Repertory on Circular Economy for Students

Abstract

Zahariev, A., Angelov, P., Mihaylova, M., Manole, A.–L., Deatcu, C., Cucu, V., Ciobanu, G., Vasile, V., Gokmen, A.M., Sarici, V., Viga, S.O., Gulbas, E.E., Ivanovic-Djukic, M., Radosavljevic, M., Stefanovic, S., Krstic, B., Talic, M. (2024) Repertory on Circular Economy for Students. Tsenov Academic Publishing House, Svishtov, 168 pages, ISBN 978-954-23-2479-9, DOI: https://www.doi.org/10.13140/RG.2.2.28495.91044 / The book is developed within the project: "Trifold approach to circular economy: perspectives of academia, business and wider society" 2022-1-BG01-KA220-HED-000085464. This publication is prepared within the scope of the project "Trifold approach to circular economy: perspectives of academia, business and wider society" 2022-1-BG01-KA220-HED-000085464, which has been co-financed by the Erasmus+ Programme of the Education, Audiovisual and Culture Executive Agency (EACEA) of the European Commission. The European Commission support for the production of this publication does not constitute an endorsement of the contents which reflects the views only of the authors, and the Commission cannot be held responsible for any use which may be made of the information contained therein. The publication is a collaborative work of the partner organizations to the project. The names of the organizations partnering in the project which contributed to this publication are as follows: D. A. Tsenov Academy of Economics – Bulgaria, Artifex University of Bucharest, Istanbul Esenyurt University and University of Nish.

Full text

Andrey Zahariev
Petko Angelov
Margarita Mihaylova
Alexandru – Lucian Manole
Catalin Deatcu
Virginia Cucu
Ghenadie Ciobanu
Veronica Vasile
Yasemin Sarici
Ahmed Munir Gokmen
Saban Onur Viga
Ekrem Erdinc Gulbas
Maja Ivanovic-Djukic
Marija Radosavljevic
Suzana Stefanovic
Bojan Krstic
Miljana Talic
Repertory on
Circular Economy
for Students
Developed within the project:
“Trifold approach to circular economy: perspectives
of academia, business and wider society”
2022-1-BG01-KA220-HED-000085464

This publication is prepared within the scope of the project “Trifold
approach to circular economy: perspectives of academia, business and wider
society” 2022-1-BG01-KA220-HED-000085464, which has been co-financed
by the Erasmus+ Programme of the Education, Audiovisual and Culture
Executive Agency (EACEA) of the European Commission.
The European Commission support for the production of this publication
does not constitute an endorsement of the contents which reflects the views
only of the authors, and the Commission cannot be held responsible for any
use which may be made of the information contained therein.
The publication is a collaborative work of the partner organizations to the
project. The names of the organizations partnering in the project which
contributed to this publication are as follows: D. A. Tsenov Academy of
Economics – Bulgaria, Artifex University of Bucharest, Istanbul Esenyurt
University and University of Nish.
(CC) This publication is licensed under a Creative Commons Attribution-
NonCommercial-ShareAlike 4.0 International License.
©Andrey Zahariev, author, Svishtov, 2024
©Petko Angelov, author, Svishtov, 2024
©Margarita Mihaylova, author, Svishtov, 2024
©Alexandru – Lucian Manole, author, Bucharest, 2024
©Catalin Deatcu, author, Bucharest, 2024
©Virginia Cucu, author, Bucharest, 2024
©Ghenadie Ciobanu, author, Bucharest, 2024
©Veronica Vasile, author, Bucharest, 2024
©Ahmed Munir Gokmen, author, Istanbul, 2024
©Yasemin Sarici, author, Istanbul, 2024
©Saban Onur Viga author, Istanbul, 2024
©Ekrem Erdinc Gulbas, author, Istanbul, 2024
©Maja Ivanovic Djukic, author, Nis, 2024
©Marija Radosavljevic, author, Nis, 2024
©Suzana Stefanovic, author, Nis, 2024
©Bojan Krstic, author, Nis, 2024
©Miljana Talic, author, Nis, 2024
©Tsenov Academic Publishing House, 2024
ISBN 978-954-23-2479-9
DOI 10.13140/RG.2.2.28495.91044

Andrey Zahariev
Petko Angelov
Margarita Mihaylova
Alexandru – Lucian Manole
Catalin Deatcu
Virginia Cucu
Ghenadie Ciobanu
Veronica Vasile
Yasemin Sarici
Ahmed Munir Gokmen
Saban Onur Viga
Ekrem Erdinc Gulbas
Maja Ivanovic-Djukic
Marija Radosavljevic
Suzana Stefanovic
Bojan Krstic
Miljana Talic
Repertory on
Circular Economy
for Students
Project number: 2022-1-BG01-KA220-HED-000085464
“Trifold approach to circular
economy: perspectives of academia,
business and wider society”
Programme Erasmus+, Cooperation for innovation and the exchange
of good practices, Strategic Partnerships for Higher Education,
Development of Innovation
Tsenov Academic Publishing House
Svishtov, 2024

