IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v16y2023i4p1779-d1064497.html
   My bibliography  Save this article

An Analysis of Circular Economy Literature at the Macro Level, with a Particular Focus on Energy Markets

Author

Listed:
  • Arezoo Ghazanfari

    (School of Economics, Finance and Marketing, RMIT University, Melbourne, VIC 3000, Australia)

Abstract

Sustainability is a strategic approach to develop a more sustainable economy to support the environment and socio-economic development. Literature on sustainability has been concerned mainly with global warming and environmental degradation issues, whereas the Circular Economy (CE) concept has recently been suggested as an alternative solution to support market sustainability and deal with both environmental and socio-economic challenges. In order to tackle these challenges, countries must switch from linear economies that follow the “take-make-dispose” principle to circular and sustainable economies. This study applies a structural and conceptual literature review to elucidate the most decisive determinants in the formation of circular strategies, particularly in the context of the energy sector. This study examines obstacles that hinder CE adoption and formulates drivers and measures to overcome them. The strategic literature review shows that the circular approach is critical in achieving sustainable development. Circularity can be considered a novel and innovative approach to alleviating the contradiction between rapid economic growth and energy and raw materials shortages. The CE structure must be considered as a sustainable foundation to enhance economic growth by avoiding waste, preserving natural capital, managing resource scarcity, recycling materials, maximizing energy efficiency, and recirculating them into the economy. Analysis reveals that the circular system is a key pillar of sustainability, security, and efficiency in the energy sector. The sustainable energy transition requires incorporating the CE principles in the design process. It also revealed that both public and private sectors must move away from the linear paradigm towards circularity to achieve CE implementation.

