On the Path to Sustainability in Gulf Cooperation Council States: Readiness for Energy Transition

Aleksandra Minić and Sanja Filipović

The European Journal of Applied Economics, 2024, vol. 21, issue 1, 143-163

Abstract: Whilst stakeholders and policymakers in industry and academia increasingly use circular and sustainable, the terms are not clearly understood. Furthermore, the need for a switch from a current economic model (linear) to a circular one has been recognized globally by the major decision-makers. The shift from one mechanism to another experiences challenges in grasping the Circular Economy (CE) and Sustainability (S) principles: defining them, understanding the similarities and differences, and successfully applying them using the Triple Bottom Line (TBL) approach. Employing a systematic literature review, the paper aims to clarify the ambiguities and add to clarity by exploring the concepts and the relationship of CE and S by applying the TBL framework – social, environmental and economic variables. The gaps regarding relations to people and profit contribution are identified in the literature, and future research priorities and new frameworks are recommended. Finally, the objective is to ascertain whether a strategic approach to sustainability and measures are in place in the Gulf Cooperation Council (GCC), such as increased investment in renewable energy infrastructure that could positively affect energy transition readiness, evidenced by energy efficiency indicators (reduced carbon emissions). Hence, three GCC countries were selected, their goals, and challenges were explored, and further research was recommended.

Keywords: circular economy; sustainability; triple bottom line; people planet profit; GCC (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://journal.singidunum.ac.rs/files/2024-21-1/o ... nergy-transition.pdf (application/pdf)
https://journal.singidunum.ac.rs/paper/on-the-path ... or-energy-transition (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sng:ejae01:208

DOI: 10.5937/EJAE21-49448

Access Statistics for this article

More articles in The European Journal of Applied Economics from Singidunum University, Belgrade
Bibliographic data for series maintained by EJAE Editorial Office ().