Eco-innovation as a pillar for sustainable development of circular economy
Abstract
Circular economy (CE) is based on environmental, economic and social dimensions which aim to ensure sustainable development on each step of product creation, transformation and conversion by creating a closed-loop economy. The purpose of the article is to propose a concept of measurement the development of eco-innovations in the context of circular economy, apply and provide empirical evidence based on the data of Baltic Sea Region countries. The study augmented for the models that include the analysis of the circular economy concept, the importance of eco-innovation in the context of circular economy including the accent on recycling, circular material usage, material efficiency and waste management. The multi-criteria decision methods MULTIMOORA and TOPSIS were used to assess the eco-innovation as a pillar of circular economy. Results are useful to add to theoretical building and also evaluate the socio-economic aspect in the concept of circular economy.
Keyword : circular economy, sustainable development, eco-innovation, MULTIMOORA, TOPSIS
How to Cite
Stankevičienė, J., & Nikanorova, M. (2020). Eco-innovation as a pillar for sustainable development of circular economy. Business: Theory and Practice, 21(2), 531-544. https://doi.org/10.3846/btp.2020.12963
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Siksnelyte, I., Zavadskas, E. K., Bausys, R., & Streimikiene, D. (2019). Implementation of EU energy policy priorities in the Baltic Sea Region countries: Sustainability assessment based on neutrosophic MULTIMOORA method. Energy Policy, 125, 90–102. https://doi.org/10.1016/j.enpol.2018.10.013
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Tiwari, V., Jain, P. K., & Tandon, P. (2019). An integrated Shannon entropy and TOPSIS for product design concept evaluation based on bijective soft set. Journal of Intelligent Manufacturing, 30, 1645–1658. https://doi.org/10.1007/s10845-017-1346-y
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Ture, H., Dogan, S., & Kocak, D. (2019). Assessing EURO 2020 Strategy Using Multicriteria Decision Making Methods: VIKOR and TOPSIS. Social Indicators Research, 142, 645–665. https://doi.org/10.1007/s11205-018-1938-8
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WCED. (1987). Report of the World Commission on Environment and Development: Our Common Future. Oxford University Press, 43.
Zavadskas, E. K., Mardani, A., Turskis, Z., Jusoh, A., & MD Nor, K. (2016). Development of TOPSIS method to solve complicated decision-making problems: an overview on developments from 2000 to 2015. International Journal of Information Technology & Decision Making, 15, 1–37. https://doi.org/10.1142/S0219622016300019
Brauers, W. K. M., & Zavadskas E. K. (2012). Robustness of MULTIMOORA: a method for multi-objective optimization. Informatica, 23, 1–25. https://doi.org/10.15388/Informatica.2012.346
Busu, C., & Busu, M. (2018). Modelling the Circular Economy Processes at the EU level using an evaluation algorithm based on Shannon entropy. Processes, 6(11), 225. https://doi.org/10.3390/pr6110225
Byun, H. S., & Lee, K. H. (2005). A decision support system for the selection of a rapid prototyping process using the modified TOPSIS method. International Journal of Advanced Manufacturing Technology, 26, 1338–1347. https://doi.org/10.1007/s00170-004-2099-2
De Almeida, S. T., & Borsato, M. (2019). Assessing the efficiency of end of life technology in waste treatment – a bibliometric literature review. Resources Conservation and Recycling, 140, 189–208. https://doi.org/10.1016/j.resconrec.2018.09.020
Dong, L., Gu, X., & Wu, X. (2019). An improved MULTIMOORA method with combined weights and its application in assessing the innovative ability of universities. Expert Systems 36(2), e12362. https://doi.org/10.1111/exsy.12362