This edition is developed as part of Work Package Two within project number 2022-1-BG01-
KA220-HED-000085464 “Trifold approach to circular economy: perspectives of academia,
business and wider society”. Specifically, it focuses on achieving the second specific objective,
which involves exploring the components of circular economy from students’ perspective.
All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or
transmitted by any means, including photocopying, without the written permission of the
publisher. This publication is not intended for sale, and any sale or resale is considered by the
publisher as copyright infringement. The participation of the authors and partner institutions
in the writing of the textbook is indicated in the introduction and the main body of the textbook.
Repertory on Circular Economy for Students
Textbook, first edition
Prof. D-r Andrey Zahariev, author, Svishtov, 2024
Head Assist. Prof. D-r Petko Angelov, author, Svishtov, 2024
Sen. Lecturer D-r Margarita Mihaylova, author, Svishtov, 2024
Prof. D-r Alexandru – Lucian Manole, author, Bucharest, 2024
Assoc. Prof. Conf. univ. D-r Catalin Deatcu, author, Bucharest, 2024
Assoc. Prof. D-r Virginia Cucu, author, Bucharest, 2024
Lecturer D-r Ghenadie Ciobanu, author, Bucharest, 2024
Lecturer D-r Veronica Vasile, author, Bucharest, 2024
Head Assist. Prof. D-r Ahmed Munir Gokmen, author, Istanbul, 2024
Head Assist. Prof. D-r Yasemin Sarici, author, Istanbul, 2024
Head Assist. Prof. D-r Saban Onur Viga, author, Istanbul, 2024
Head Assist. Prof. D-r Ekrem Erdinc Gulbas, author, Istanbul, 2024
Prof. D-r Maja Ivanovic Djukic, author, Nis, 2024
Prof. D-r Marija Radosavljevic, author, Nis, 2024
Prof. D-r Suzana Stefanovic, author, Nis, 2024
Prof. D-r Bojan Krstić, author, Nis, 2024
Research Assistant Miljana Talic, author, Nis, 2024
Prof. D-r Stoyan Prodanov, reviewer, Svishtov, 2024
Prof. D-r Tadija Djukic, reviewer, Nis, 2024
Sen. Lecturer D-r Margarita Mihaylova, proofreader, Svishtov, 2024
The textbook is part of the output from project number 2022-1-BG01-KA220-
HED-000085464 “Trifold approach to circular economy: perspectives of
academia, business and wider society”, Programme Erasmus+, Cooperation
for innovation and the exchange of good practices, Strategic Partnerships for
Higher Education, Development of Innovation. The European Commission's
support for the production of this publication does not constitute an
endorsement of the contents, which reflect the views only of the authors, and
the Commission cannot be held responsible for any use which may be made
of the information contained therein.

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Content
INTRODUCTION ................................................................................ 10
CHAPTER ONE. CHALLENGES OF THE CIRCULAR
ECONOMY .......................................................................................... 21
Introduction to chapter one ............................................................................... 21
1.1. General overview of the topic ..................................................................... 22
1.2. Changes in production and consumption patterns ................................... 25
1.3. Redesigning the value chain....................................................................... 31
1.4. Synchronising circularity with competitive business models .................... 34
1.5. Developing circular behaviour ................................................................... 39
STUDENTS TRAINING SECTION ................................................................. 43
References .................................................................................................... 43
Keyword list with vocabulary ...................................................................... 44
Questions for self-evaluation and discussion .............................................. 45
Summary ...................................................................................................... 49
Training example 1-1 ................................................................................... 51
Training example 1-2 ................................................................................... 52
Training example 1-3 ................................................................................... 52
CHAPTER TWO. SOLUTIONS FOR TRANSITION TOWARDS
CIRCULAR ECONOMY ................................................................... 54

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Introduction to chapter two ............................................................................... 54
2.1. Industry ....................................................................................................... 55
2.1.1. Sectoral diversification and resource unification in the circular
economy ....................................................................................................... 55
2.1.2. Evidence of circular economy in the industry of Bulgaria ................ 59
2.2. Chemicals .................................................................................................... 63
2.2.1. Sodium Hydroxide as a Universal Chemical Agent in the Circular
Economy ...................................................................................................... 63
2.2.2. Ecological analysis of caustic soda production methods as a universal
chemical agent in the circular economy ...................................................... 65
2.3. Plastics. ........................................................................................................ 69
2.4. Waste and recycling. ................................................................................... 74
2.4.1. Provision for the collection and recycling of waste through a
household waste fee. .................................................................................... 74
2.4.2. Collection and transportation of household waste ........................... 75
2.4.3. Safe disposal of household waste ...................................................... 76
2.4.5. Methodological calculations and cost estimate for determining the
components of the municipal household waste fee (HWF) ......................... 79
STUDENTS TRAINING SECTION ................................................................. 81
References .................................................................................................... 81
Keyword list with vocabulary ...................................................................... 83
Questions for self-evaluation and discussion .............................................. 86
Summary ...................................................................................................... 87

