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The Fundamental Drivers In The Transit To Circular Economy

Author

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  • DOBRESCU MIHAELA EDITH

    (INSTITUTE FOR WORLD ECONOMY, ROMANIAN ACADEMY)

Abstract

The circular economy is transformative, systemic and functional. Projections show that shifting from a linear approach of “take, make and dispose” to a circular system is estimated to have USD 4.5 trillion potential for economic growth by 2030. Major drivers for transitioning to a circular economy are environmental (climate change, 73%), institutional (global agendas, 52%) and socio-economic (changing economic conditions, 51%). Additionally, the circular transition is driven by job creation (47%), private sector initiatives (46%), new business models (43%), technical developments (43%) and research and development (R&D) (41%) (OECDE Survey, 2022). The paper aims is to description of these drivers and their role in the circular economy.

Suggested Citation

  • Dobrescu Mihaela Edith, 2023. "The Fundamental Drivers In The Transit To Circular Economy," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 144-147, June.
    • Handle: RePEc:cbu:jrnlec:y:2023:v:3:p:144-147
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