European Commission. (2010). Strategy “EUROPE 2020”. https://ec.europa.eu/eu2020/pdf/COMPLET%20EN%20BARROSO%20%20%20007%20-%20Europe%202020%20-%20EN%20version.pdf
European Commission. (2013). Environment Action Programme. https://ec.europa.eu/environment/action-programme/
European Commission. (2015). Circular Economy Action Plan. https://ec.europa.eu/environment/circular-economy/
European Commission. (2017). European Union Strategy for the Baltic Sea Region. Action plan. https://www.balticsea-region-strategy.eu/action-plan/17-action-plan-2015/download
European Commission. (2018). Programme “Innovation Union”. https://ec.europa.eu/info/research-and-innovation/strategy/goals-research-and-innovation-policy/innovation-union_lt
European Commission. (2019a). A long-term strategy for a European Circular Economy – setting the course for success. https://circulareconomy.europa.eu/platform/en/knowledge/long-term-strategy-european-circular-economy-setting-course-success
European Commission. (2019b). Report on the Implementation of the Circular Economy Action Plan (Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions). https://eurlex.europa.eu/legalcontent/EN/TXT/?uri=CELEX%3A52019DC0190
European Commission. (2020). Eco-Innovation Index. https://ec.europa.eu/environment/ecoap/indicators/index_en
European Environment Agency. (2018). Programme “Innovation Union”. https://www.eea.europa.eu/policy-documents/a-resource-efficient-europe
Eurostat. (2020). Sustainable development indicators. https://ec.europa.eu/eurostat/web/sdi/indicators
Fedajev, A., Stanujkic, D., Karabasevic, D., Brauers, W. K. M., & Zavadskas, E. K. (2020). Assessment of progress towards “Europe 2020” strategy targets by using the MULTIMOORA method and the Shannon Entropy Index. Journal of Cleaner Production, 244, 118895. https://doi.org/10.1016/j.jclepro.2019.118895
Grigoryan, A. A., & Borodavkina, N. Y. (2017). The Baltics on their way towards a circular economy. Baltic Region, 9(3), 4–14. https://doi.org/10.5922/2079-8555-2017-3-1
High-Level Political Forum On Sustainable Development. (2012). 10-Year Framework of Programmes on Sustainable Consumption and Production Patterns. https://sustainabledevelopment.un.org/content/documents/1444HLPF_10YFP2.pdf
Hroncova Vicianova, J., Jaďuďová, J., Hronec, M., & Rolíková, S. (2017). Developing eco-innovation in business practice in Slovakia. Journal of Business Economics and Management, 18(5), 1042–1061. https://doi.org/10.3846/16111699.2017.1381146
Koulinas, G. K., Demesouka, O. E., Marhavilas, P. K., Vavatsikos A. P., & Koulouriotis, D. E. (2019). Risk assessment using Fuzzy TOPSIS and PRAT for sustainable engineering projects. Sustainability, 11(3), 615. https://doi.org/10.3390/su11030615
Lahti, T., Wincent, J., & Parida, V. (2018). A definition and theoretical review of the circular economy, value creation, and sustainable business models: where are we now and where should research move in the future? Sustainability, 10, 2799. https://doi.org/10.3390/su10082799
Liu, H., Zhao, H., You, X., & Zhou, W. (2019a). Robot evaluation and selection using the Hesitant Fuzzy Linguistic MULTI-MOORA method. Journal of Testing and Evaluation, 47(2), 1405–1426. https://doi.org/10.1520/JTE20170094
Liu, X., Zhou, X., Zhu, B., He, K., & Wang, P. (2019b). Measuring the maturity of carbon market in China: an entropy-based TOPSIS approach. Journal of Cleaner Production, 229, 94–103. https://doi.org/10.1016/j.jclepro.2019.04.380
Makara, A., Smol, M., Kulczycka, J., & Kowalski, Z. (2016). Technological, environmental and economic assessment of sodium tripolyphosphate production–a case study. Journal of Clean Production, 133, 243–251. https://doi.org/10.1016/j.jclepro.2016.05.096