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Training example 2-1. .................................................................................. 89
Training example 2-2. .................................................................................. 90
CHAPTER THREE. IMPLICATION OF CIRCULAR ECONOMY
TO DISADVANTAGED AND DISCOURAGED STUDENTS ...... 92
Introduction to chapter three ............................................................................ 92
3.1 Circular economy and a poor person’s problem ........................................ 94
3.1.1 Socioeconomic implications for impoverished communities ............. 94
3.2. Complexity of circular skills ....................................................................... 98
3.2.1 Understanding circular economy ....................................................... 98
3.2.2 Circular Skills in Design and Innovation ........................................... 99
3.2.3 Continuous Learning .......................................................................... 99
3.2.4 Supply Chain Management in the Circular Economy ........................ 99
3.2.5 Circular Skills in Manufacturing and Production ........................... 100
3.2.6 Circular Skills in Resource Management ......................................... 100
3.2.7 The Role of Technology in Circular Skills ....................................... 100
3.2.8 Circular Skills in Policy and Advocacy ............................................ 101
3.2.9 Challenges and Barriers to Developing Circular Skills .................. 101
3.3 The case of replacing study with work ...................................................... 102
3.3.1 Definition of Study and Work ........................................................... 102
3.3.2 Benefits of Work ................................................................................ 103
3.3.3 Learning by Working ........................................................................ 104
3.4 Digital Trends and Inclusiveness .............................................................. 108

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3.4.1 Understanding Circular Skills .......................................................... 108
3.4.2 Challenges and Opportunities .......................................................... 109
Digitalization Trends: A Transformative Force ........................................ 110
3.4.3. Inclusiveness in the Digital Age: Bridging the Divide .................... 111
STUDENTS TRAINING SECTION ............................................................... 112
References .................................................................................................. 112
Keyword list with vocabulary .................................................................... 116
Questions for self-evaluation and discussion ............................................ 119
Summary .................................................................................................... 120
Training example 3-1. Interactive Activities of Circular Economy for
Students ...................................................................................................... 121
Training example 3-2.1 .............................................................................. 123
Training example 3-2.2 .............................................................................. 123
CHAPTER FOUR. CIRCULAR ECONOMY FUTURE
SPECIALISTS ................................................................................... 124
Introduction to chapter four ............................................................................ 124
4.1. Evolvement into a Circular Economic Business Model at the personal,
corporate, institutional, and societal levels ..................................................... 125
4.1.1. The concept of circular business models ......................................... 125
4.1.2. Development of circular business models at the company and personal
level ............................................................................................................ 127
4.1.3. Circular business models development at the institutional and societal
level ............................................................................................................ 135

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4.2. Up-and-coming green-economy professions and jobs ............................ 143
4.2.1. Circular or Green job definitions and job typology ........................ 143
4.2.2. The up-and-coming green-economy professions and new jobs ..... 147
4.2.3. New professional skills that will drive the Circular Economy ........ 149
STUDENTS TRAINING SECTION ............................................................... 154
References .................................................................................................. 154
Keyword list with vocabulary .................................................................... 158
Questions for self-evaluation and discussion: ........................................... 159
Summary .................................................................................................... 159
Training example 4-1. Methodological considerations of the elements for
designing the Canvas business model of the circular economy ................ 160
Training example 4-2. Illustration of core and enabling circular jobs and
skills in Amsterdam in the Netherlands ..................................................... 164
Training example 4-3. Deposit & Return system for recycling drinks cans
and bottles in Denmark generates new circular/green jobs ..................... 166
This book shall be cited in APA style as follows:
Zahariev, A., Angelov, P., Mihaylova, M., Manole, A.–L., Deatcu, C., Cucu, V.,
Ciobanu, G., Vasile, V., Gokmen, A.M., Sarici, V., Viga, S.O., Gulbas, E.E.,
Ivanovic-Djukic, M., Radosavljevic, M., Stefanovic, S., Krstic, B., Talic, M.
(2024) Repertory on Circular Economy for Students. Tsenov Academic Publishing
House, Svishtov, 168 pages, ISBN 978-954-23-2479-9, DOI:
https://www.doi.org/10.13140/RG.2.2.28495.91044

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INTRODUCTION
Dear readers,
After publishing the first book (Zahariev, A., Angelov, P., Mihaylova, M.,
Gokmen, A.M., Viga, S.O., Tevlik, G., Gulbas, E.E., Ciobanu, G., Deatcu, C.,
Buiga, A., Popescu-Cruceru, A. Ivanovic-Djukic, M., Radosavljevic, M.,
Stevanovic, T., Radjenovic, T., Talic, M. (2023) Reference book on Circular
Economy for teachers. Tsenov Academic Publishing House, 157 pages, ISBN
978-954-23-2435-5, DOI: www.doi.org/10.13140/RG.2.2.34487.91046) within
the scope of the Erasmus+ project 2022-1-
BG01-KA220-HED-000085464 “Trifold
approach to circular economy: perspectives
of academia, business and wider society” the
team of partners from four universities across
four Balkan countries has begun intensive
development on our next intellectual product,
titled “Repertory on Circular Economy for
Students”. As a result, there is our vision to
introduce the circle economy ideas among our
students. As we noted earlier the circular
economy is a viable and promising alternative
to the currently prevailing linear economic system. The fact of having a world with
finite resources involves the need to adopt a sustainable economic system where
sustainable processes must be prioritized. Therefore, in this context of finite
resources, Circular Economy seeks economic growth only if achieved in a
sustainable way by keeping resources within closed cycles as long as possible.

