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The Economics of Recycling: A Review Compiled with Tax and Subsidiary, Implication for Government, Decision-Makers, Enterprises, Community, and Analysis Cost/Benefit and Market

Saheed Oluwaseun Lawal(1),


(1) Al-Hikmah University
Corresponding Author

Abstract


This study thoroughly examines the economic consequences linked to circular economy approaches, with a particular emphasis on recycling. This study compiles major discoveries on the financial impact of adopting circular economy tactics. The results emphasize the possibility of recycling to produce substantial cost reductions for companies. Companies can improve financial performance and competitiveness by enhancing resource efficiency and utilizing strategies like product reuse, repair, and remanufacturing, which can help stimulate the growth of new industries and support the generation of jobs in the recycling and circular supply chain fields. Circular economy approaches also lead to beneficial environmental results such as waste minimization, reduced emissions of greenhouse gases, and the preservation of natural resources. The cost savings from waste management, pollution control, and environmental regulation compliance can result from environmental benefits. Transitioning to a circular economy may involve upfront costs and hurdles to overcome, but the long-term economic rewards, resource effectiveness, and sustainability benefits of the circular economy approach make them very beneficial for both businesses and economies overall. 

Keywords


Circular economy; Environment; Recycling; Sustainability; Waste

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