan: Lee Kong Chian School of Business, Singapore Management University, Singapore 178899, Singapore
Seeram Ramakrishna: Center for Nanotechnology and Sustainability, Department of Mechanical Engineering, National University of Singapore, Singapore 117575, Singapore

Sustainability, 2022, vol. 14, issue 3, 1-13

Abstract: Advancing societal’s progress to achieve circularity is imperative as our linear (take, make, waste) economic model is highly unsustainable. It depletes our natural resources and substantially contributes to pollution and global greenhouse gas emissions. Our continued participation in the linear economy will also expose businesses to volatile resource prices and supply disruptions resulting from the scarcity of critical materials and geopolitical factors. Hence, there are compelling reasons for businesses to transit and participate in the circular economy. However, anecdotal evidence suggests limited practical implementations. Therefore, this systematic review aims to determine the most significant drivers and barriers that influence business leaders to transform their businesses for participation in the circular economy. By clarifying the most influential factors and their characteristics, we can introduce effective measures to encourage or mitigate them. This review takes a transdisciplinary approach to discuss salient and consequential ideas with depth and completeness. Its associated practical and managerial implications are also thoroughly discussed.

Keywords: circular economy; sustainable development; sustainability; drivers; barriers; review (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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