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In this regard, the project aimed to explore the aspects of circular economy in
details and in various aspects – students, academic staff, businesspeople and society
activists. The project will offer visualized summary brochures on the main identified
challenges. Work Package Two of the project was supported with two initial
workshops aimed at enriching the teaching on circular economy. The first workshop
focused on content development, while the second centred around piloting with
students. Simultaneously, the first workshop delved into the nature and challenges
of the circular economy, while the second workshop addressed the vital competence
set required for effective engagement in circular economy practices.
The overarching objective of the project is to elucidate the implications of
circular economy challenges and introduce solutions in an adaptable manner that
brings together students from diverse social backgrounds, with particular attention
to those who are discouraged or lagging behind their peers. This will be
accomplished through the provision of training materials and the organization of a
series of coordinated activities and collaborative workshops. The specific objectives
of the project are: investigating the components of circular economy from teachers’
perspective; examining the components of circular economy from students’
perspective; exploring circular economy challenges to business and wider society.
Work Package Three (WP3) of the project aims to develop training content for
students and assess its feasibility for future utilization within universities and for
self-learning purposes. This intellectual output endeavours to address the challenges
and introduce solutions pertaining to circular economy in an adaptable manner, with
a focus on fostering collaboration among students from diverse social backgrounds,
particularly those who may feel discouraged or fall behind their peers. WP3
specifically delves into the components of circular economy from the perspective of
students. Notably, the third workshop on the nature and challenges of circular
economy took place in Nis, Serbia, from September 21st to September 23rd, 2023.

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Work Package Three (WP3) of the project proposes training content to
students and evaluates its feasibility for further use both within universities as well
as for self-learning purposes. This intellectual output aims to present the challenges
and introduce solutions related to the circular economy in an adapted manner, with
a focus on fostering collaboration among students from diverse social categories,
particularly those who may feel discouraged or lag behind their peers. WP3 explores
the components of circular economy from students’ perspective.
In addition to the activities provided in the agenda of the third workshop, and
in line with the "green" focus of the project, a visit to the "E-Recycling" company in
Niš was organized, where the process of recycling of electrical devices, plastic and
paper was explained and demonstrated to the project participants.

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The final for the package fourth workshop on competence set vital for circular
economy was held in Istanbul, Turkyie (11-13 January 2024).

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During social programme of the fourth workshop in Istanbul, at the initiative
of the project team at "D. A. Tsenov" Academy of Economics and with the assistance
of Archimandrite of the Ecumenical Throne Charalampos Nichev, who serves the
Bulgarian-speaking Orthodox community in Constantinople, alumni of the Svishtov
Academy of Economics, a meeting with His All-Holiness Ecumenical Patriarch
Bartholomew on January 13 was organized and conducted.
The Ecumenical Patriarch blessed the visiting scholars and their Balkan
university partners involved in the CRCLEcon project. With its ecological focus, the
CRCLEcon project fully supports the initiatives of His All-Holiness Patriarch
Bartholomew to organize numerous international symposiums and seminars on
environmental issues, for which he is also known as the "Green Patriarch."
The meeting also included a visit to the renovated Iron Church "St. Stephen"
in Istanbul.

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After publishing the Repertory for Circular Economy for Students the project
workflow, will proceed with two workshops, two concluding conferences, and two
meetings of the project administration teams.
The specified dates and periods are in the months of May, June, September,
and October 2024, and includes:
First. Regarding project management and reporting the final two project
administration meetings will be held as follow: Third transnational partner meeting
on project administration (23-25.05.2024, Bucharest); Fourth transnational partner
meeting on project administration (17-19.10.2024, Nis).
Second. Within work package four “Circular Economy, Business and
Society” the last two workshops will be held as follow: Workshop 5 on main
challenges to business and society (Târgu Jiu, Romania, 9-11.05.2024); Workshop
6 on competitive advantages to business and benefits to society (Nis, Serbia, 24-
26.06.2024).

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Third. The joint final conferences will be held in Istanbul and Svishtov as
follows: First joint final conference on 20.09.2024 in Svishtov hosted by D. A.
Tsenov Academy of Economics (19-21.09.2024); Second joint final conference on
04.10.2024 in Istanbul, hosted by Istanbul Esenyurt University (03-05.10.2024).
Prof. D-r Andrey Zahariev, Project manager on behalf of
D. A. Tsenov Academy of Economics, institutional project contractor

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CHAPTER ONE. CHALLENGES OF THE CIRCULAR
ECONOMY
Introduction to chapter one
1
The first chapter of this book „Challenges of the circular economy” is focused
on the following main problem areas:
 knowledge of the general elements regarding the circular economy and the
differences from the linear economic model;
 knowledge of the specific principles of the circular economy;
 developing skills to identify and manage practical ways in which we can move
from the linear economic model of production and consumption to the circular
model;
 redesigning the value chain by adopting circular economy mechanisms and
discovering how it can contribute to making economic activities more
profitable;
 introducing circularity as an element to increase economic competitiveness;
 identifying the characteristic elements of different circular business models;
 enveloping circular behaviour, both in terms of production and consumption,
as a prerequisite for sustainable and durable economic development.
In this chapter, you will acquire knowledge and skills how to:
 knowledge of concepts specific to the circular economy and its characteristic
mechanisms;
1
Note. This chapter was written by researchers from Artifex University of Bucharest, as follows: Professor
Alexandru Lucian Manole PhD (Subchapters 1.2 and Vocabulary); Associate Professor Cătălin Deatcu PhD
(Introduction, Subchapter 1.1), Associate Professor Virginia Cucu (Subchapter 1.3), Lecturer Ghenadie
Ciobanu Phd (Subchapter 1.4) and Lecturer Veronica Vasile (Subchapter 1.5).The student training section
(Question for self - assessment) was written jointly by Professor Alexandru Lucian Manole PhD and
Associate Professor Cătălin Deatcu PhD.

