Title: Analysing the constraints of circular economy models and policy challenges in waste management

Authors: Pradyot Ranjan Jena

Addresses: School of Humanities Social Sciences and Management, National Institute of Technology Karnataka, Mangalore-575025, India

Abstract: The exponential growth in the production of goods in the last few decades has raised concerns about ecological degradation. The current design of the linear structure of the industries would create an uneven balance between natural resources and technological advances. There has been a surge of research regarding a paradigm-altering structure to industries that is known as - circular economy (CE). The CE structure aims to convert the 'take-make-dispose' pattern of production and consumption. However, there is less understanding regarding its specific components. This paper reviews the results of the existing studies on CE and proposes solutions. The analysis is based on three thematic areas such as challenges in implementing CE models, public policy on CE, and the limitations of CE models. The major challenges for CE models stem from a lack of precise information on the costs, benefits, and technical knowledge of the circular use of resources.

Keywords: circular economy; CE; waste management; public policy; market failure; asymmetric information.

DOI: 10.1504/IJESD.2024.137835

International Journal of Environment and Sustainable Development, 2024 Vol.23 No.2/3, pp.293 - 311

Received: 15 Jan 2022
Accepted: 13 Feb 2023
Published online: 05 Apr 2024 *

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