“Assessment of circular economy strategies for climate change mitigation”: A forecast on India's path to a net zero future

Abstract

The escalating global challenge of climate change necessitates the adoption of sustainable strategies, particularly those aligned with circular economy (CE) principles. This study examines the role of CE strategies in mitigating climate change, with a specific focus on India—a major contributor to greenhouse gas emissions. Grounded in the principles of sustainable development and the carbon reduction targets outlined in the Paris Agreement, this research investigates how CE strategies can support India's climate change mitigation efforts. Additionally, it explores the influence of global corporate strategies in shaping India's approach to sustainability. A comprehensive literature review and expert consultations were conducted to identify and prioritize relevant CE strategies using the Best Worst Method (BWM). The Interpretive Structural Modeling (ISM) technique was then applied to analyze the interdependencies among these strategies. The findings of this study inform that a shift away from technical outputs toward biological ones through the use of biologically-based materials and processes (SOC3), altering production methods to produce less trash (SOC2), conserving resources (RIR4), and changes made to replace non-renewable resources with renewable ones (RIR3) have stood out as important ways to deal with climate challenges and help get to net-zero emissions. The study offers significant managerial, practical, and social implications, particularly for policymakers, industry leaders, and stakeholders seeking to integrate CE strategies into organizational and governmental frameworks. Given India's ambitious net-zero target by 2070, the prioritization and systematic implementation of CE strategies are imperative for fostering long-term sustainability and economic resilience.