Published Online: June 03, 2021
Author Details
( * ) denotes Corresponding author
Over the last 50 years, there is a colossal climb in the world’s population and economic growth which is an indication of persistent demand for natural resources to uplift the standard of living of millions of people. The ongoing linear economic model is driven by “take, make, use and dispose” of resources is increasing gap in demand and supply curve of natural resources and waste assimilation challenges which leads to loss of biodiversity. The current scenario requires a closed economy, which is a restorative and zero-waste economic model in which resources are used to the highest utility. The paper attempts to understand the need, origin, concept and the business models of circular economy. The study analysis the relevance of circular economy initiatives to achieve sustainable development goals. Finally, explores the circularity initiatives taken by different countries with special reference to India to achieve resource efficiency and waste minimisation.
Keywords
Linear economy; Circular economy; Resource efficiency; Waste management; Sustainable development goals; India.