Financing sustainable market actors in the circular economy

This paper investigates how and whether circular economy (CE) business models affect the implementation of sustainable development goals (SDGs) in the waste management sector. A case study is used to determine the relationship between CE business models and SDGs. It shows that CE business models, potentially, can contribute directly to achieving a significant number of SDGs. The strongest relationships are between the CE business model and the targets of SDG4 (Quality education); SDG 5 (Gender equality); SDG 7 (Affordable and Clean Energy), SDG 8 (Decent working and economic growth); SDG 9 (Industry, innovation and infrastructure), SDG 11 (Sustainable cities and communities) SDG 12 (Responsible consumption and production). After a narrative literature review on the intersection between CE and SDGs, the paper performed a case study on Contarina SpA, a firm that developed a business model to recycle wastes into recyclable materials under a CE approach. The case findings could stimulate further research into how this and similar types of business models will help societies to change from the ‘use‐it‐once‐and‐throw‐it away’ mentality of linear business models to the integrated, holistic, CE model that seeks to emulate nature's cyclical systems, and achieve the implementation of sustainable development goals (SDGs).

The integration of sustainability in the circular economy is an emerging paradigm that can offer a long term vision to achieve environmental and social sustainability targets in line with the United Nation’s Sustainable Development Goals. Developing scalable and sustainable impacts in circular economy business models (CEBMs) has many challenges. While many advanced technology manufacturing firms start as small enterprises, remarkably little is known about how material reuse firms in sociotechnical systems transition towards circular business models. Research into CEBMs integrating sustainability and environmental conservation is still in its early stages. There has been increased interest in sustainability and circular economy research, but current research is fragmented. The innovation surrounding CEBMs eludes some firms with relatively limited evidence of the transitional perspective necessary to integrate aspects of sustainability. This lack of evidence is especially applicable to the context of circular economy practices in small and medium enterprises in the United States regarding capabilities, operations obstacles, and elements of success in designing circular business models. Based on a qualitative, interview-based inductive study of a material reuse firm, our research develops a conceptual model of the critical success factors and obstacles that are part of implementing circular economy practices. Firms must first manage strategic enablers and monitor tactical enablers to achieve sustainability goals. In this study, we identify the underlying enablers of how these capabilities affect the transition to a CEBM that integrates sustainability. The framework emerging from our findings highlights the interplay of CEBM, innovation success factors, and obstacles at a micro-level. The investigation of a material reuse firm serves as the foundation for developing a framework for how managers can alter a company and revise the business model to transition towards a more innovative circular economy.

Purpose The purpose of this study is to examine how skill development in Industry 4.0 can affect the Circular Economy (CE) business model, with the goal of ensuring that the CE business model maximises value co-creation to keep products and resources as reusable as possible. Design/methodology/approach The research design entails a qualitative study using a mixed-methods approach, which integrates bibliometric analysis. This study uses a mixed-methods approach, combining a systematic literature review, thematic analysis and semi-structured expert interviews. Its objective is to explore the skills necessary for organisations to harness Industry 4.0 and innovate sustainable CE models. Bibliometric analysis was used to identify publications and keywords in the field of CE and Industry 4.0. Thematic analysis was conducted to extract key concepts and themes from peer-reviewed articles. Subsequently, frameworks for Mapping Skills of Industry 4.0 and CE were proposed based on the key concepts and themes extracted from the thematic analysis. Findings This study’s findings close a knowledge gap at the nexus of skill development, Industry 4.0 and a sustainable CE. This study presents a conceptual framework based on the aforementioned connections that might assist organisations in realigning their management practices and strategies for future skill development related to CE’s business model deployment. This study identifies the need for “must-have” skills and “good-to-have” skills for the CE business model related to Industry 4.0. This study emphasises the importance of higher education institutions in redesigning curricula and educational approaches for building soft skills and technological abilities in accordance with the CE paradigm. The identification of “must-have” and “good-to-have” skills for CE business models related to Fourth Industrial Revolution technologies can inform organisations’ talent management strategies, employee training programs and skill development initiatives. Practical implications The research can inform policymakers and industry regulators in developing policies, guidelines and incentives that promote the adoption of 4IR technologies and CE principles while also addressing the associated skill development needs. Originality/value This study offers a novel and timely examination of the critical intersections between skill development for Industry 4.0 and the CE business models. The conceptual framework presented in this research provides a fresh perspective on optimising value co-creation within CE models by aligning human capital capabilities with the technological requirements. By identifying the “must-have” and “good-to-have” skills needed to support CE business models in the context of Industry 4.0, this study offers valuable insights to guide organisational talent management, employee training and educational curriculum redesign.