Suggested Citation

  • Arezoo Ghazanfari, 2023. "An Analysis of Circular Economy Literature at the Macro Level, with a Particular Focus on Energy Markets," Energies, MDPI, vol. 16(4), pages 1-24, February.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:4:p:1779-:d:1064497
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/16/4/1779/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/16/4/1779/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Vasileios Rizos & Arno Behrens & Wytze Van der Gaast & Erwin Hofman & Anastasia Ioannou & Terri Kafyeke & Alexandros Flamos & Roberto Rinaldi & Sotiris Papadelis & Martin Hirschnitz-Garbers & Corrado , 2016. "Implementation of Circular Economy Business Models by Small and Medium-Sized Enterprises (SMEs): Barriers and Enablers," Sustainability, MDPI, vol. 8(11), pages 1-18, November.
    2. Singh, Rajesh Kumar & Kumar, Anil & Garza-Reyes, Jose Arturo & de Sá, Marcelo M., 2020. "Managing operations for circular economy in the mining sector: An analysis of barriers intensity," Resources Policy, Elsevier, vol. 69(C).
    3. Kothari, Richa & Tyagi, V.V. & Pathak, Ashish, 2010. "Waste-to-energy: A way from renewable energy sources to sustainable development," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(9), pages 3164-3170, December.
    4. Khalil, Munawar & Berawi, Mohammed Ali & Heryanto, Rudi & Rizalie, Akhmad, 2019. "Waste to energy technology: The potential of sustainable biogas production from animal waste in Indonesia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 105(C), pages 323-331.
    5. Bertha Maya Sopha & Dwi Megah Purnamasari & Sholeh Ma’mun, 2022. "Barriers and Enablers of Circular Economy Implementation for Electric-Vehicle Batteries: From Systematic Literature Review to Conceptual Framework," Sustainability, MDPI, vol. 14(10), pages 1-23, May.
    6. Andreza de Aguiar Hugo & Jeniffer de Nadae & Renato da Silva Lima, 2021. "Can Fashion Be Circular? A Literature Review on Circular Economy Barriers, Drivers, and Practices in the Fashion Industry’s Productive Chain," Sustainability, MDPI, vol. 13(21), pages 1-17, November.
    7. Rannveig Edda Hjaltadóttir & Paula Hild, 2021. "Circular Economy in the building industry European policy and local practices," European Planning Studies, Taylor & Francis Journals, vol. 29(12), pages 2226-2251, December.
    8. Luthra, Sunil & Mangla, Sachin Kumar & Sarkis, Joseph & Tseng, Ming-Lang, 2022. "Resources melioration and the circular economy: Sustainability potentials for mineral, mining and extraction sector in emerging economies," Resources Policy, Elsevier, vol. 77(C).
    9. Hinrika Droege & Andrea Raggi & Tomás B. Ramos, 2021. "Overcoming Current Challenges for Circular Economy Assessment Implementation in Public Sector Organisations," Sustainability, MDPI, vol. 13(3), pages 1-22, January.
    10. Catarina Lourenço-Lopes & Maria Fraga-Corral & Cecilia Jimenez-Lopez & Antia G. Pereira & Paula Garcia-Oliveira & Maria Carpena & Miguel A. Prieto & Jesus Simal-Gandara, 2020. "Metabolites from Macroalgae and Its Applications in the Cosmetic Industry: A Circular Economy Approach," Resources, MDPI, vol. 9(9), pages 1-30, August.
    11. Pasquale Marcello Falcone, 2019. "Tourism-Based Circular Economy in Salento (South Italy): A SWOT-ANP Analysis," Social Sciences, MDPI, vol. 8(7), pages 1-16, July.
    12. Qinglan Liu & Longjian Yang & Miying Yang, 2021. "Digitalisation for Water Sustainability: Barriers to Implementing Circular Economy in Smart Water Management," Sustainability, MDPI, vol. 13(21), pages 1-28, October.
    13. de Jesus, Ana & Mendonça, Sandro, 2018. "Lost in Transition? Drivers and Barriers in the Eco-innovation Road to the Circular Economy," Ecological Economics, Elsevier, vol. 145(C), pages 75-89.
    14. Ling Qin & Mengjun Wang & Jinfu Zhu & Yuhu Wei & Xintao Zhou & Zheng He & Shaohui Wang, 2021. "Towards Circular Economy through Waste to Biomass Energy in Madagascar," Complexity, Hindawi, vol. 2021, pages 1-10, June.
    15. Melissa Jackson & Aleta Lederwasch & Damien Giurco, 2014. "Transitions in Theory and Practice: Managing Metals in the Circular Economy," Resources, MDPI, vol. 3(3), pages 1-28, July.
    16. Maria Barreiro‐Gen & Rodrigo Lozano, 2020. "How circular is the circular economy? Analysing the implementation of circular economy in organisations," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3484-3494, December.
