Sustainability

As environmental challenges such as climate change and resource scarcity intensify, with Earth Overshoot Day highlighting overconsumption, the circular economy emerges as a crucial solution. Legislation at the national and EU level obliges companies to become more sustainable. Simultaneously, the circular economy strengthens economic resilience, promotes innovation and creates competitive advantages. However, the impact on the labor market is controversial, as fewer primary resources and new products are needed. Sustainable corporate management requires a balanced consideration of the triple bottom line: Planet, People, and Profit, treating each as equally important. In contrast to the linear economy, the circular economy follows the ‘cradle to cradle’ principle and integrates the ten R-Strategies of sustainability. These strategies range from refuse (avoidance) and reduce (reduction) to recycling and repurpose (reuse). Companies should identify which strategies can be swiftly ...

Over the past decades, circular economy has established itself as an important strategy for tackling sustainability challenges. Its holistic approach aims to use resources efficiently and minimize waste. This article aims to identify and evaluate the numerous challenges connected to the successful implementation and expansion of the circular economy approach. Economic, technological, social and political aspects are examined to provide a comprehensive insight into the complexity of the strategy and its implementation. The article concludes that a successful circular economy can only be achieved through the coordinated cooperation of different stakeholders and the development of innovative solutions to the identified challenges.