Morphology for circular economy business models in the electrical and electronic equipment sector of Singapore and South Korea: Findings, implications, and future agenda

To achieve sustainability objectives, the three subsystems of the environmental, social, and economic pillars must attain equifinality. However, in numerous instances, these subsystems fail to strike a balance, resulting in failure to realise sustainable outcomes. Therefore, transitioning to a circular economy through the adoption of appropriate business models could be a valuable approach for achieving equifinality and balancing the three pillars of sustainability. In the present study, three graphical conceptual images were produced. This study demonstrates the potential benefits of integrating sustainability principles into circular business practices. The graphical images presented in this chapter serve to visualise these connections and highlight the importance of considering sustainability in economic decision-making. The models demonstrate how businesses can contribute to social welfare by integrating sustainability and circular economic principles into economic decision-making. This research sheds light on the potential of circular and sustainable business practices to create value at both the micro and macro levels of the economy, offering a compelling case for the integration of sustainability into business models. This conceptual chapter explores the links between Sustainability and Circular Economy Business Models (CEBMs) through a series of theoretical and graphical presentations. This is one of the first attempts to develop a graphical analysis illustrating the connections within the concept of the circular economy. This endeavour aimed to create a conceptual framework without the need for empirical testing.

Switching from the current linear model of economy to a circular one has recently attracted increased attention from major global companies e.g., Google, Unilever, Renault, and policymakers attending the World Economic Forum. The reasons for this are the huge financial, social and environmental benefits. However, the global shift from one model of economy to another also concerns smaller companies on a micro-level. Thus, comprehensive knowledge on designing circular business models is needed to stimulate and foster implementation of the circular economy. Existing business models for the circular economy have limited transferability and there is no comprehensive framework supporting every kind of company in designing a circular business model. This study employs a literature review to identify and classify the circular economy characteristics according to a business model structure. The investigation in the eight sub-domains of research on circular business models was used to redefine the components of the business model canvas in the context of the circular economy. Two new components—the take-back system and adoption factors—have been identified, thereby leading to the conceptualization of an extended framework for the circular business model canvas. Additionally, the triple fit challenge has been recognized as an enabler of the transition towards a circular business model. Some directions for further research have been outlined, as well.

Circular economy business models and operations management

PurposeThe objectives of this research are to (1) fill the evidence gap of circular business activities and (2) enrich the knowledge base about the drivers of and barriers to circular economy business model (CEBM) that supports e-waste reduction in China’s mobile electronics industry. To answer the overarching research question of whether there are CEBMs emerging to address e-waste in China’ mobile electronics industry, we in this paper divided it into three sub-questions: (1) What CEBMs can support e-waste reduction? (2) Is there evidence for their implementation in China? and (3) What are the drivers of and barriers to these business model innovations?Design/methodology/approachWe started with setting the scene on the importance of better e-waste management and the scale of e-waste problem in China. Building on the oft-quoted ReSOLVE framework, developed by EMF (2015) and consolidated in Lewandowski (2016), we have refined from it 11 CEBMs to suit the context of e-waste reduction. These 11 models include regenerate, life cycle extension, take-back services, product sharing systems, optimise resource value, produce on demand, circular supplies, resource recovery, industrial symbiosis, product-as-a-service and transformative innovation. We have mapped these refined models against the evidence of circular business practices identified in the corporate sustainability reports of eight out of top 12 mobile electronics manufacturers in China.FindingsOur research findings show that six out of these 11 CEBMs are de facto practised in many of these companies. They include life cycle extension, collection services, optimise resource value, circular supplies, resource recovery and industrial symbiosis, although circular economy is still early-stage endeavours in the industry. As confirmed in our expert and company interviews, CEBM stems largely from profit and policy drivers. The key to building successful CEBMs to eliminate e-waste is, indeed, multi-stakeholder collaboration across the mobile electronics industry, which involves effective collection, reuse and recycling systems.Originality/valueThe lessons learnt can promote peer learning among EEE manufacturers and inform policymakers of effective strategies to create an enabling environment in which circular economy models can thrive.