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 identify the differences between the classical, linear economic model and the
circular economy model;
 manage the changes needed to move from the linear model of production to
the circular economy;
 the practical use of mechanisms and tools specific to the circular economy to
redesign the value chain and identify new profit centres that may arise from
the implementation of this new economic model;
 the use of specific circular economy tools in the work of economic operators
and non-profit organizations to ensure a sustainable increase in their
competitiveness;
 identify the particularities of circular production and consumption behaviour
and develop new ways of stimulating this type of behaviour, including all
actors (state bodies, economic agents, non-profit organisations, the
population) in the specific circuit of the green economy.
The chapter includes the following subchapters:
1.1. General overview of the topic
1.2. Changes in production and consumption patterns
1.3. Redesigning the value chain
1.4. Synchronising circularity with competitive business models
1.5. Developing circular behaviour.
1.1. General overview of the topic
The circular economy has become an increasingly debated topic nowadays, as
the whole world is becoming increasingly aware that the future of human activities
must enable sustainability and sustainability goals to be achieved. Thus, we can see
that national and international policymakers have reached a consensus, at least
relatively, on the importance of building a modern economic system based on real

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protection of the natural environment, a truly green economy, in which economic
agents are taught and stimulated to see beyond the limits of economic efficiency and
give priority to better use of resources. On the other hand, economic and non-profit
organisations, as well as a large part of the world's population, are becoming
increasingly aware of their role in building a new economic system and are starting
to give due importance to activities such as reusing, remanufacturing or recycling
goods.
The transition from an economic system based largely on the intensive use of
natural and energy resources to a "green" economy is the real challenge of the first
half of the 21st century. Humanity has reached an inflection point that could
determine its future. We can choose to continue the chaotic exploitation of the
Earth's available resources, taking on board the devastating effects that such a policy
can have, culminating in a possible situation where life on this planet could no longer
be sustainable, or we can make a swift transition to a more nature- and people-
friendly economic system, an economic system in which we place the idea that the
natural environment is our long-term partner in our journey on this planet, an
economic system in which each of us individually and all of us together work to
bring back into the economic system products or parts of products that we no longer
use and in which we are less interested in buying goods that we don't need just to be
fashionable. The shift from a culture based on self-image to one based on the
common interest of protecting the environment is certainly not an easy process to
achieve, but it is an opportunity, a chance that we all welcome in our quest to leave
our descendants a truly important legacy - a clean planet that allows them to live in
optimal conditions and carry on our civilization. So, the transition to the circular
economy is not just an economic requirement, but an opportunity we can give to
future generations.
As always when we talk about changes in human behaviour and advancement
of civilization, it is very important to understand that education plays a fundamental

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role in providing the necessary framework for this transition. The transition from an
economy that constantly "abuses" the environment to one based on environmentally
friendly technologies requires a real effort in raising awareness and educating new
generations about the particularities of this new economic and social model. We
cannot expect the younger generation to be happy if we don't work to make them
aware of the benefits the green economy can have for their future. Nor can we expect
young people to adopt the new system if we do not present them frankly and openly
with the advantages and disadvantages of this new economic model, how it works,
and how it can affect each of our lives. It is therefore time to go beyond abstract
definitions and present to young people, as frankly as possible, the perspective that
this new economic model offers.
Because of the above, education becomes a point of reference in the evolution
of the circular economy, it must act as an effective tool for the training of specialists
who have all the necessary knowledge to implement the new model, but who also
find themselves in its specific values. It is not enough to give young people
information about the green economy, it is necessary to make them believe in it,
identify with it, and see it as an opportunity for a better future for themselves and
for the generations to come.
Based on the above-mentioned elements, we wanted this chapter to be, both
by the actual elements that are analysed in it and by the way they are presented, a
tool facilitating the genuine connections between young people, as beneficiaries of
the educational process, and the specific concepts of the circular economy. The aim
of this approach is to make young people fully aware that they are the main actors
in what will prove to be a very difficult process, but one that cannot be avoided if
we want to ensure sustainable development of the world economy and protect the
environment, thus creating the conditions for a better, greener future for generations
to come. Moreover, by reading these pages, we want young people to discover the
specific realities of the circular economy and develop a series of skills and abilities

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that will help them adapt to the requirements of this new economic and social model.
The chapter concludes with a series of practical exercises designed to further
consolidate the concepts explained in these pages and to make young readers think
about the importance of the circular economy for our common future.
1.2. Changes in production and consumption patterns
The lessons learnt from recent centuries demonstrate that an economy based
almost exclusively on the intensive use of natural resources to ensure consumption
that is often chaotic is not a viable and sustainable alternative for mankind. In reality,
we are increasingly talking about the depletion of certain categories of raw materials,
environmental pollution, problems in managing huge quantities of waste, all of
which are real problems and should be solved as soon as possible. On the brink of
imminent environmental disaster, mankind must identify development solutions that
can be effective not only in economic terms but also in terms of ensuring medium
and long-term sustainability.
From the outset, it is important to identify the starting point of the transition
to a circular economy. Thus, after the first industrial revolution (1760), mankind
embarked on a continuous struggle to increase economic profitability and ensure the
highest possible returns, without paying any attention to the costs involved.
Throughout this period, a linear economic system based on the principle of
"take - make - consume - dispose" was imposed and developed worldwide (DS
Smith, 2024). Companies take raw material resources, transform them into products
or services which they then pass on to consumption, and then immediately after they
are used, they become practically waste and are thrown away. This is a very short
economic cycle, in which the path from the exploitation of natural resources to the
transformation of finished products into waste is a very fast one, far exceeding our
planet's capacity to regenerate itself.

