Strategies for Sustainable Development in Circular Economy

Running Head: Sustainable development 0
Sustainable development
1/14/2019

Sustainable development 1
Introduction
Moving towards sustainable development is a global and social challenge that will take
efforts from national, local government, and international cooperation from researchers and
academics to carry out the best practices to motivate essential innovation and changes. They
should appraise economic benefits to develop new technologies, going green, and reinvent
the framework in a reversible and flexible manner to prosper innovations. There is a
developing need to change to move sustainable development as it influences environmental
issues, for example, water, and soil pollution, and biodiversity loss, excessive utilization of
land, air, and resources depletion. The economic challenges such as deregulated markets,
supply risk, flawed incentive, and ownership structures, which leads to excessive utilization
of economic and financial instabilities for the entire industry. To address this sustainability
and other concerns the concept of the circular economy has gained much significance on the
agendas of representatives (Geissdoerfer et al., 2017).
This has gained wide popularity, which aims to cooperate and contribute to the development
of the country. Sustainability issues are progressively incorporated into the plans and
strategies of the company. Indicators determining circular economy have increased
considerable interest throughout the economy. It becomes significant to evaluate circular
economy development because the United Commission is trying to assist U.K business and
customers to make the stronger innovation and circular economy. In order to attain the
circular economy, the package has been adopted to contribute and close the loop through
greater re-use and recycling. On the other aspect, the U.K. commission does not have any
appropriate tools to evaluate the circular economy at the major level. It is a resource-full
substitute for the economic model of regeneration, which strives in contributing to and
supporting the economy (Murray, Skene and Haynes, 2017). In the following, an effort has
been made to discuss the concept of sustainability and circular economy, strategies maintain
to attain sustainable development, and innovative means of promoting sustainability.
Ways to create a sustainable future
The circular economy is a paradigm for economic development, growth, and policy initiative.
It brings a multi-level transition towards cyclical, unsustainable, conventional framework by
reducing the intake of natural resources. It maintains with the aim to attain sustainable
development, which implies to maintain social equity, environmental quality, and economic

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prosperity to the advantage of current and future generations. The circular economy is
associated with the Sustainable development goals, which is approved by the United Nations
in 2015. These incorporate goals such as sustainable cities and communities, no poverty,
promotion of sustainable and inclusive innovation, and responsible consumption. There is
significant potential for maintaining more material flows, as the global economy has been
evaluated to be only 9%. It has been evaluated that it brings socio-economic and
environmental benefits and take benefit of rapid technological growth, which maintains
resource productivity and current development. It will bring enhancement to current
development with adequate benefits for employment opportunities. It would also assist to cut
greenhouse gas emissions in industries such as consuming aluminum, plastics, cement, and
steel (Tukker, 2015).
It has been expected to bring advantages to municipalities and industries because of the
reduction in the need for waste management, environmental consideration such as pollution,
and resource efficiency. It has immense potential to generate social as well as economic
benefits to maintain employment opportunities and welfare for improvement in trade-off
balances (Lieder and Rashid, 2016).
(Ghisellini, Cialani and Ulgiati, 2016).

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There are many factors, which affect the efficient utilization of existing natural resources
such as environmental economics, industrial ecology, and ecological economics. They have
maintained the balance of environmental burden of many democratic and industrialized
countries. They have developed the plan to establish and aimed to contribute recycling and
waste measures in a systematic and sustainable way. It is stated that China was the first
country to utilize the circular economy in the respect of waste management and resource
policy initiative. China’s engagement with the circular economy, which is formally accepted
by the central government. They should initiate a policy development towards a circular
economy and make a more holistic and ambitious approach. They should concentrate on
certain areas involving transport, logistics, sustainable framework, technical loops, and
serious action in order to attain systematic innovation. Despite the considerable progress in
policy initiatives, substantial efforts are required in order to avoid the barriers in the path
involving social, economic, and cultural barriers. The market barriers are attracted by a lack
of synergistic governmental involvements to accelerate the innovation towards a circular
economy (Genovese et al., 2017).
An integrated business models that have been evaluated to generate primary resource
advantages and unlock the gains by presenting immense employment opportunities in the
organization enable circular economy. These models have been diversified to an extent of
non-recyclable waste material into recyclable material to produce new technologies such as
3D printing, loop etc. (Hassan and Lee, 2015). It also determines a categorization of business
integrated models which is described as RESOLVE:
 Regenerate- It determines the shifting of renewable and recyclable energy and
material from non-recyclable energy.
 Share- It is stated as sharing and recycling industry as well as prolonging the
sustainability in the economy.
 Optimize- It is referred to as waste minimization, communication technology,
increased efficiency, and the use of data and information in a more similar and
systematic manner.
 Loop- It is stated as concluding the biological and technical cycle of material.
 Virtualise- It focuses on the direct and indirect impact of the circular economy on
promoting the culture in the economy.
 Exchange- It determines the innovation of new technologies and change in the
organization (Muñoz and Dimov, 2015).