THE FUNDAMENTAL DRIVERS IN THE TRANSIT TO CIRCULAR ECONOMY.

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]