Towards a Circular Plastics Economy
In his PhD research, Fernando Lit shows how companies can develop circular business models to promote sustainability and achieve a circular economy
On February 6, PhD researcher Fernando Lit of the defended his research 鈥淭oward a Circular Plastics Economy: The Potential and Limits of Circular Business Models.鈥� The research shows how companies can adopt and implement circular business models (CBMs) to promote sustainability.
Circular Business Models
Circular business models are based on strategies that help companies eliminate waste and preserve the value of materials. Examples include Product-as-a-Service (PaaS), where companies offer products as services, such as rental or leasing, rather than sales. Remanufacturing is another example, where products are taken back, repaired and resold. Recycling also plays an important role, in which materials are reused to make new products. By adopting CBMs, companies can help make the circular economy a reality.
Lit's research
Lit's research shows that different kinds of companies (e.g. start-ups and large companies) play a role in the transition to a circular economy. Start-ups act as agile innovation engines, while large companies help implement CBMs at a larger scale. His work also highlights the importance of collaboration among businesses, consumers and institutions to accelerate the circular revolution. In developing these CBMs, a social justice lens can be very useful because it helps companies have a clearer understanding of their sustainability impact.
Fernando Lit defended his thesis on February 6. Title of the PhD thesis: 鈥�. Supervisors: , (UGent) and Boukje Huijben.