Regulatory Barriers Impacting Circular Economy Development
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DOI:
https://doi.org/10.59022/ijmf.29Keywords:
Regulatory barriers, Circular economy, Circular Development, Circular Policy, Circular SustainabilityAbstract
Circular economy is an economic system in which resources are kept in use for as long as possible, minimizing waste and pollution. The negative impact of current government regulations on the growth of the circular economy and offers recommendations for policy changes to support its development. The article examines the role of government regulations in shaping the growth of the circular economy. It explores the challenges posed by current regulations and identifies the ways in which they hinder the transition to a more sustainable, closed-loop system. This study demonstrates the potential benefits of supportive regulations and provides recommendations for policymakers to better facilitate the development of the circular economy. The article concludes by emphasizing the critical role of government in enabling the transition to a circular economy and the need for proactive policies to support its growth. It underlines the role of government in promoting a circular economy and the need for proactive policies.
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