Measuring economic crises impact transitioning to a circular economy

Increasing global concern about climate change and the circular economy have successfully established itselves in international and national policies over the last decade, with the aim of reshaping the production and consumer behavior. The circular economy is one of the core pillars of European Unio...

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Bibliographic Details
Published in:Environment, development and sustainability development and sustainability, 2023-05, Vol.26 (7), p.17849-17873
Main Authors: Feiferytė-Skirienė, Akvilė, Stasiškienė, Žaneta
Format: Article
Language:English
Subjects:
Circular economy
Climate change
Consumer behavior
COVID-19
Data analysis
Earth and Environmental Science
Ecology
Economic crisis
Economic Geology
Economic Growth
Economics
Employment
Energy costs
Energy efficiency
Environment
Environmental degradation
Environmental Economics
Environmental impact
Environmental Management
Environmental policy
Global economy
International finance
Policies
Pollution
Pollution control
Production costs
Sustainability
Sustainability transitions
Sustainable Development
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Summary:Increasing global concern about climate change and the circular economy have successfully established itselves in international and national policies over the last decade, with the aim of reshaping the production and consumer behavior. The circular economy is one of the core pillars of European Union policy and its success depends on the energy efficiency, reducing production costs, and maintaining employment levels by ensuring continuous strong economic independency of the region. While crises are unavoidable and continue to appear, this paper aims to project the impact of any crisis on sustainability transitions using data analysis of the Global Financial crisis from 2008 to 2009 and discuss how the success of the circular economy implementation and environmental policies could be affected. The paper notes that the global financial crisis of 2008–2009 had a short-term positive impact on environmental degradation and that economic interests overshadowed environmental goals. Due to the recent events of the ongoing Russia and Ukraine war, COVID-19 societal and industrial behavior has shifted from sustainable to linear and has taken a step backward in reducing environmental pollution and achieving Sustainable Development Goals. Analysis of already present data and the context of the 2008–2009 global financial crisis, reviewing of COVID-19 impact on the global economy, health sector, and environmental policies allows us to predict the consequences, as it relates to the future of circular economy policy.
ISSN:1573-2975
1387-585X
1573-2975
DOI:10.1007/s10668-023-03367-x