    17. Simona Fortunati & Laura Martiniello & Donato Morea, 2020. "The Strategic Role of the Corporate Social Responsibility and Circular Economy in the Cosmetic Industry," Sustainability, MDPI, vol. 12(12), pages 1-28, June.
    18. Stavros Ponis & Eleni Aretoulaki & Theodoros Nikolaos Maroutas & George Plakas & Konstantina Dimogiorgi, 2021. "A Systematic Literature Review on Additive Manufacturing in the Context of Circular Economy," Sustainability, MDPI, vol. 13(11), pages 1-28, May.
    19. Natacha Klein & Tomás B. Ramos & Pauline Deutz, 2020. "Circular Economy Practices and Strategies in Public Sector Organizations: An Integrative Review," Sustainability, MDPI, vol. 12(10), pages 1-24, May.
    20. Gedam, Vidyadhar V. & Raut, Rakesh D. & Lopes de Sousa Jabbour, Ana Beatriz & Agrawal, Nishant, 2021. "Moving the circular economy forward in the mining industry: Challenges to closed-loop in an emerging economy," Resources Policy, Elsevier, vol. 74(C).
    21. Korhonen, Jouni & Honkasalo, Antero & Seppälä, Jyri, 2018. "Circular Economy: The Concept and its Limitations," Ecological Economics, Elsevier, vol. 143(C), pages 37-46.
    22. Davide Aloini & Riccardo Dulmin & Valeria Mininno & Alessandro Stefanini & Pierluigi Zerbino, 2020. "Driving the Transition to a Circular Economic Model: A Systematic Review on Drivers and Critical Success Factors in Circular Economy," Sustainability, MDPI, vol. 12(24), pages 1-14, December.
    23. Yildizbasi, Abdullah, 2021. "Blockchain and renewable energy: Integration challenges in circular economy era," Renewable Energy, Elsevier, vol. 176(C), pages 183-197.
    24. Chiappetta Jabbour, Charbel Jose & De Camargo Fiorini, Paula & Wong, Christina W.Y. & Jugend, Daniel & Lopes De Sousa Jabbour, Ana Beatriz & Roman Pais Seles, Bruno Michel & Paula Pinheiro, Marco Anto, 2020. "First-mover firms in the transition towards the sharing economy in metallic natural resource-intensive industries: Implications for the circular economy and emerging industry 4.0 technologies," Resources Policy, Elsevier, vol. 66(C).
    25. Wang, Qiang & Zhou, Kan, 2017. "A framework for evaluating global national energy security," Applied Energy, Elsevier, vol. 188(C), pages 19-31.
    26. Beatriz de Souza Mello Gonçalves & Flávio Leonel de Carvalho & Paula de Camargo Fiorini, 2022. "Circular Economy and Financial Aspects: A Systematic Review of the Literature," Sustainability, MDPI, vol. 14(5), pages 1-41, March.
    27. Reynolds, Jemma & Kennedy, Robert & Ichapka, Mariah & Agarwal, Abhishek & Oke, Adekunle & Cox, Elsa & Edwards, Christine & Njuguna, James, 2022. "An evaluation of feedstocks for sustainable energy and circular economy practices in a small island community," Renewable and Sustainable Energy Reviews, Elsevier, vol. 161(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Katarína Čulková & Marcela Taušová & Peter Tauš & Eva Mihaliková, 2023. "Development of Energy Recovery from Waste in Slovakia Compared with the Worldwide Trend," Sustainability, MDPI, vol. 15(14), pages 1-17, July.
    2. Ana Alexandra Mocanu & Gabriel Brătucu & Eliza Ciobanu & Ioana Bianca Chițu & Anita Cornelia Szakal, 2024. "Can the Circular Economy Unlock Sustainable Business Growth? Insights from Qualitative Research with Specialists in Romania," Sustainability, MDPI, vol. 16(5), pages 1-28, February.
    3. Han Peng & Songyin Li & Linjian Shangguan & Yisa Fan & Hai Zhang, 2023. "Analysis of Wind Turbine Equipment Failure and Intelligent Operation and Maintenance Research," Sustainability, MDPI, vol. 15(10), pages 1-35, May.
    4. Kristia Kristia & Mohammad Fazle Rabbi, 2023. "Exploring the Synergy of Renewable Energy in the Circular Economy Framework: A Bibliometric Study," Sustainability, MDPI, vol. 15(17), pages 1-27, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jing Shao & Cedric Aneye & Alyona Kharitonova & Wei Fang, 2023. "Essential innovation capability of producer‐service enterprises towards circular business model: Motivators and barriers," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4548-4567, November.
    2. Moritz Böhmecke‐Schwafert & Marie Wehinger & Robin Teigland, 2022. "Blockchain for the circular economy: Theorizing blockchain's role in the transition to a circular economy through an empirical investigation," Business Strategy and the Environment, Wiley Blackwell, vol. 31(8), pages 3786-3801, December.
    3. Francesca Gennari, 2023. "The transition towards a circular economy. A framework for SMEs," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(4), pages 1423-1457, December.
