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Buildings are energy- and resource-hungry: their construction and use account for around 39% of global carbon dioxide emissions; they consume around 40% of all the energy produced; they are responsible for over 35% of the EU's total waste generation; and account for about 50% of all extracted (fossil) materials. Therefore, they present a significant challenge to meeting national and international Net Zero targets of reducing greenhouse emissions and fossil resource use. The CircularB Project, is at the heart of this issue, which will underpin synergies of multi-scale circular perspectives (from materials, to components, to assets and built environments), digital transformation solutions, data-driven and complexity science, stakeholder behavioral science, and interdisciplinary capabilities towards achievable, affordable and marketable circular solutions for both new and existing buildings, for sustainable urban design, and for circular built environments across Europe. This paper contributes to the project by deriving new insights into the stakeholders' influences, inter-relationships, and obstacles in the implementation of circular economy concepts on existing building stocks in Europe, which represent over 90% of whole building assets. In order to identify and derive the insights, our study is rigorously based on (i) a robust critical literature review of key documentations such as articles, standards, policy reports, strategic roadmaps and white papers; and (ii) interviews with relevant stakeholders and decision makers. Uniquely, our work spans across all scales of CE implementation from materials, to products and components, to existing building stocks, and to living built environments. The findings point out the current challenges and obstacles required to be tackled. Inadequacies of financial incentives and governmental enforcement (via policy, legislation, or directive) are commonly found to be the most critical obstacles found throughout Europe. Circular economy is the global challenge and not just a single country can resolve the climate issue without the cooperation of other countries. The insights thus highlight the essential need for harmonized actions and tactical/pragmatic policies promoted and regulated by the European Commission, national and local governments who can dominate the influence, promote inter-relationship, and overcome the barriers towards circular economy much more effectively. [ABSTRACT FROM AUTHOR]

It is a common perception that circular economy (CE) principles positively influence the servitisation strategy. The firms improve their productivity and resource/energy efficiency by engineering functional efficacy in a sustainable product. However, the managerial practices that support this distinctive business model (BM) are relatively sparse despite their liaisons. Therefore, this paper is focused on addressing this gap by investigating the managerial practices that firms can implement to explore the downstream opportunities of CE and servitisation BM. This paper uses a systematic literature review (SLR) approach to frame a theoretical model. The findings were improved by cross-validation using a text mining technique, demonstrating how organisations may co-create and extract value through CE and servitisation to develop a flexible management system. This study used the business model canvas antecedents to map a set of managerial practices to understand the mythography of the servitisation approach with CE principles. The findings show that identifying key stakeholders assists a firm in selecting an appropriate strategy based on sustainable value propositions that include cost structure and revenue streams to close the resource loop. Managerial commitment is critical in achieving the maximum economic, environmental, and societal potential. A few research agendas with distinct research orientations are proposed to mitigate the significant research gaps in CE and servitisation literature. This study provides managers and practitioners with some intriguing insights as it emphasises the need to select a suitable strategy to utilise a firm's resources successfully. [ABSTRACT FROM AUTHOR]

The construction business environment is becoming competitive and intense, and Business Models (BMs) are receiving considerable attention as potential sources of sustainable survival and growth. Converse to the Linear Economy (LE) model that industry follows, the Circular Economy (CE) model has the potential to create a sustainable construction industry while also creating a sustainable business environment in construction organisations. Nevertheless, in traditional BMs, value is often concentrated on the financial value for the stakeholders; in the Circular Economy Business Model (CEBM), value is seen more broadly by considering a comprehensive range of value chain partners, the environment, and society. Hence, implementing the CE in the construction industry requires reforms in each value chain. Thus, the aim of this paper is to develop a conceptual model for construction organisations' adoption of CEBM for their organisations. To accomplish this aim, the objectives of this paper are twofold: (i) to define the concept of CEBM and (ii) to map a conceptual Circular Economy Business Model Canvas (CEBMC) that is applicable in the construction organisational context. This research adopted a systematic document review, including a content analysis of selected papers. This study contributes significantly by proposing a CEBMC where construction organisations can successfully transform their businesses from linear to circular environments. [ABSTRACT FROM AUTHOR]

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Life cycle assessment (LCA) is the internationally adopted tool to assess environmental footprint. However, as highlighted by Billstein et al. [3] and Arushanyan [4] carrying out an LCA for ICT equipment is a challenging task due, to the amount of data that should be collected to achieve accurate results. This paper describes how documents such as full materials declarations can be used to solve this issue. Furthermore, the circular economy concept is introduced by analyzing alternative business models and the ITU-T L.1023 on circular economy scoring. Even if LCA was considered as a criterion in the L.1023 the link is not always straightforward between these two methods. Hence, this paper investigates how LCA results can be linked to the L.1023 criteria and proposes new criteria, for instance on recycled metals content and modularity. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to explain what managers will want to know about the circular economy by covering some of the key issues and discussing an approach which may help organisations to move towards the circular economy. Design/methodology/approach: This is a conceptual paper, which blends theory and hard facts to achieve its aims. Findings: This paper presents a framework which uses multiple levels of analysis to explain how organisations can prepare for and implement circular economy practices. Originality/value: This paper makes relevant contributions for both academics and practitioners by providing essential practical guidance on the "what", "how" and "why" of the circular economy, which can help managers to plan and implement a convincing business case for this sustainable approach. [ABSTRACT FROM AUTHOR]