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Figure 1-1. The linear economy model
If we were to look honestly at the implications that this economic model has
had on human society, we could see that, for almost 300 years, we have been
"madly" exploiting the natural resources of this planet, making certain categories
extinct or on the verge of extinction, and we have produced mountains of waste that
affect the quality of life all over the world, but especially in underdeveloped or
developing countries.
Global studies show that the gap between supply and demand for commodities
will reach a record 8 billion tonnes in 2030 and 29 billion tonnes in 2050 at current
rates. Our planet's natural resources cannot cope with this rate of exploitation and
there will be a real problem in managing them in the medium to long term (Bank of
America, 2022). In total, we are currently estimated to be consuming 75% more
natural resources than this planet can sustain in the long term.
Also, according to the same document, global waste generation currently
stands at around 11 billion tonnes per year, a huge amount with less than a quarter
being recycled, while around 75% is either landfilled or incinerated, resulting in a
substantial carbon footprint. In the traditional economic model, waste of various
kinds (such as plastic waste, textile waste, food waste, e-waste, or construction
waste) represents the endpoint of the product life cycle, posing significant harm to
the environment. If this endpoint of the product life cycle were not enough, it should
also be mentioned that during the transformations that occur in the production
process and during transport to the point of sale, all products or services contribute
Take Make Consume Dispose

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to the release of greenhouse gases (carbon, methane) into the atmosphere.
In this context, it is obvious that mankind is obliged to identify clear and
viable solutions to limit the consumption of natural resources and waste
management, and it is mandatory to reintroduce them into the economic circuit for
as long as possible.
In response to this challenge, the concept of the circular economy has
emerged. It is by no means a new concept, first mentioned in the seventh decade of
the last century, but it has only come to be seen as a real alternative in recent years
as the devastating environmental effects of the traditional economic model have
become increasingly evident and powerful.
In this context, it is important to know how the circular economy can be
defined, and perhaps the most eloquent definition is the one formulated by the Ellen
MacArthur Foundation, according to which "the circular economy is an umbrella
term for an economy designed to be able to regenerate itself. In a circular economy,
material flows are of two types: biological, capable of being reintegrated into the
biosphere, and technical, intended to be reused without entering the biosphere"
(Ellen MacArthur Foundation, 2024).
In other words, we could consider that the circular economy is an economic
system planned for the reuse of materials in subsequent production cycles
(Gribincea, 2021), which aims to minimize waste products and waste and better
protect the natural environment.
The circular economy can be defined as a model of production and
consumption in which a product must be used, borrowed, properly repaired as much
as possible, and at the end of its operating life, recycled. That means that products
will be utilized to their fullest extent, and when they reach true obsolescence, they
can be dismantled into parts, which helps preserve the planet's natural resources.
The circular economy has an extraordinary beneficial potential for all
categories of actors involved in its implementation. A vast portion of the population,

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as well as economic entities and non-governmental organizations, whether at local
or national levels, stand to benefit from this approach.
Figure 1-2. The circular economy model
To understand what the circular economy is and why it is a sustainable
alternative for human society, we first need to look at what its real objectives are.
Thus, the implementation of this new economic system is intended to limit the
consumption of primary natural resources, in parallel with a transition to the use of

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renewable energy and a reduction in the quantities of waste, to ensure real
environmental protection.
To achieve these goals, the life cycle of all categories of products and services
needs to be extended, with the circular economy relying on specific activities such
as recycling, reuse, repair, and remanufacturing, but also on a range of alternative
regenerative resources or innovative techniques such as regenerative design.
Repair can be defined as an operation designed to extend the life cycle of
products by addressing any deficiencies in their functionality. This is advantageous
both for the manufacturer (who reduces the cost of creating a new product) and for
the purchaser (who can save a large part of the amount that would have been spent
on a new product).
Reconditioning is a more "in-depth" repair activity aimed at restoring
products with severely impaired functionality to their optimal conditions of use. This
is a win-win situation for product buyers, who can spend less on such an operation,
and for manufacturers, who can turn this type of activity into an important source of
revenue.
Remanufacturing (reconditioning) applies to products that can no longer be
repaired or reconditioned and involves rebuilding the product by preserving its
components that are still functional and replacing all those that are severely
damaged. The advantages of this method are similar to those mentioned above and
are aimed at both manufacturers and buyers.
Reuse involves using parts of the original damaged product to make another
category of goods. The defective product becomes a source of raw materials for other
products with a completely different functionality and usefulness.
Recycling is the final option for recovering parts of products that have
completed their full life cycle and is an important source of raw materials and
materials that could be used in future economic activities.
The principles underlying the new circular economic model can be