This review paper examines how circular economy (CE) business models enable sustainable entrepreneurship in emerging markets, comparing their performance on resource efficiency and social impact. Synthesizing peer-reviewed research and practitioner frameworks, we analyze six archetypes product-as-a-service, product life extension, resource recovery, sharing platforms, circular inputs, and industrial symbiosis and assess how they conserve materials and energy while shaping livelihoods, equity, and well-being. We find that life-extension and industrial symbiosis consistently deliver strong material productivity gains, while product-as-a-service and sharing models achieve variable efficiency depending on design choices and rebound effects (Bocken et al., 2014; Geissdoerfer et al., 2017). Social outcomes hinge on inclusion and formalization: recycling and repair can create large numbers of jobs, yet may also concentrate health and safety risks when activity remains informal (UNEP, 2009; Murray et al., 2017). Enabling policies such as extended producer responsibility, quality standards for secondary materials, and social procurement amplify positive spillovers and mitigate trade-offs (Tura et al., 2019). We propose a comparative framework that aligns resource efficiency metrics (e.g., material circularity indicators, energy and water intensity) with social performance measures (e.g., job quality, income stability, and distributional effects) to guide entrepreneurs and investors. A synthesized table benchmarks archetypes across mechanisms, risks, and contexts, and a graph visualizes efficiency and social performance. The review concludes with design principles for inclusive, context-aware CE ventures and a research agenda on informality, gender, and just transition in low- and middle-income settings. These insights support founders and funders in scaling circular innovation both materially lean and socially fair and resilient.

Circular economy business models are key enablers of the circular economy. However, they must also be economically viable to materialize in reality, since profitability is a major business driver. Assessment of the economic potential of circular economy business model is subjected to significant uncertainties and to a range of risks, due to their novel nature. This chapter firstly discusses the economic assessment of the circular business models specifically for composites, based on five business model cases from various sectors, focusing on the identification of the major causes of uncertainty and then performing sampling-based sensitivity analysis to investigate the viability of the circular economy business models under uncertainty. The findings show that the proposed circular economy business models are not always more profitable than the existing models. Thus, in some instances new market stimulus would need to be identified and implemented to increase attractiveness of the proposed solutions. As a consequence, the chapter identifies and prioritizes risk factors for new circular economy business models for composites. The risk analysis uses input from industry experts and the literature to come up with a key risk factors list relevant to circular economy business models for composite materials. The risk analysis concludes that the key risk factors are both from the demand/market and supply side.

Energy management to foster circular economy business model for sustainable development in an agricultural SME

This chapter aims to synthesize some of the current issues of the circular economy and circular business models. Based on the international literature, the chapter highlights aspects such as the conceptual theoretical approaches of the circular economy and circular business models, interconnecting the principles of the circular economy, the difference between the linear and the circular economy, the circular economy and the sustainable development, the supply chain within the circular economy, possible business models of the circular economy, advantages and limitations in the successful implementation of the circular economy and supporting sustainability, other aspects of the circular economy and sustainability. The covered topics are based on the studies conducted by specialists and also present some author opinions on the sustainable development and circular economy. The chapter ends with the authors' conclusions on the impact of the circular economy and circular business models in the actual ecological context, launching possible future research topics for specialists.