In the last years, circular economy has represented one of the most‐debated topics in management research. Although the understanding of this industrial paradigm has significantly improved over the last decade, a number of important research questions still remain unanswered. Among them, the design process of business model through which established firms evolve from being linear to circular deserves further investigation. Existing research still falls short to investigate how companies design the dimensions of value creation, value transfer, and value capture of their business models to launch circular products into the market. By leveraging a multiple case study analysis of four companies in the paper and beverage industries that have launched six circular products, the paper examines the process that these companies have followed to face the transition toward a circular business model. The paper contributes to the research field in the intersection between new product development and circular business models, by showing that the process toward a circular business model occurs along three major phases, that is, idea generation, product development, and commercialization. In each phase, companies implement peculiar managerial practices for launching circular products into the market, which typically address all the dimensions of the business model and follows a recurrent path over time. [ABSTRACT FROM AUTHOR]

Shifting from a linear to a circular economy (CE) is a path promoted from different national and supranational organizations from many years but how that circularity is put in place by businesses from an empirical perspective is still a research gap in the literature. There is the need to stress the study of empirical cases to better understand what are the success factors, the sustainable challenges and the way forward to achieve the goal of a CE. This paper aims to investigate how the circular economy is spreading at the empirical level and with what evolution and opportunities. The framework of the diffusion theory is used to analyse how the CE, as a business model innovation, is widespread. The Italian scenario is taken as background, and 62 good practices of CE are analysed. The results promote a discussion on the attributes of CE, policy implications and future studies to booster the circular changing in society. [ABSTRACT FROM AUTHOR]

With the global economy not yet 10% circular, businesses are key stakeholders in designing new forms of resource use, especially large multinationals. However, compared with the wealth of studies on 'born sustainable' start‐ups, there is minimal case study or interview based research into how incumbent companies are approaching this transition. Focusing on plastics, we ask: how does one incumbent multinational company approach the circular economy transition? This paper presents a case study of the incumbent multinational chemical company Dow, a leading plastics manufacturer. Varied external stressors and drivers for the circular economy act upon a company (which also has its own imperatives), resulting in tentative steps towards circular economy. To date, these steps have tweaked the existing system rather than radically altering the business model. For companies, like for the entire global economy, this transition has only just begun. This paper identifies key drivers, enablers and barriers of the circular economy, none of which are fixed or immutable. Knowing which levers for change are available and effective could help policy makers to shift gear to enable quicker progress towards circularity. Overall, broad based support and engagement is needed to progress the circular economy, hence all stakeholders have roles to play in demanding and enacting circular practices. [ABSTRACT FROM AUTHOR]

The concept of circular economy is increasingly receiving attention in different domains, including strategic management, operations management, and technology management. It requires companies to design their business model (i.e., the value network, the relationships with the supply chain partners, and the value propositions towards customers) around a new concept of sustainable development that reduces consumption of natural resources and preserves the environment. However, extant research falls short in terms of explaining how companies design their business model according to the circular economy principles. Starting from this premise, the present paper provides a systematic review of the literature on the design of business models in the context of circular economy, aiming to offer an overview of the state of research and outline a promising research agenda. [ABSTRACT FROM AUTHOR]

The urgent need to act against climate change is emphasized in many initiatives, such as the Sustainable Development Goals, the European Green Deal, and the Circular Economy Action Plan. The role of the industrial sector is crucial. Companies, however, have to operate in a very complex environment driven by digitization and are supposed to be more sustainable. This paper explores how companies can implement the ecological transformation, with a focus on the role of digital technologies and data in enabling the twin transition. This paper proposes an approach to support SMEs in the twin transition through a combination of digital and sustainable business model development. The concept includes an interdisciplinary methodology that combines qualitative and quantitative approaches, focusing on the latter. The suggested method collection includes adaptations of the business model canvas, value proposition analysis, data-driven decision-making, and the integration of environmental and economic considerations using the system of environmental-economic accounting. In particular, approaches to define the quantification of economic as well as ecological value will be key levers for sustainable implementation. By leveraging these approaches, SMEs can navigate the challenges of digital transformation and sustainability and contribute to a more sustainable future. [ABSTRACT FROM AUTHOR]

In recent years, multiple crises have shown the fragility of global supply chains. In particular, climate change sheds light on the never-ending waste of resources caused by the linear economic model. In response, circular economy emerges as a promising alternative. Companies must rethink and innovate their business models, product life cycles, and underlying mindsets for a systemic transition. Cross-sectoral collaboration in networks is necessary to redesign, reuse, recycle, and remanufacture products and close the loop of material flows. First, projects and research on the concepts of open source hardware, open innovation, and open design show that openness can be a game-changer for the circular economy and circular business models. Although there has been growing interest, there is still a lack of comprehensive research examining possible synergies of openness and circularity, as well as identifying patterns for integrating these concepts into business models. This paper explores possible ways, prerequisites, and obstacles of open source concepts enabling circular value creation in industry. We combine explorative data from a literature review and more than 10 interviews with open source and circular economy experts. Furthermore, a total of 38 case studies of circular or open or open & circular business models were identified and selected for analysis. The empirical results were triangulated with existing business model patterns from the literature. The study presents a framework to describe open and circular business models and four prototypical patterns. In an exploratory approach, we identify necessary lines of future research in order to facilitate open source movements toward a circular economy. The paper provides insights for academics and practitioners from production and supply chain management. It combines interdisciplinary perspectives to unlock the potential of open source concepts and collaboration for enabling a circular economy. [ABSTRACT FROM AUTHOR]

This paper presents a methodology to select the most exciting business models based on renewable energy and circular economy technologies within end-of-life coal mines to help develop a renewable-based energy sector, promote sustainable local economic growth, and maximise the number of green and quality jobs. To achieve this goal, first, a structural analysis was developed to select the technical variables that better identify this complex system. Second, a morphological analysis allowed the construction of the scenario space. Third, a multicriteria assessment was developed to achieve this goal, based on the previously assessed relevant scenarios, considering the European Green Deal policies, technical variables that characterise end-of-life coal mine environments, technology readiness level, the European taxonomy, synergistic potentials, contributions to the circular economy, and sector coupling. Finally, result indicators were selected to analyse the alternative options derived from the justification approach, considering the targets set by the European Green Deal and related taxonomy and the regional policy indicators for the Just Transition Fund. The results show that eco-industrial parks with virtual power plants represent the most appropriate business model choice, according to the scoring given to the different aspects. They may be complemented by a hydrogen production plant, provided that specific economic subventions are obtained to achieve balanced financial results. [ABSTRACT FROM AUTHOR]

