The assessment of circular economy in the context of sustainable well-being

Abstract

The concept of Circular Economy (CE) is alternative to linear economy, which focuses on sustainability. The current industrial and business model does not include the global environmental challenges. Business could be one of the most significant participants to change this situation. The circular economy focuses on resource efficiency, “no waste” approach, social factors and promotes the co-existing of green economy together with environmental wealth. Circular economy leads to sustainable well-being based on the synergy of environmental, economic and social dimensions. The dissertation analyses the aspects of circular economy based on environmental, economic and social dimensions and proposes the assessment model of circular economy in the context of sustainable well-being. The object of dissertation is circular economy of the country in the context of sustainable well-being. The literature analysis of circular economy was performed, which formed the approach of circular economy and its connection to sustainable development formulating the assessment model of circular economy, which analyses the dimensions of circular economy in the context of sustainable well-being. The assessment model of circular economy is designed to evaluate the development of circular economy in the selected country or region. Moreover, the proposed model would allow to evaluate the dimensions of circular economy in the selected geographical area over the time to identify the problems of the sustainable development of circular economy. The dissertation aims to analyse the theoretical approaches that form the approach of circular economy for the formulation of the assessment model of circular economy in the context of sustainable well-being that would be empirically tested on Baltic sea region. The research work resolves following key tasks: to conduct a theoretical analysis of circular economy and form the approach based on the coherence of economic, environmental and social dimensions; to determine the concept of circular economy indicator’s selection and based on it to select circular economy indicators in the context of well-being; to propose a selection system of circular economy indicators which will be used in assessment of circular economy; to develop the model for accessing circular economy in the context of well-being; based on the developed model of circular economy assessment empirically evaluate the development of circular economy in the context of sustainable well-being. The dissertation consists of an introduction, three chapters and general conclusions.