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summarised as follows:
Figure 1-3. Principles of the circular economy
Principle 1 - Keep products and materials in use (Ellen MacArthur
Foundation, 2024).
The main benefits of the circular economy relate to the preservation of added
value through better use of material and energy resources and labour. In this respect,
there is a pressing need to ensure that products, their components, and materials
remain in circulation for as long as possible and that their life cycle can be extended
through a rigorous design and focus on durability, re-use, repair, remanufacturing,
and recycling.
Principle 2 - Elimination of waste and pollution
Implementing the green economy aims to reduce the negative effects of
productive activities on human health and the natural environment. Thus, through
its specific mechanisms, the circular economy aims to reduce the consumption of
natural resources, reduce the release of greenhouse gases and other categories of
hazardous products as waste products in production processes, and minimize air,
soil, and water pollution through a significant waste reduction.
Waste and
pollution
disposal
Regeneration and
renewal of
natural systems
Keeping
products
and
materials in
use

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Principle 3 - Regeneration and renewal of natural systems
Implementing the circular economy will lead to a reduction in the use of non-
renewable natural resources and better conservation of renewable ones. For
example, the recycling of household waste can yield nutrients with a high potential
for soil regeneration, which will provide the framework for sustainable and durable
agriculture. A similar process can be found in the use of alternative energy sources,
which have little or no impact on the environment compared to the traditional system
of using fossil fuels.
Following these specific principles of the circular economy will lead to
substantial benefits in the medium and long term, including:
 reducing pressure on natural resources by reducing unnecessary consumption;
 reducing the quantities of waste and waste products by returning them to the
productive economic circuit;
 improving the supply of raw materials by including in the production process
those materials that have been recovered in the recycling process;
 increasing the competitiveness of economic entities by identifying and
implementing new profit centres as a result of repair and remanufacturing
activities for certain product categories;
 stimulating innovation as a tool to create new, sustainable, and reusable
categories of products and services;
 stimulating sustainable economic growth by implementing new types of
businesses and redesigning global economic circuits to minimize costs and
impact on the natural environment.
1.3. Redesigning the value chain
When we talk about introducing a new economic system, we need to be able
to make a real and relevant comparative analysis of the costs and benefits it brings.
Such an approach is all the more necessary now, at the time of the transition to a

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green economy, because we are faced with the real problem of rejection of the new
concept because of the widespread belief that any process or technology that falls
into the environmentally friendly category is much more expensive and harder to
assimilate. Many managers are now reluctant to change the global economic
paradigm, believing that it is risky to move from a system that has proven its
economic viability to an entirely new mechanism with its own set of challenges.
From the point of view of economic entities, the circular economy comes with
some difficulties in terms of implementing its specific mechanisms, but also with
many significant advantages such as reducing costs (especially raw material costs)
and identifying new profit centres, all of which lead to a reduction in the risks
associated with the activities provided. By implementing the mechanisms specific
to this new economic system, economic operators also benefit from a major boost in
terms of developing research and innovation processes identifying new ways of
differentiating themselves on the market and building customer loyalty.
As part of the process of implementing the circular economy, companies need
to provide the framework for designing and realizing new categories of products and
services that are long life cycle, sustainable, modular, and recyclable. This will
certainly not be a straightforward process for the vast majority of economic entities,
but it can be seen as a key to success in the years to come. Companies that can adapt
to the demands of the new economic and social system will have the best chance of
establishing themselves on the market shortly.
Redesigning the value chain as part of the transition to the circular economy
also involves optimizing the relationships that economic entities have with suppliers
and customers. In this respect communication is a real way to ensure that the actors
involved in the various segments of this chain are aligned with the overall objectives
of ensuring sustainable and sustainable development.
And yet, in a world that turns conceptual models into monetary expressions,
it is necessary to make it clear why a firm will be interested in introducing circular

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economy mechanisms as obvious ways of making an economic profit.
Schematically, the advantages that a company can have by implementing the new
economic model can be presented as follows:
 economic entities that opt for this type of business model have a real
opportunity to reduce production costs by using recycled raw materials and
materials, the cost of which is substantially reduced compared to their
traditional variant;
 organizations adopting the circular economy model will be those that develop
their research and innovation capabilities, which will allow them to increase
their profits as a result of marketing new, innovative products that will
differentiate them from existing traditional competitors;
 through repair, refurbishment, remanufacturing, re-use or recycling activities,
circular economic operators have the opportunity to earn significant amounts
of money, turning these activities into profit centres;
 reducing landfill costs is a feasible way to minimize costs and increase
profitability.
Based on all the elements mentioned above, we can show what a functioning
circular economy model could look like, ensuring an increase in the economic
potential of companies and a minimization of environmental impact (See Fig. 1-4).
Last but not least, the main opportunities that the circular economy brings to
the global economic and social system should be mentioned. These can be
summarised as follows (Andronova-Cincelette, Liverani, & Behrens, 2023):
 the circular economy can achieve the twin goals of achieving sustainable
growth and creating more jobs;
 the green agenda must ensure youth involvement and jobs for young people;
 including jobs in the circular agenda can highlight opportunities to reduce
existing inequalities while addressing unintended welfare risks;