Multicriteria decision making (MCDM) is a field that helps decision makers evaluate alternatives based on multiple criteria and encompasses scoring, distance-based, pairwise comparison, and outranking methods. Recent developments have aimed to solve specific problems and overcoming the limitations of previous methods. This paper proposes a new axial-distance-based aggregated measurement (ADAM) method, which is used in combination with the best-worst method (BWM) to evaluate agri-food circular economy (CE)-based business models (BMs) to create a more sustainable and efficient system for producing and consuming food. This paper proposes nine BMs, which were evaluated against eight criteria. The BWM method was used to obtain the criteria weights, while the ADAM method was used to obtain a final ranking of the BMs. The results indicate that a sustainable circular agri-food supply chain is a BM that can bring companies the most significant progress in business and strengthen their position in the market. We concluded that the ADAM method is effective for solving MCDM problems and that, overall, the model is an effective tool for solving the problem defined in this study. The main contributions are the development of a new MCDM method and a hybrid model, the establishment of the framework for evaluation and selection of CE-based BMs, and the identification of the most important ones. [ABSTRACT FROM AUTHOR]

New circular business models can evolve at all stages of the life cycle of a product. Digitalisation can drive disruptive innovations, new business models and novel ways of collaboration and thus can accelerate the economic transition to more resource‐efficient and circular production systems. Yet, there is little empirical research on the enabling role of digitalisation for a circular economy. To address this gap, this paper investigates the role of digitalisation in facilitating circular business models, based on the empirical analysis of a data set of 599 German manufacturing firms and 296 industrial service providers. While relatively few German firms rely on new business models to foster their resource efficiency strategy, we find this share higher for companies with a strong digital focus in the manufacturing sector. This suggests that digitalisation can indeed be a driving force for the implementation of circular business models. [ABSTRACT FROM AUTHOR]

The circular economy promotes a transition away from linear modes of production and consumption to systems with circular material flows that can significantly improve resource productivity. However, transforming linear business models to circular business models posits a number of financial consequences for product companies as they need to secure more capital in a stock of products that will be rented out over time and therefore will encounter a slower, more volatile cash flow in the short term compared to linear direct sales of products. This paper discusses the role of financial actors in circular business ecosystems and alternative financing solutions when moving from product‐dominant business models to Product‐as‐a‐Service (PaaS) or function‐based business models. Furthermore, the paper demonstrates a solution where state‐of‐the‐art artificial intelligence (AI) modeling can be incorporated for financial risk assessment. We provide an open implementation and a thorough empirical evaluation of an AI‐model, which learns to predict residual value of stocks of used items. Furthermore, the paper highlights solutions, managerial implications, and potentials for financing circular business models, argues the importance of different forms of data in future business ecosystems, and offers recommendations for how AI can help mitigate some of the challenges businesses face as they transition to circular business models. [ABSTRACT FROM AUTHOR]

Our current approaches to resource management are not sustainable. Businesses typically follow a linear approach where resources are not well utilized. Maritime ports are part of the problem, as they need to optimize the use of resources and generate negative externalities. However, they can also be important drivers of sustainability if they effectively transition to Circular Economy (CE). In this study, eight principles of CE and ten CBMs, are discussed and used to analyze ports in three areas of intervention. This paper analyzes current CE practices in European ports and the potential to adopt Circular Business Models (CBMs) to create value for port stakeholders and contribute to the United Nations Sustainable Development Goals (SDGs). Drivers and barriers to CE were analyzed, and the level of development was assessed. The ports studied are in Europe and are generally regarded as Maritime Industrial Ports (MIP). The methodology includes a Semi-Systematic Literature Review (SSLR) and a SWOT analysis to examine CE practices in maritime ports. This methodology helped enhance the analysis of Drivers and Barriers to CE transition. This study concludes that ports are developing circular practices and business models on the technical and biological flows, but the level of implementation is moderated to low. Six drivers for adopting CE principles were identified, including European ports' experience in circular activities and the Quality & Environmental Management System (EMS). In addition, seven barriers to CE were highlighted, including the diversity of port characteristics and the different interests and ambitions of port stakeholders that make it difficult to standardize measurements and transition to circularity. Circular development goals in ports should be integrated, and development must balance social, economic, and environmental sustainability. The findings and implications of this study will help Port Authorities (PA) in the strategy, policy development, and implementation of CBMs. [ABSTRACT FROM AUTHOR]

The circular economy concept is popular among developed countries contributing to sustainable production, efficient resource utilization, a new economic model, and higher skill job creation. In production and consumption, it is inevitable in our modern life that we are used to the traditional linear economy cradle-to-cradle model. With the gap in developing countries within the Southeast Asia region, this research aims to understand the motivators and barriers to circular economy business model adoption among the manufacturing firms in Malaysia. Subsequently, the impact of sustainable production will be studied based on the circular economy business model adoption. Using the Theory of Planned Behavior and Partial Least Squares Structural Equation Modeling, this study assesses the responses of 102 respondents from various industries with environmental management systems within Malaysia. Survey-based primary data was gathered to understand motivators and barriers that negatively influence the circular economy business adoption, affecting sustainable production. The findings show that motivators have a positive impact while barriers have a negative impact on circular economy business model adoption. Apart from the barriers and motivators, the research also assesses the level of circular economy adoption among manufacturing firms with certified environmental management systems. This implies a general overview for manufacturing firms in Malaysia regarding circular economy adoption and contributes to the studies done in developing nations. In conclusion, motivators positively impact the adoption of the circular economy business model, while barriers have a negative effect. In addition, adopting the circular economy model has a positive relationship with sustainable production. [ABSTRACT FROM AUTHOR]

