The Circular Economy as a Driver for Sustainable Business Development and the Role of ICT

Abstract

The general objective of this research is to analyze the current impact of the circular economy on sustainability and the role that companies anticipate that ICT can have in this process. The research methodology is based on the critical analysis of specialized literature, the interpretation of statistical data and econometric modeling. The econometric analysis used to estimate the relationship between the circular economy and sustainability was carried out using the Netherlands as a reference, since the latest statistical data indicate that this country has the highest circular material use rate. The main results show, first of all, the fact that currently the circular economy does not have a considerable impact on the stimulation of sustainability, and secondly, the vision of companies from EU Member Countries, who have high expectations regarding the positive impact of ICT in boosting the business sustainability and circular material use rate. At the same time, we propose a Quintuple Helix approach for the fulfillment of sustainability objectives and for the transition to the circular economy. The article also may be a contribution to the state of knowledge in the field, especially by highlighting certain limits of the circular economy in enhancing sustainability. Our study may have possible practical implications, especially for companies that do not adopt an organizational culture based on sustainability.