Business models for circular economy implementation

Abstract

Crises that threaten the viability of our planet: climate change, natural disasters and depletion of natural resources have their roots in the way we use materials and goods. Companies need to update their policies as we move into a circular economy and this is a very important transition for the environment. In a circular economy, production and consumption are increasingly based on responsible raw materials and renewable energy, providing a product as a service, long-term products and reused materials. Companies need to prepare for a change in earnings practices and patterns. In a circular economy, a company creates added value for their products with more services and intelligence. Through this study, we aim to highlight the main barriers that companies may face in the process of implementing circular business models, the knowledge and implementation of which are important at any level of decision making.