The union between Industry 4.0 and the circular economy (CE) appears relatively recent. In this sense, new trading zones for sharing a common scenario among academics and practitioners are needed. The paper aims to investigate the link between Industry 4.0 and the CE by understanding how Industry 4.0 can foster the impact of the CE on companies. The study proposes a broader perspective that includes thematic and content analysis gathering data on professional documents based on business cases, newspaper articles, press releases and specialised blogs, as well as scientific papers. The joint academic‐practitioners view highlights how Industry 4.0 has the potential to impact on the CE through countless actions: increasing waste disposal; promoting remanufacturing; enhancing the efficiency of critical resources such as water, energy, gas and CO2; and improving business models and the mission of companies. However, barriers still exist in its adoption, stressing the need for holistic and integrated design and a proactive environment of collaboration among stakeholders. Results lead to practical as well as research implications. [ABSTRACT FROM AUTHOR]

Efficient packaging waste management systems are essential considering recent revisions of the European legislation on packaging waste management that sets ambitious targets. European rules aim to deal with the increasing quantities of packaging waste, which cause environmental problems. Consequently, it is necessary to identify functional packaging waste management systems to achieve these targets effectively and efficiently. However, given the heterogeneity of the different packaging management systems, policymakers, scholars, and industry operators struggle to have a comparative view. The number of non-harmonized laws in force across countries, autonomous recycling targets, and constant updates are prominent problems that make it difficult to obtain comparable information for research, business, and policymaking. To fill this gap, our research question consists of assigning responsibilities for prevention, collection, recycling, and recovery and an overview of some models at a glance with respect to the general governance and functioning of the system. We base our research on a multiple-case design since more cases are examined using complementary data collection methods, analysis of the previous literature, reports, legislation, and business and institutional websites. Our results provide insights from the following cases: Germany, France, the United Kingdom, the Netherlands, Portugal, Denmark, Spain, and Italy. In addition, policy implications emerge as our insights help overcome barriers in the European market's development caused by the different rules on packaging management and design serving policymakers that aim to harmonize the management of packaging waste. The paper also contains managerial implications for circular economy business models that can be used by managers who aim to design or upgrade their business models according to both recent legislative upgrades and packaging management systems. [ABSTRACT FROM AUTHOR]

The digital age we live in offers companies many opportunities to jointly advance sustainability and competitiveness. New digital technologies can, in fact, support the incorporation of circular economy principles into businesses, enabling new business models and facilitating the redesign of products and value chains. Despite this considerable potential, the convergence between the circular economy and these technologies is still underinvestigated. By reviewing the literature, this paper aims to provide a definition and a conceptual framework, which systematize the smart circular economy paradigm as an industrial system that uses digital technologies during the product life-cycle phases to implement circular strategies and practices aimed at value creation. Following this conceptualization, the classical, underlying circular economy principle, 'waste equals food', is reshaped into an equation more fitting for the digital age—that is to say, 'waste + data = resource'. Lastly, this paper provides promising research directions to further develop this field. To advance knowledge on the smart circular economy paradigm, researchers and practitioners are advised to: (i) develop research from exploratory and descriptive to confirmatory and prescriptive purposes, relying on a wide spectrum of research methodologies; (ii) move the focus from single organizations to the entire ecosystem and value chain of stakeholders; (iii) combine different enabling digital technologies to leverage their synergistic potential; and (iv) assess the environmental impact of digital technologies to prevent potential rebound effects. [ABSTRACT FROM AUTHOR]

Purpose: Circular business models can improve resource use in a financially and environmentally feasible way. However, companies struggle to choose among the vast variety of ways to achieve circularity within a business model. The purpose of this paper is to offer a pragmatic guide for making strategic decisions on circular business models. Design/methodology/approach: This paper develops a conceptual model of six different strategic approaches to circular business models and provides examples to business cases and practice to illustrate these. Findings: This study identifies two critical strategy choices companies should make. First, an innovation strategy addresses the extent to which circularity is achieved with internal or external stakeholders. Second, a resource strategy addresses how companies achieve circularity by narrowing, slowing or closing resource loops. Using examples from business practice, this study illustrates how the combinations of these two strategies can be used to design competitive circular business models. Key managerial questions are also identified to help decide upon a feasible strategy for circular business model innovation. Originality/value: While different types of circular business models have been described, it is less clear what the strategic choices are that companies need to make to find feasible business cases for circularity in terms of value proposition, value creation and delivery and value capture. This study outlines these through a "circular business model strategy framework". [ABSTRACT FROM AUTHOR]

Over the last decade, various governments and supranational bodies have promoted the development of a circular bioeconomy (CBE) as a response to sustainability challenges. The transition towards a CBE requires the collaboration of different actors in the innovation (eco)system. With this conceptual paper, we apply a circular business model lens to address the research question: "What are the archetypical roles of consumers in business model innovations for a sustainable CBE?" We use a combination of complementary theories from the circular economy and bioeconomy literature, evolutionary innovation economics, sustainability transitions research, the business model literature, and the work on active consumers. Considering consumers' agency as a continuum between the manufacturer-active paradigm and the consumer-active paradigm, we propose: (i) consumers in the manufacturer-active paradigm can actively influence circular business models with their purchase decision; (ii) consumers can act as lobbyists and influencers for circular business model innovation; (iii) in their different roles as customer, user, repairer, and reseller, consumers can incentivize organizations to adapt their business models to their needs; (iv) consumers can become key partners in the process of defining the normative orientation of the innovation paradigm for a CBE; (v) consumers can actively co-create value by means of co-ownership (e.g., through platform cooperatives). [ABSTRACT FROM AUTHOR]