Measuring. (2018). Measuring progress towards circular economy in the European Union – Key indicators for a monitoring framework. http://ec.europa.eu/environment/circular-econo-my/pdf/monitoringframework_staff-working-document.pdf
Omrani, H., Alizadeh, A., & Amini, M. (2020). A new approach based on BWM and MULTIMOORA methods for calculating semi-human development index: An application for provinces of Iran. Socio-Economic Planning Sciences, 70. https://doi.org/10.1016/j.seps.2019.02.004
Organization for Economic Co-Operation and Development (OECD). (2020). Green growth indicators. http://stats.oecd.org/Index.aspx?DataSetCode=GREEN_GROWTH#
Prieto-Sandoval, V., Jaca, C., & Ormazabal, M. (2018). Towards a consensus on the Circular Economy. Journal of Clean Production, 179, 605–615. https://doi.org/10.1016/j.jclepro.2017.12.224
Saraiva, A. B., Souza, R. G., Mahler C. F., & Valle, R. A. B. (2018). Consequentiale life-cycle modelling of solid waste management systems – Reviewing choices and exploring their consequences. Journal of Clean Production, 202, 488–496. https://doi.org/10.1016/j.jclepro.2018.08.038
Shafique, M., Asghar, M., & Rahman, H. (2017). The impact of green supply chain management practices on performance: Moderating role of institutional pressure with mediating effect of green innovation. Business, Management and Education, 15(1), 91–108. https://doi.org/10.3846/bme.2017.354
Siksnelyte, I., Zavadskas, E. K., Bausys, R., & Streimikiene, D. (2019). Implementation of EU energy policy priorities in the Baltic Sea Region countries: Sustainability assessment based on neutrosophic MULTIMOORA method. Energy Policy, 125, 90–102. https://doi.org/10.1016/j.enpol.2018.10.013
Solangi, Y. A., Tan, Q., Mirjat, N. H., & Ali, S. (2019). Evaluating the strategies for sustainable energy planning in Pakistan: An integrated SWOT-AHP and Fuzzy-TOPSIS approach. Journal of Cleaner Production, 236. https://doi.org/10.1016/j.jclepro.2019.117655
Stanujkic, D., Karabasevic, D., Zavadskas, E. K., Smarandache, F., & Brauers, W. K. (2019). A bipolar fuzzy extension of the MULTIMOORA method. Informatica, 30(1), 135–152. https://doi.org/10.15388/Informatica.2019.201
Strantzali, E., & Aravossis, K. (2016). Decision making in renewable energy investments: a review. Renewable and Sustainable Energy reviews, 55, 885–989. https://doi.org/10.1016/j.rser.2015.11.021
Tiwari, V., Jain, P. K., & Tandon, P. (2019). An integrated Shannon entropy and TOPSIS for product design concept evaluation based on bijective soft set. Journal of Intelligent Manufacturing, 30, 1645–1658. https://doi.org/10.1007/s10845-017-1346-y
Tseng, M. L., Wong, W. P., & Soh, K. L. (2018). An overview of the substance of resource, conservation and recycling. Resources Conservation and Recycling, 136, 367–375. https://doi.org/10.1016/j.resconrec.2018.05.010
Ture, H., Dogan, S., & Kocak, D. (2019). Assessing EURO 2020 Strategy Using Multicriteria Decision Making Methods: VIKOR and TOPSIS. Social Indicators Research, 142, 645–665. https://doi.org/10.1007/s11205-018-1938-8
UN. (2015). UN Agenda for Sustainable Development. https://sustainabledevelopment.un.org/post2015/transformingourworld
Wang, M., Zhao, X., Gong, Q., & Ji, Z. (2019). Measurement of Regional Green Economy sustainable development ability based on Entropy Weight-Topsis-Coupling Coordination Degree – A case study in Shandong Province, China. Sustainability, 11(1), 280. https://doi.org/10.3390/su11010280
WCED. (1987). Report of the World Commission on Environment and Development: Our Common Future. Oxford University Press, 43.
Zavadskas, E. K., Mardani, A., Turskis, Z., Jusoh, A., & MD Nor, K. (2016). Development of TOPSIS method to solve complicated decision-making problems: an overview on developments from 2000 to 2015. International Journal of Information Technology & Decision Making, 15, 1–37. https://doi.org/10.1142/S0219622016300019