Underpinning Sustainability Paradigms: Circular Economy and Enhanced Triple Bottom Line

Minić, Aleksandra and Filipović, Sanja (2023) Underpinning Sustainability Paradigms: Circular Economy and Enhanced Triple Bottom Line. In: FINIZ 2023: Sustainable Development as a Measure of Modern Business Success. Univerzitet Singidunum, Beograd, pp. 66-73. ISBN 978-86-7912-823-2

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Abstract

Whilst stakeholders and policy makers in industry and academia increasingly use circular and sustainable, the terms are not clearly understood. Furthermore, the need for a switch from a current economic model (linear) to the circular one has been recognized globally by the major decisionmakers. The shift from one mechanism to another has presented challenges in grasping the Circular Economy (CE) and Sustainability (S) principles: defining them, understanding the similarities and differences, and successfully applying them using Triple Bottom Line (TBL) approach. Employing systematic literature review, the aim of this paper is to clarify the ambiguities and add to clarity by exploring the concepts and the relationship of CE and S by applying TBL framework – social, economic and environmental variables. The gaps regarding relations to people and profit contribution are identified in the literature, future research priorities and new frameworks are recommended.

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