This paper discusses the development of circular business models for a large white goods manufacturer. A 7‐year journey in designing, discussing, adapting, and finally finding a potentially profitable circular offer is summarized, and the barriers that had to be overcome in this process are highlighted. The shift from selling washing machines to repeated leases with remanufacturing steps in‐between turned out to be very challenging. Despite the numerous claims in the consulting world that both manufacturers and consumers can benefit from the transition to a circular economy, it took multiple iterations to find a business model with the potential of being economically attractive to both the company and the client. The transformation process of shifting to a circular business model tends to be highly underestimated by companies and involves many issues beyond product design such as customer relationships, return logistics, remanufacturing operations, and service contracts. Researchers will need to work with companies to address the transition issues and to increase the relevance of circular economy research. [ABSTRACT FROM AUTHOR]

The rapid development of information and communication technologies (ICT) has enabled the prevailing digital transformation (i.e. digitalization), where physical products can be readily digitized in the virtual space and seamlessly interconnected. Meanwhile, industries are ever increasingly adopting service business models (i.e. servitization), so as to offer not only physical products but also services as a solution bundle to meet individual customer needs. Such convergence of both digitalization and servitization (i.e. digital servitization) has triggered an emerging IT-driven business paradigm, smart product-service systems (Smart PSS). As a novel paradigm coined in 2014, to the authors' knowledge, only 2 conference papers have provided some literature review to date, and many issues remain uncovered or not comprehensively investigated. Aiming to fill this gap, this paper has conducted a systematic review of Smart PSS or related papers published ever since its first brought up to date (30/06/2019), and selected 97 representative items together with other 37 supplementary works to summarize the tendency towards Smart PSS, its business and technical aspects, current challenges, and future perspectives. From the survey, it is found that several hybrid concerns are the key challenges faced, and self-adaptiveness with sustainability, advanced IT infrastructure, human-centric perspectives, and circular lifecycle management are the core future perspectives to explore. It is hoped that this work can attract more open discussions and provide useful insights to both academics and industries in their exploration and implementation of Smart PSS. [ABSTRACT FROM AUTHOR]

The environmental and economic benefits of adopting a circular economy (CE) approach could be significant for firms. The CE and packaging constitute a fundamental binomial for our economy, yet there are still few studies of the advantages for food value chains, especially in the wine sector. Therefore, in this paper, we address this research gap by measuring the environmental and economic performance of a circular business model (CBM) adopting the wine industry as a reference. We apply a combination of Life Cycle Assessment (LCA) and Life Cycle Costing (LCC) methods to a small Italian winemaking firm, which implements a circular strategy through the take‐back and refurbishment of wine packaging components. Results show that by implementing this sustainable and CBM, a firm can reduce greenhouse gas (GHG) emissions from 8 to 90% and save from 6 to 63% of its economic costs. [ABSTRACT FROM AUTHOR]

Purpose: A systematic review of the literature on circular business models was performed, for synthesis of what it reveals about the role and value of data in those models. The increasing quantity of supply-chain and life-cycle data available has potential to be a significant driver of circular business models. The paper describes the current state of knowledge and identifies avenues for further research related to use of various forms of data in the models. Design: A systematic review of literature on the use of data in circular business models was carried out, to inform understanding of the state of knowledge and provide a firm foundation for further research. Findings: The literature reviewed points to fragmented understanding of the role and value of data in circular business models. Nonetheless, scholars and practitioners commonly see data as a driver and enabler of circular economy. The article identifies two distinct approaches to value for data as presented in the corpus and discusses what types of data seem to be valuable in a circular business-model context. Among the further research opportunities are work on data as a source of business-model innovation and on collaboration in capturing the value of data in circular business models. Value: The study provides new insight on the nexus of circular business models and data, and it represents one of the first comprehensive reviews addressing data's value in a networked circular-economy context. [ABSTRACT FROM AUTHOR]

In the near future, a large volume of electric vehicle (EV) batteries will reach their end-of-life in EVs. However, they may still retain capacity that could be used in a second life, e.g., for a second use in an EV, or for home electricity storage, thus becoming part of the circular economy instead of becoming waste. The aim of this paper is to explore second life of EV batteries to provide an understanding of how the battery value chain and related business models can become more circular. We apply qualitative research methods and draw on data from interviews and workshops with stakeholders, to identify barriers to and opportunities for second use of EV batteries. New business models are conceptualized, in which increased economic viability of second life and recycling and increased business opportunities for stakeholders may lead to reduced resource consumption. The results show that although several stakeholders see potential in second life, there are several barriers, many of which are of an organizational and cognitive nature. The paper concludes that actors along the battery value chain should set up new collaborations with other actors to be able to benefit from creating new business opportunities and developing new business models together. [ABSTRACT FROM AUTHOR]

Purpose: The paper’s main objective is to structure the knowledge of the existing regulatory frameworks, projects and actions that support sustainable performance management (SPM) in small and medium-sized enterprises (SMEs) against the backdrop of the growing significance of the circular economy. The paper will also evidence how strategic management accounting (SMA) assists this process, what individual metrics, dashboards or scorecard concepts have been proposed and how their use may be assessed. Methodology/approach: The research methods include (1) a descriptive systematic analysis of the policies established by the policymakers and regulators in the EU, (2) a comparative analysis of various organisations’ initiatives, actions, delivered toolkits and their outputs, and (3) a literature review of the essential works and research studies on sustainable business models (SBMs), circular business models (CBMs) and SPM in the context of SMEs. Findings: The policies established in the EU support SPM by encouraging SMEs to be involved in sustainable business practices and indicating how to embark on a green transition. Recently, multiple initiatives have been aimed at indicating the opportunities the closed-loop economy system offers SMEs. Many toolkits have also been developed to help SMEs measure their sustainable performance. Although this measurement is vital for SMEs, the business practice falls behind the regulatory framework. Therefore, internal initiatives from the SME sector are needed to popularise the sustainability concept. Research limitations/implications: SMEs show lower levels of compliance with environmental requirements and are unaware of how their activities affect the environment. A limitation of the research is that, in many cases, SMEs are not ready to respond properly to the ESG requirements imposed by regulators. The reason may be a lack of knowledge, experience and limited funds. Therefore, future research should focus on recognizing the gaps in this area and identifying what may be impeding the development of sustainability performance management in SMEs. Originality/value: The work presents the evolution path from the traditional business models (TBMs) through the SBMs to innovative CBMs and addresses their distinctive features. It contributes to the existing knowledge about SMA in SMEs by analysing its links with SPM.

