REthinking Sustainable Development in European Regions by Using Circular Economy Business ModelS

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In essence, Circular Economy (CE) is about moving from an unsustainable linear system of materials usage and waste production to a one of regeneration of resources. CE has lately developed into a rapidly progressing and competitive field of business and innovation. CE business models can be seen as tools in reducing waste, generating resource efficiency improvements and lessening the environmental impacts of industrial production and creating social sustainability. However it's still often unclear what type of negative environmental and economic impacts CE business models may bring about. In the REDUCES project, the potential environmental impacts of CE business models are mapped and tools discovered for regions to not only promote the business models most suitable for their regional contexts, but also to assess the potential environmental impacts they may entail. The tools will be reviewed and evaluated by the partners & stakeholders during the projects, focusing on the previously recognised most important categories of CE business models. In order to make informed policy decisions about both economically and environmentally most viable business models, their impacts need to be thoroughly assessed. There is a growing need for a more comprehensive understanding of regional and local aspects of the transition towards a CE and of recognizing the most promising sectors for sustainable smart specialisation. REDUCES forms a cooperation network of regions that are on different levels of CE development and have a strong shared will on further supporting their region's businesses in transitioning to a CE. The exchange of experiences and knowledge within and between the regional authorities is key in developing the best action plans to support environmentally sustainable business models for each region and policy. REDUCES results in best practices and policy recommendations which will significantly benefit public authorities and institutions in supporting CE transition.

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