| Title | Macroeconomic and environmental impacts of circular economy innovation policy |
|---|---|
| ID_Doc | 431 |
| Authors | Boonman, H; Verstraten, P; van der Weijde, AH |
| Title | Macroeconomic and environmental impacts of circular economy innovation policy |
| Year | 2023 |
| Published | |
| Abstract | In this paper, we quantify the macroeconomic and environmental impacts of an innovation-driven shift towards a circular economy, with specific emphasis on distribution impacts across regions and sectors. In contrast to most of the existing literature, we use a very wide range of circular economy objectives, taken from recently published Circular Economy Strategic Research Agenda, developed for the European Commission. We first quantify the qualitative objectives, and then use a multi-region Computable General Equilibrium model to estimate economic and environmental impacts of the entire agenda and its sub-components. We show that although many elements of a circular future have strong positive economic and environmental effects, only a wide-ranging portfolio of measures can address a wide range of pollutants. We also show that a shift to a circular economy can have large distributional effects, geographically but especially between individual sectors. This demonstrates that cir-cular economy policy is unlikely to be feasible and socially accepted without the support of complementary re -distributional policies. (c) 2022 Institution of Chemical Engineers. Published by Elsevier Ltd. All rights reserved. |
| https://doi.org/10.1016/j.spc.2022.10.025 |
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