This paper aims to explore the economic, social, and environmental policies in Gulf countries. Despite the increased attention paid by scholars on circularity, there is no evidence about the relationship between the circular economy and Islamic countries. Using an explorative case study, this paper benefits from analyzing several information sources underlying the first link between circularity and Islamic countries. After an in-depth literature review, the authors present a useful comparison between the linear and circular economy concepts. Additionally, we emphasize a framework of policies and best practices adopted from Dubai, which merges several approaches applied towards the circular economy. Furthermore, this paper highlights the theoretical link between social entrepreneurs and Islamic pillars based on the Maqasid al-Shariah business model. In conclusion, the article provides useful implications for researchers and practitioners, who in the future aim to investigate the relationship between Islamic systems and the circular economy. [ABSTRACT FROM AUTHOR]

Supply Chain Integration (SCI) has attracted increasing attention in Supply Chain Risk Management (SCRM) literature as it could be a very useful tool for risk mitigation. At the same time, companies in several sectors are experiencing a transition towards more circular and sustainable business models, which poses new challenges and risks for firms. Despite the relevance of integrative practices in supply chains to deal with risks and uncertainties, evidence about the role of SCI for dealing with risks of Circular Economy (CE) is still lacking. The focus of this paper is on the causal link between SCI and SCRM in a circular economy context, with the main aim of investigating the effects of SCI and SCRM practices combined with CE on company performance. For this research, a multiple case-study approach was adopted involving several companies at different levels in the furniture industry. The results are expected to guide companies in their transition towards CE business models, being able to better deal with CE risks through integrative practices and obtaining an overall increase of efficiency, particularly in costs, due to the optimization and green use of waste materials. [ABSTRACT FROM AUTHOR]

The circular economy has attracted the interest of business leaders, policy makers and academics alike for its potential to contribute to a more resilient, prosperous and resource‐efficient economy. The transition towards a circular economy requires new business models that challenge the linear logic of value creation that is still endemic across most industries. In turn, the transition from linear to circular business models involves the rethinking of strategic decision‐making processes and the development of new organisational capabilities. This paper addresses these important strategic implications of the emergence and implementation of circular business models. Coupling business models with open strategy and dynamic capabilities, we develop a "three‐pronged" strategy framework that advances the emerging field of circular business model research. Our contribution is crystallised into a series of propositions and future research questions for scholars working at the intersection of the circular economy and the strategy literature. [ABSTRACT FROM AUTHOR]

Sustainable luxury research has received growing attention in the most recent years as it requires firms and supply chains to design circular business models and strategies to tackle environmental, financial, and social issues. However, previous research still falls short to deepen how luxury firms design and manage sustainable supply chain practices according to the circular principles. This paper adopts bibliometric and network analysis to evaluate a sample of 747 papers published over the last 35 years. The descriptive statistics and science mapping approaches utilizing cocitation analysis were performed with VOSviewer software to contribute to the ongoing development of sustainability in luxury research with the aim to develop a systemic framework for circular supply chain and offer a comprehensive overview on the topic. The main findings of this paper will help academicians and practitioners to improve the body of knowledge on the topic and provide an overview of promising future research avenues. [ABSTRACT FROM AUTHOR]

The paper prepared in the form of a book review is a review of the book written by the authors Peter Lacy, Jessica Long and Wesley Spindler. The book is entitled "The Circular Economy Handbook, Realizing the Circular Advantage". The book was published by Palgrave Macmillan in 2020. Apart from their academic background, the authors of the book are world-acknowledged experts experienced in leading the world's largest circular economy and sustainability strategy programs and studies, advising the senior leaders of the Fortune 500 companies and public organizations towards zero-waste policies and the circular economy. The book was written as a support to the effort made by the World Economic Forum, the Forum of Young Global Leaders, the Platform for Accelerating the Circular Economy (PACE) in the development of the circular economy and the forewords in the book were written by PACE's C.E.O. and other program co-founders and the world-known thought leaders in those specialized fields. [ABSTRACT FROM AUTHOR]

The overall aim of this paper is to answer the question whether the digital transformation of products, services and business models positively impacts the realization of a circular economy. There is little doubt that the shift towards a circular economy will be mandatory, in order to sustain population growth, despite the limited amount of resources on earth. While the concept of a circular economy has been around for decades, its realization is still in its infantry. The purpose of this paper is to explain the potential of (1) digitalized products and services and (2) digital business models for realizing the concept of a circular economy. Based on research in different disciplines, this paper demonstrates that digital technologies will (1) improved asset utilization, (2) boost the recovery of pure material flows and (3) enable refurbishment and remanufacturing scenarios. The digital transformation has the potential to become the much hoped for ignition spark for the Circular Economy if the remaining challenges regarding regulation, social acceptance and economic viability are met. [ABSTRACT FROM AUTHOR]