    4. Yamoah, Fred A. & Sivarajah, Uthayasankar & Mahroof, Kamran & Peña, Iker González, 2022. "Demystifying corporate inertia towards transition to circular economy: A management frame of reference," International Journal of Production Economics, Elsevier, vol. 244(C).
    5. Natacha Klein & Tomás B. Ramos & Pauline Deutz, 2022. "Factors and strategies for circularity implementation in the public sector: An organisational change management approach for sustainability," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(3), pages 509-523, May.
    6. Chedrak Chembessi & Christophe Beaurain & Geneviève Cloutier, 2022. "Analyzing Technical and Organizational Changes in Circular Economy (CE) Implementation with a TOE Framework: Insights from a CE Project of Kamouraska (Quebec)," Circular Economy and Sustainability,, Springer.
    7. Omar Alhawari & Usama Awan & M. Khurrum S. Bhutta & M. Ali Ülkü, 2021. "Insights from Circular Economy Literature: A Review of Extant Definitions and Unravelling Paths to Future Research," Sustainability, MDPI, vol. 13(2), pages 1-22, January.
    8. Howard, Mickey & Böhm, Steffen & Eatherley, Dan, 2022. "Systems resilience and SME multilevel challenges: A place-based conceptualization of the circular economy," Journal of Business Research, Elsevier, vol. 145(C), pages 757-768.
    9. Ángela Triguero & María C. Cuerva & Francisco J. Sáez‐Martínez, 2022. "Closing the loop through eco‐innovation by European firms: Circular economy for sustainable development," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2337-2350, July.
    10. Nallapaneni Manoj Kumar & Shauhrat S. Chopra, 2022. "Leveraging Blockchain and Smart Contract Technologies to Overcome Circular Economy Implementation Challenges," Sustainability, MDPI, vol. 14(15), pages 1-18, August.
    11. Gilbert Silvius & Aydan Ismayilova & Vicente Sales-Vivó & Micol Costi, 2021. "Exploring Barriers for Circularity in the EU Furniture Industry," Sustainability, MDPI, vol. 13(19), pages 1-25, October.
    12. Hinrika Droege & Andrea Raggi & Tomás B. Ramos, 2021. "Overcoming Current Challenges for Circular Economy Assessment Implementation in Public Sector Organisations," Sustainability, MDPI, vol. 13(3), pages 1-22, January.
    13. Mathivathanan, Deepak & Mathiyazhagan, K. & Khorana, Sangeeta & Rana, Nripendra P. & Arora, Bimal, 2022. "Drivers of circular economy for small and medium enterprises: Case study on the Indian state of Tamil Nadu," Journal of Business Research, Elsevier, vol. 149(C), pages 997-1015.
    14. Ana de Jesus & Minna Lammi & Teresa Domenech & Fedra Vanhuyse & Sandro Mendonça, 2021. "Eco-Innovation Diversity in a Circular Economy: Towards Circular Innovation Studies," Sustainability, MDPI, vol. 13(19), pages 1-22, October.
    15. Dwivedi, Ashish & Moktadir, Md. Abdul & Chiappetta Jabbour, Charbel José & de Carvalho, Daniel Estima, 2022. "Integrating the circular economy and industry 4.0 for sustainable development: Implications for responsible footwear production in a big data-driven world," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    16. Nesrin Ada & Yigit Kazancoglu & Muruvvet Deniz Sezer & Cigdem Ede-Senturk & Idil Ozer & Mangey Ram, 2021. "Analyzing Barriers of Circular Food Supply Chains and Proposing Industry 4.0 Solutions," Sustainability, MDPI, vol. 13(12), pages 1-29, June.
    17. Davide Aloini & Riccardo Dulmin & Valeria Mininno & Alessandro Stefanini & Pierluigi Zerbino, 2020. "Driving the Transition to a Circular Economic Model: A Systematic Review on Drivers and Critical Success Factors in Circular Economy," Sustainability, MDPI, vol. 12(24), pages 1-14, December.
    18. Garrido-Prada, Pablo & Lenihan, Helena & Doran, Justin & Rammer, Christian & Perez-Alaniz, Mauricio, 2021. "Driving the circular economy through public environmental and energy R&D: Evidence from SMEs in the European Union," Ecological Economics, Elsevier, vol. 182(C).
    19. Luthra, Sunil & Mangla, Sachin Kumar & Sarkis, Joseph & Tseng, Ming-Lang, 2022. "Resources melioration and the circular economy: Sustainability potentials for mineral, mining and extraction sector in emerging economies," Resources Policy, Elsevier, vol. 77(C).
    20. Augusto Bianchini & Jessica Rossi & Marco Pellegrini, 2019. "Overcoming the Main Barriers of Circular Economy Implementation through a New Visualization Tool for Circular Business Models," Sustainability, MDPI, vol. 11(23), pages 1-33, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:16:y:2023:i:4:p:1779-:d:1064497. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.