The 7th International Conference on Technologies & Business Models for Circular Economy (TBMCE) was organized by the Faculty of Chemistry and Chemical Engineering, University of Maribor in collaboration with the Strategic Research and Innovation Partnership - Networks for the Transition into Circular Economy (SRIP- Circular Economy), managed by the Chamber of Commerce and Industry of Štajerska. The conference was held in Portorož, Slovenia, at the Grand Hotel Bernardin from September 4th to September 6th, 2024. EIT RawMaterials RIS Hub Adria, SPIRIT Slovenia Business Development Agency and Pomurje Technology Park (as part of the GREENE 4.0 and CI-Hub projects) have joined us as co-organizers. TBMCE 2024 was devoted to presentations of circular economy concepts, technologies and methodologies that contribute to the shift of business entities and society as a whole to a more responsible, circular management of resources. The conference program included panel discussions, plenary and keynote sessions, oral and poster presentations on the following topics: Sustainable Energy, Biomass and Alternative Raw Materials, Circular Business Models, Secondary Raw Materials and Functional Materials, ICT in Circular Economy, Processes and Technologies. Panel discussions addressed following topics: Circular Economy Transition in South East Europe, The transition to carbon neutrality in energy intensive industry, Valorization of used and contaminated wood, Circular economy trends in construction, Critical raw materials and circular economy transition, Industrial Symbiosis and its opportunities for industry, AI and circular economy. The event was under the patronage of Ministry of the Economy, Tourism and Sport and Ministry of Cohesion and Regional Development.

The 8th International Conference on Technologies & Business Models for Circular Economy (TBMCE) was organized by the Faculty of Chemistry and Chemical Engineering, University of Maribor in collaboration with the Strategic Research and Innovation Partnership - Networks for the Transition into Circular Economy (SRIP- Circular Economy), managed by the Chamber of Commerce and Industry of Štajerska. The conference was held in Portorož, Slovenia, at the Grand Hotel Bernardin from September 3rd to September 5th, 2025. EIT RawMaterials RIS Hub Adria, SPIRIT Slovenia Business Development Agency and Pomurje Technology Park (as part of the GREENE 4.0 and CI-Hub projects) have joined us as co-organizers. TBMCE 2025 was devoted to presentations of circular economy concepts, technologies and methodologies that contribute to the shift of business entities and society as a whole to a more responsible, circular management of resources. The conference program included panel discussions, plenary and keynote sessions, oral and poster presentations on the following topics: Sustainable Energy, Biomass and Alternative Raw Materials, Circular Business Models, Secondary Raw Materials and Functional Materials, ICT in Circular Economy, Processes and Technologies. Panel discussions addressed following topics: Circular Economy Transition in South East Europe, The transition to carbon neutrality in energy intensive industry, Valorization of used and contaminated wood, Circular economy trends in construction, Critical raw materials and circular economy transition, Industrial Symbiosis and its opportunities for industry, AI and circular economy. The event was under the patronage of Ministry of the Economy, Tourism and Sport and Ministry of Cohesion and Regional Development.

An account is presented of successfully implemented Extended Producer Responsibility (EPR) with recycling to high value products, to help overcome barriers and generate confidence in moving towards Circular Economy (CE) business models. A template for organisations proposing to recycle a thermoplastic is provided by describing appropriate tests and considerations in implementing the recovery and re-use of high impact polystyrene (HIPS) based on a practical, industry case. Simulating the repeated 100% closed loop reprocessing of production scrap, original HIPS has been injection molded to produce tensile and impact test pieces, reground and reprocessed eight times. Assessing the present results together with literature, repeated recycling of production scrap is possible without the need for a remedial compounding step, or changes to processing parameters. Integral to the EPR model is recovery of plastic from returned end-of-life (EoL) products, and in relation to the in-use environment, studies of the effects of UV exposure on virgin material show that significant property degradation can occur. However, with indoor use, as in the present case, this is not seen. Within the CE business model it is desirable to use blends of recovered HIPS originating from different original resin manufacturers. Feeding dry blend regrind directly to the molding machine proved satisfactory, avoiding the need for a compounding/pelletizing step. As an outcome of this study, products are being successfully manufactured from 100% HIPS recovered from EoL products in an environmentally and economically positive CE plan.