Studies of circular economy and innovation have received increasing attention in academic literature in the last quadrennium. They fill a managerial gap on how to operationalise the transition from the linear model to the circular. They show practices, tools and mechanisms that allow creation of business models based on circularity premises. In this article, we seek to identify the intellectual contours of this emerging field, conducting a review of the basic conceptual framework, with an analysis of articles published on the topic of circular economy and innovation. In summary, a systematic literature review was developed, whose final bibliographic portfolio consisted of 94 analysed papers. The results of the study show that eco‐innovation and innovation in business models are highlighted in this field. They are operationalised, mainly, by activating dynamic, relational and absorptive capabilities. The most important innovation practices in this context are waste management, eco‐design business models, product leasing and collaborative commerce. The main contribution of this study is to pave the way for new conceptual developments in organisational capabilities to make transition sustainable and serve as a support arsenal for the maturation of circular economy studies supported by the theory of innovation and also to link management practices to operational processes in the business and production environment favouring the transition to a circular business model. It generates insights for the scientific progression of studies and shows propositions that can be validated in future quantitative studies. [ABSTRACT FROM AUTHOR]

The paper presents the study conducted in the Mokotów district in Warsaw, encompassing circular practices of eight chosen local entities, from private, public, and NGO sectors. The choice was based on the preliminary research showing that the entities were already engaged in some form of the circular transition. The definition of the circular economy applied in the study was based on the one proposed by Kircherr, Reike, and Hekkert [2017] describing a circular economy as an economic system based on business models replacing the 'end-of-life' concept with reducing, alternatively reusing, recycling, and recovering materials in production/distribution and consumption processes. The aim is to accomplish sustainable development, by creating environmental quality, economic prosperity, and social equity to the benefit of current and future generations. The goals of the study encompassed: • verification if there is a common understanding of what the circular economy is; • identification and comparison of circular practices introduced by various actors; • identification of existing incentives for circular practices and expected benefits; • pinpointing the obstacles and barriers, both within organisations and outside. The identified practices were also verified to support more specific goals of the circular economy, present in the literature. The findings show that current benefits of the circular transition are limited and the actions are mostly driven by personal involvement. The lack of the support of local administration is evident, as well as the limitation of market solutions. Networking turns are to be one of the most important aspects of efficient circular practices. [ABSTRACT FROM AUTHOR]

The construction business environment is becoming competitive and intense, and Business Models (BMs) are receiving considerable attention as potential sources of sustainable survival and growth. Converse to the Linear Economy (LE) model that industry follows, the Circular Economy (CE) model has the potential to create a sustainable construction industry while also creating a sustainable business environment in construction organisations. Nevertheless, in traditional BMs, value is often concentrated on the financial value for the stakeholders; in the Circular Economy Business Model (CEBM), value is seen more broadly by considering a comprehensive range of value chain partners, the environment, and society. Hence, implementing the CE in the construction industry requires reforms in each value chain. Thus, the aim of this paper is to develop a conceptual model for construction organisations’ adoption of CEBM for their organisations. To accomplish this aim, the objectives of this paper are twofold: (i) to define the concept of CEBM and (ii) to map a conceptual Circular Economy Business Model Canvas (CEBMC) that is applicable in the construction organisational context. This research adopted a systematic document review, including a content analysis of selected papers. This study contributes significantly by proposing a CEBMC where construction organisations can successfully transform their businesses from linear to circular environments.

A business model (BM) is a new unit of analysis distinct from the product or the company, with broader boundaries than the traditional way to regard a company. More exactly, it can be defined as a systemic and integrated view to create and deliver value to its customers. However, issues related to social and environmental aspects have been neglected by the BM approach. Most of the traditional business models (BMs) have only one goal, which is to create financially profitable companies. This “narrowness of mind” has been tackled by several authors due to the rising of Corporate Social Responsibility (CSR) strategies, which have been amplified, due to the rising of the Circular Economy (CE) paradigm. CSR actions are part of predominantly linear BMs, in which the overall achievement of the organization has been measured following the grade of implementation of said measures. The literature demonstrates that the CSR actions applied have been effective. However, we must question whether this is enough, and that leads us to three questions linking CSR and sustainability with BMs under a triple theoretical framework. Owing to the need to study the change of model, the goal of this paper is to perform a bibliometric analysis of the existing literature about CSR, sustainability, and CE simultaneously which can help us to put the need for and importance of this line of research into context. This paper is also a contribution for the new BMs that stem from the collaboration between enterprises and Universities.

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. [ABSTRACT FROM AUTHOR]

Fashion is widely considered as one of the most polluting and destructive industries to the environment and is a resource‐intensive industry in which opportunities to reduce environmental impacts abound. By relying on an exploratory approach, this paper features an investigation into the circular economy (CE) practices of four purposefully selected Italian fashion companies. The study endorses the overlooked perspective of the product lifecycle (vis‐à‐vis the business model perspective), consistent with the key principles of the CE, to provide a comprehensive picture of CE practices implemented. This study engages with the current debate on the relationship between the concepts of sustainability and CE, supporting the idea that there is a beneficial relation between the two. The analysis shows the emergence of categories of CE‐related practices as well as CE implementation challenges. The study also provides granular insights into the nature of these challenges that hinder the implementation of CE and demonstrates how they can be turned into sources of competitive advantage. Drawing on this emblematic evidence, we develop a set of theoretical and managerial implications. [ABSTRACT FROM AUTHOR]

The dominant conception of the circular economy presents it as a politically neutral, technology-driven process of efficiency improvements and green market expansion. However, it does not consider the social embedding of circularity and thereby risks undermining the transition out of de facto linear economies. This paper begins with a critique of the dominant conception of the circular economy and its shortcomings in relation to allocation, justice, and sustainable scale. Second, the paper contributes toward theorizing an alternative, social economy-based embedding of circularity. We theorize how the social economy embeds circularity through: (1) business models reflecting the needs and interests of their stakeholders and, with them, a primacy of social value creation; (2) production and consumption based on active citizen involvement in deliberation and decision-making; (3) an approach to technology that seeks to empower technology users; and (4) the promotion of regional economies and circular value chains based on a sense of place. Our theory propositions are inspired by prior empirical research at the intersection of the circular economy and the social economy. We discuss the potential and the challenges of a social economy embedding of circularity against the background of vested interests and incumbents profiting from low circularity and unsustainability. • A critique of circular economy in relation to allocation, justice and scale. • A novel theoretical approach to social economy-based embedding of circularity. • Theory propositions about business, governance, technology and environment. • Reasons for stasis and for transformation toward socially embedded circularity. • Examples of social economy-embedded circularity from cooperatives and nonprofits. [ABSTRACT FROM AUTHOR]

