Closing the Loop for Resource Efficiency, Sustainable Consumption and Production: A Critical Review of the Circular Economy

(2018) International Journal of Sustainable Development

22 Pages Posted: 20 Feb 2018

See all articles by Mark Camilleri

Mark Camilleri

University of Malta; University of Edinburgh

Date Written: 2018

Abstract

The circular economy proposition is not a novel concept. However, it has recently stimulated sustainable consumption and production ideas on remanufacturing, refurbishing and recycling of materials. A thorough literature review suggests that the circular economy’s regenerative systems are intended to minimise industrial waste, emissions, and energy leakages through the creation of long-lasting designs that improve resource efficiencies. In this light, this research critically analyses the circular economy’s closed loop systems. The findings suggest that this sustainable development model could unleash a new wave of operational improvements and enhanced productivity levels through waste management and the responsible use and reuse of materials in business and industry. In conclusion, this research implies that closed loop and product service systems could result in significant efficiencies in sustainable consumption and production of resources.

Keywords: Circular Economy, Resource Efficiency, Corporate Sustainability, Creating Shared Value, Corporate Social Responsibility, Strategic CSR, Stakeholder Engagement, Social Responsibility, Recycling Resources, Reusing Resources, Restoring Resources, Reducing Resources

JEL Classification: M0, M1, M10, M11, M14, M16, M30, M31, Q0, Q2, Q4, Q5, L1, L5, L6

Suggested Citation

Camilleri, Mark, Closing the Loop for Resource Efficiency, Sustainable Consumption and Production: A Critical Review of the Circular Economy (2018). (2018) International Journal of Sustainable Development. Available at SSRN: https://ssrn.com/abstract=3119575

Mark Camilleri (Contact Author)

University of Malta ( email )

Msida MSD 2080
Msida MSD 06
Malta

HOME PAGE: http://https://www.um.edu.mt/profile/markacamilleri

University of Edinburgh

27 Buccheluech Place,
The Business School
Edinburgh, Scotland EH8 9JS
United Kingdom

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