Innovative Circular Economy as a Mechanism for Transforming Industrial Waste into Sustainable Business Models - a Review of International Experiences

Abstract

This study aims to analyse the role of the innovative circular economy as a mechanism for transforming industrial waste into sustainable business models. The results indicate that this successful transformation requires integrated innovation in design, processes, business models, and supporting policies. It also showed that the mechanisms of technical transformation range from direct processing, advanced technologies, and systemic integration through industrial solidarity. Comparative analysis showed that the effectiveness of circular models is related to the extent to which they are compatible with the local institutional and economic context of each country. Finally, it emphasizes the study examines the need for a supportive policy and financing framework, and human capacity building, to enable this strategic shift towards a more sustainable and resilient economy.