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Circular Economy: Ecosystem, Strategy, and Practice
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Author(s): Batani Raghavendra Rao (Jain University, India)and Manoj Melangadi (Kieran Ryan Chartered Accountant and Statutory Auditors, Ireland)
Copyright: 2024
Pages: 15
Source title:
Utilizing Technology for Sustainable Resource Management Solutions
Source Author(s)/Editor(s): Kuldeep Singh (School of Management, Gati Shakti Vishwavidyalaya, Vadodara, India), Richa Singh Dubey (Motilal Nehru National Institute of Technology Allahabad (MNNIT) Allahabad, India), Douglas W.S. Renwick (Nottingham Business School, Nottingham Trent University, UK)and Rohan Crichton (David D. Reh School of Business, Clarkson University, USA)
DOI: 10.4018/979-8-3693-2346-5.ch003
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Abstract
Sustainability is the way forward. Circular economy is an apparatus to achieve sustainable development. It is both appropriate and desirable to take stock of circular economy. The chapter dwells on the ecosystem of circular economy which comprises companies, government, general public, and society at large. A strong ecosystem of multiple actors who collaborate and complement each other's role is the key for the realization of circular economy. The destructive and ravaging linear economy must be eliminated. The sustainable alternate is circular economy. Resource management strategy is the core of circular economy. Reduce, reuse, and recycle are the tenets of circular economy. The portfolio of restorative and regenerative resource management strategies are discussed. Flawless execution of the strategy is the key. The best and inclusive practices authenticate and endorse the execution and implementation of circular economy. The global and Indian practices of circular economy are deliberated.
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