Ethics, Sustainability and Social Impact

Ethics, sustainability
and social impact

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
Discussion of Circular Economy referring to theories from which it emerged.....................3
TASK 2............................................................................................................................................5
Development of circular economy in a developing country and its progress focusing on the
barriers, enabling factors and opportunities for its growth.....................................................5
Development of circular economy enabling factors and opportunities for its growth:..........6
TASK 3............................................................................................................................................7
What local and international companies and local government can do to support the
development of circular economy in a city............................................................................7
TASK 4............................................................................................................................................8
Report for commonwealth Local Government ministers meeting on key and recommendations
for action in a city...................................................................................................................8
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
In International business ethics, sustainability and social impact play a vital role as it
brings standards in a business and helps the business to form an environment which is perfect for
future generation. An organisation should always consider in mind various factors which impact
environment in general (Croom, and et. al. 2018). A sustainable business is always useful to the
environment and for international regulating bodies like NGOs, UN, Commonwealth etc. This
report includes analysis of various theories related to circular economy, example of developing
commonwealth in a city and circular economy examples. This report contains analysis of
progress of circular economy in a city, what government can do to promote local and
international companies to support development of circular economy in a city. This report also
contains report for commonwealth local Government ministers meeting on key and
recommendations for action in a city. In this report example of Buenos Aires city which is
capital of Argentina is taken to into consideration to understand circular and commonwealth
economy in a precise manner.
TASK 1
Discussion of Circular Economy referring to theories from which it emerged
Circular Economy refer to major economic activities which facilitates the development of
overall system in a economy. In circular economy, both large scale business and small scale
business play a major role for achieving organisational and individual goals. Circular economy is
beneficial for whole world in carrying out sustainable international business. It helps in
development of systematic business opportunities in the market which is also beneficial for
citizens of a country. Various societal benefits are also facilitated by circular economy which
generally leads to formation of corporate social responsibility for a business. In this modern
word, role of technology is increasing day by day, so the circular economy facilitates a business
to gain growth in market with proper use of information and technology (Gatto, 2020). In
circular economy, there is a vital role of government in promotion and support of a business
which facilitates an entity to conduct all related tasks to its functioning in a proper manner.
Circular economy also facilitates optimum utilisation of resources in order to avoid air, water
and noise pollution carried out by different countries. Circular economy also incudes recycling of
waste products and materials present in an economy in order to develop a comprehensive

approach which increases sustainability of all the businesses which are present in an economy
(Theories of circular economy,2021). The theories of Circular economy are explained below:
 Conventional linear economy- This theory of circular economy play a major role in
marketplace for a business as well as for the government under which conventional
practices are performed. This theory includes the engagement of resources and after that
production in a business is performed and after the product is used, it is considered as
waste. In conventional linear economy, the approach of Take-make-waste is taken into
consideration which generally takes raw material and makes a product and after its use
the product gets waste, it means the product is thrown in garbage. Conventional linear
economy causes pollution in environment and leads to develop a dangerous approach
which impacts the environment in a negative manner. The examples of conventional
linear economy are GHG emission, POP emission and Garbage hill.
 Circular model- Circular model mainly deals with recycling of produced and consumed
materials in an economy, The circular model uses the resources available in a country in
an optimum manner as well as it helps in protecting the environment in a precise manner
with the help of recycling a product (Harjoto, 2017). The products in a circular model are
reused in an economy which prevents wastage of resources available in a country. The
circular model is widely used by most of the businesses in order to facilitate a sustainable
environment in the country.
 E co Efficiency- This theory in circular economy deals with performing more production
using less amount of resources. The E co efficiency also develops an environment which
stops the wastage of resources for a business. This theory is widely practised in various
countries where heavy industries takes into consideration very less amount of resources
in its production process and forms a production quality which is also environment
friendly. With the application of this theory, 3Rs are used in a business which are reduce,
reuse and recycle. This theory also focuses on bringing energy efficiency in a business
which is also good for an organisation to reduce pollution and perform a sustainable
business in market.
 Mass and energy- This theory of circular economy uses conventional sources in the
production process of a business. Mass and energy use in business production process
helps a business to get competitive advantage and use cheap sources to facilitate