Toward a circular economy that works for all: accounting for the regional conditions of emerging markets

The circular economy (CE) has been gaining traction as a solution capable of decoupling resource consumption from economic growth. Although the concept is gaining popularity, many questions remain regarding its conceptualization and practical implementation, particularly in emerging economies. The present dissertation aims to address the following objectives: 1) Shed further light on the barriers and enablers SMEs and large companies face when implementing CE initiatives in emerging economies; 2) Explore the mechanisms used by SMEs and large companies to leverage the implementation of CE initiatives through bottom-up approaches; 3) Understand the consequences of weaker CE visions gaining prominence and dominance and their increased risk of creating unintended consequences, particularly in non-developed economies; 4) Propose a solution for redesigning CE to achieve social equity using a system-thinking approach. The first paper aims to determine the internal and external barriers SMEs face when implementing CE initiatives in emerging economies. The study found that the lack of regional enabling conditions and the unsuitability between the CE business strategy and the context can further exacerbate implementation barriers. In contrast, successful initiatives adopted strategies incorporating contextual attributes into their business models. The second paper extended the research into large companies. Our results showed that while some companies adapted their business models to the contextual conditions, other companies were more proactive, trying to shape their surroundings through lobbying practices. Furthermore, although some advocacy practices could accelerate the agenda for CE at a national level, results indicate that, in the case of the studied companies, lobbying can be overused to favor their private interest, risking stagnating a truly holistic CE agenda. Finally, the third paper explores the implications of the rise and predominance of weaker visions of the CE and its risk of adversely affecting society—particularly in non-developed economies. The paper finishes the critique by proposing a solution for redesigning CE to achieve social equity using a systems thinking approach by adapting the principles of the CE and the methodology of the SWIT (Sustainable Wealth creation based on Innovation and Technology) framework.