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Opportunities Provided By Circular Economy For Firms

Author

Listed:
  • PICIU, Gabriela Cornelia

    (Centre for Financial and Monetary Research “Victor Slavescu”, N.I.E.R., Romanian Academy, Bucharest, Romania)

  • AILINCA, Alina Georgeta

    (Centre for Financial and Monetary Research “Victor Slavescu”, N.I.E.R., Romanian Academy, Bucharest, Romania)

Abstract

Today, though there are many projects at the international, regional and national level underlining the need to implement sustainable development; just a small number of them find the best manner to put this concept into practice. Thus, the implementation of sustainable development concepts can be made through circular economy. Therefore the paper presents the necessity to move from a linear model to the circular model, then a few methods of transition to circular model from linear production model. The new model of circular economy considers that the companies need to create more value by reducing the dependence on the limited resources. Taking into account the above, the paper emphasizes the importance of reconsidering the best use of resources at a time when the major risks are threatening the welfare and prosperity. Also, the indicators analysed by Europe 2020 strategy (including Program 20-20-20), highlights the importance of the switching to a different type of economy, the circular economy. Thus, this article highlights the benefits of circular economy, from the social and environmental perspectives.

Suggested Citation

  • PICIU, Gabriela Cornelia & AILINCA, Alina Georgeta, 2016. "Opportunities Provided By Circular Economy For Firms," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 3(1), pages 219-225, October.
    • Handle: RePEc:vls:rojfme:v:3:y:2016:i:1:p:219-225
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    More about this item

    Keywords

    circular economy; methods of transition; benefits of clean production;
    All these keywords.

    JEL classification:

    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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