The industrial revolution and economic activity have led humanity to unprecedented success in the production and development of technology, but also to a super-consumer society that has managed to consume more of the earth's resources than it is possible to reproduce on its own. We, humans, have changed the earth, the climate, and destroyed species faster than any other species. Bioeconomy is perceived as the innovative answer to the needed fundamental transformation of the production systems to overcome the present lock-in situation. In the recent years the European Union has given unappealable support to greening the economy across the Community. Policies, strategies, financial mechanisms are introducing the green practices and business models in key sectors and economies. A new era of economic revolution follows, in which Bulgaria also needs to take its role. The present paper tackles the emerging challenges and progress in moving towards the sustainability, which requires a fundamental shift in industry, education and science, institutions, and community. [ABSTRACT FROM AUTHOR]

Responsible production and consumption requires firms, political decision-makers and consumers to adapt to durable practices. Adapting a circular economy helps us achieve this objective, but in industries like the textile and fashion ones, due to the impact their companies have on the environment, responsible management of waste and usage of secondary raw materials should be part of their business model. In this paper we have sought to highlight through a few examples of good practices the role and impact that one of the major players within this industry, namely the H&M Group, has, through initiatives and innovations, on the transition towards a circular business model. [ABSTRACT FROM AUTHOR]

This study investigates how the circular economy and business models are related in the current business and management literature. Based on bibliometric analytical procedures, 253 articles were retrieved from the Scopus, Web of Science, and ScienceDirect scientific databases. The articles were analyzed according to network analysis principles, and key terms were mapped into a network. We used VOSviewer to build the network, explore the most‐researched terms and their relationships, and identify less‐explored terms and research gaps. We furthermore conducted a qualitative review of selected publications to provide an illustration of quantitative results and delve deeper into the research topics. The main findings revealed the networks of current topics as they appear in the publications such as business models, the circular economy, circular business models, value, supply chain, transition, resource, waste, and reuse, and their most prevalent relationships. The results also highlighted several emerging topics such as those connected with managerial, supply‐side, demand‐side, networking, performance, and contextual considerations of circular business models. [ABSTRACT FROM AUTHOR]

Circular business models based on remanufacturing and reuse promise significant cost savings as well as radical reductions in environmental impact. Variants of such business models have been suggested for decades, and there are notable success stories such as the Xerox product-service offering based on photocopiers that are remanufactured. Still, we are not seeing widespread adoption in industry. This paper examines causes for reluctance. Drawing on a hypothesis-testing framework of business model innovation, we show that circular business models imply significant challenges to proactive uncertainty reduction for the entrepreneur. Moreover, we show that many product-service system variants that facilitate return flow control in circular business models further aggravate the potential negative effects of failed uncertainty reduction because of increased capital commitments. Through a longitudinal action research study we also provide a counterexample to many of the challenges identified in previous studies, which could be overcome in the studied case. Copyright © 2015 John Wiley & Sons, Ltd and ERP Environment [ABSTRACT FROM AUTHOR]

The aim of this paper is to investigate consumer behavior regarding the environment and the adoption of new patterns of behavior and responsible consumption in the promotion of a Circular Economy (CE) in Romania. With this goal in mind, a questionnaire survey was performed on-line on a nationwide scale to explore consumers' behaviors and attitudes, which was distributed in all four of Romania's macro-regions and interviewing 642 respondents. The results indicate that the consumers have a positive attitude towards the importance of the environmental protection, in general and it also measures the frequency of adopting eco-friendly behaviors by the consumers, showing that the consumption behavior is not very consistent with the general attitude regarding environment. As a parallel, consumers are aware of the importance of CE business models, in general, both for the economy and for the environment, but the adoption of consumption patterns specific to CE business models, necessary for the development and the success of the CE business models, has a low probability in the absence of direct or indirect incentives and benefits fostering the adoption of these consumption patterns. In conclusion, the development of CE business models in Romania requires a national strategy, which includes means to sustain the adoption of necessary new consumption behaviors, besides awareness raising and educational campaigns for explaining to consumers the liaison and the impact of their behavior to the environment and to the economy. [ABSTRACT FROM AUTHOR]

Circular economy is a key strategy to achieve corporate sustainability. However, so far, most firms are unable to translate the concept of circular economy into their corporate strategies, business models, and operations. Some scholars have argued that firms need to develop new (and dynamic) capabilities for circular economy implementation. Yet there is a little discussion on how firms can develop such capabilities. Notably, there is a paucity of research on specific skills, processes, and organizational activities (microfoundations of dynamic capabilities) that may facilitate circular economy implementation. To address this knowledge gap, using a multiple‐case studies approach, we explore microfoundations of dynamic capabilities in successful circular economy business cases. Our findings indicate that dynamic capabilities positively contribute to circular economy implementation. Our case studies show that case firms identified circular economy opportunities by using four microfoundations of sensing capability. Further, case firms acted on the identified opportunities by using simultaneously three microfoundations of seizing capability and four microfoundations of reconfiguring capability. This paper contributes to the literature on the relations between dynamic capabilities and corporate sustainability by providing insights on how sensing, seizing, and reconfiguring dynamic capabilities act in successful operationalization of circular economy strategies. [ABSTRACT FROM AUTHOR]