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 circular economy initiatives should take into account the impact on
developing countries.
Figure 1-4. The circular economy value chain
1.4. Synchronising circularity with competitive business models
The introduction of the circular economy on a large global scale can be seen
as the fourth major industrial revolution and will lead to the emergence and
development of new categories of economic entities based on circularity and
sustainability. At the same time, business models specific to the circular economy
are the key to extending the lifespan of many national and multinational companies,
the only condition being that they align with the requirements of the new system.
In the new economic and social context of today's world, organizations need
to adjust their business models to integrate the principles of circularity into all

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components of the supply and distribution chain. Based on these new realities,
companies have the opportunity to maximize the benefits of products and services
marketed by extending their life cycle, followed by recovery and regeneration after
the end of the cycle.
In practice, moving from the linear to the circular model of production implies
implementing sustainable business strategies (Economic Research Institute, 2022),
in which category the following can be included:
Figure 1-5. Sustainable business strategies
When analysed from the producers' point of view, the value of goods and
services can be retained as long as they can be used within optimal parameters and/or
they can be reused over several life cycles. From an organisational point of view,
maintaining the value of a product and service at a high value for a longer period is
a real challenge and involves major changes at managerial, organisational, political,
and, not least, individual and collective levels. It also requires increased high-level
coordination along the entire value chain of circular products and services traded.
All these elements are sources of expense for companies starting the transition to the
circular economy, but they are also real opportunities as the adaptation process is
completed.
Preventing pollution and saving resources
Waste recycling
Optimizing
Increasing resource use
Transition to circular sourcing and design

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For consumers, circular businesses, through circular products and services,
are an optimal solution to satisfy personal needs, offering a new kind of experience
and individual satisfaction over an extended period of use. As long as the actual
functionality of the product is not affected, the consumer will certainly be satisfied
that they can use it for a longer period without incurring unwanted additional costs.
Considering the above, it is obvious that a circular business model is an
opportunity for contemporary economic entities and a sustainable source of supply
for today's consumers. It is thus necessary to establish what is conceptually a circular
business model. In this sense, we can use the definitions formulated by Bas Mentink
(Bas Mentink, 2014), on the one hand, and Marcus Linder and Mats Williander
(Marcus Linder; Mars Williander, 2015), on the other hand:
 "The circular business model is the rationale for how an organization creates,
delivers and captures value with and in closed material loops" (Bas Mentink);
 "The circular business model is a business model in which the conceptual
rationale for value creation is based on using the economic value retained in
products after use to produce new offerings" (Marcus Linder; Mars
Williander).
The transition from classical to circular economic models requires major
organizational changes in all its components, thus (Institute for Economic Research,
2022):
 In terms of the value creation component, moving to the circular model
requires that products are made in specific processes, with recycled materials
and special resources. To this end, companies need to create production
capacities specific to the circular economy, set up appropriate logistics
systems, and prioritize communication and maintenance of relationships with
customers and business partners;
 in the valorization component, circular products must have the necessary
characteristics so that they can be reused or recycled;

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 the value proposition component implies that the sale of circular products or
services should aim at changing the behaviour of customers by encouraging
them to adopt circular consumption behaviour or, in extreme cases, even
changing traditional customers to ones that have already aligned with
circularity standards;
 in the value capture component, economic entities have the option to choose
to market those products or services that are charged according to their use.
Regarding the typology of circular business models, we can note that in the
literature there are several delimitations and classifications. In this chapter, we will
refer to two of them, namely those set out by the Forum of the Future and the
Organisation for Economic Co-operation and Development (OECD).
Thus, according to the "Circular Business Models" report produced by the
Forum of the Future project (Forum of the Future, 2020), ten circular business
models are mentioned, as follows:
 loop recycling model - involves using waste as raw material to create new
products;
 the product-to-service model;
 the product and service customization model;
 the downcycling model - assumes that the value of the recycled product is
less than the value of the original product;
 the upcycling model - assumes that the value of the recycled product is higher
than the value of the original product;
 consumer loyalty model - involves encouraging repeat use of a product or
service;
 modular design model - involves creating products from smaller parts, called
models, so that it is possible to replace a single module, rather than the whole
product, if necessary;

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 the industrial symbiosis model - involves the sharing of services, utilities, and
secondary resources between different economic entities to ensure a
significant reduction in consumption;
 the local production model - involves reorienting the production process
according to availability in the regional supply chain;
 waste collection model.
If we look at the classification proposed by the Organisation for Economic
Co-operation and Development (Organisation for Economic Co-operation and
Development, 2020), we can identify five major types of circular business as
follows:
 Resource recovery model;
 Circular suppliers / circular supplies models;
 Product life extension model;
 Sharing platform/Sharing Economy model;
 Products as a service model.
In practice, the most successful circular business models are considered to be
(Economic Research Institute, 2022):
 The circular suppliers/circular supplies model involves replacing traditional
raw materials, especially rare ones, with renewable, recyclable, or
biodegradable variants. Underpinning this business model is a specific
philosophy called 'Cradle to Cradle' (C2C).
 The industrial symbiosis model involves the association of economic entities
to share utilities and certain categories of resources. A more special model can
be included in this category of models, i.e. one based on the principle of
interlinkage, where waste from one company's activity becomes, in practice,
raw material for another economic entity.
 The circular business model based on resource recovery involves the recovery
of secondary raw materials used in the waste activity and waste processing.

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 The circular business model based on product lifecycle extension involves