Framework for Circular Economy Industrial Cluster Ecosystems to.pptx

he Circular Economy Industrial Cluster Ecosystem is a sustainable framework that promotes resource efficiency, waste reduction, and industrial symbiosis among interconnected industries. It focuses on closed-loop production systems, where waste from one industry serves as raw material for another, minimizing environmental impact

1. Framework for Circular Economy Industrial Cluster Ecosystems to Evaluate the Sustainability of ESG Performance By sandhya singh Research Scholar GLA university Mathura

2. Inefficient production and consumption practices lead to resource depletion and rising environmental catastrophes; these issues have become especially concerning in recent years for many people in worldwide countries. The solutions to these issues have been put in place by various nations. A number of carefully thought-out strategic initiatives, including "goals" and "sustainable development" These strategies acknowledge and strengthen the ESG's (Environment, Social, and Governance) awareness, influence, measures, and signals that support a company's success in terms of governance.

3. 3. The global circularity should be increased from 8.6% to 17% in order to maintain the viability and prosperity of our planet for present and future generations. As a result, there is still more work to be done globally to fully utilize the circular economy 4. Our paper defines the circular economy as a theoretical framework that describes the shift to recycling and reusing energy and material resources in order to reduce waste and pollution, improve the sustainability of manufacturing processes and solutions, clean up the environment, and create more economic, social, and environmental value (Egorova et al., 2020; Ilyina, 2022).

4. 5. ESG stands for environmental, social, and governance concerns, which are taken into account when making business and investment decisions. It is a framework that aids businesses in assessing and managing risks and sustainability-related possibilities. ESG variables are crucial for because they ensure that businesses are conducting their operations in a way that is both socially and ecologically responsible trustworthy (Clark, 2016);

5. 1.Circular Economy The concept of a circular economy is gaining momentum as a sustainable alternative to the traditional linear economy model. A circular economy aims to minimize waste and maximize the use of resources by keeping products and materials in use for as long as possible through recycling, upcycling, and other innovative measures. However, developing a circular economy requires significant investment in sustainable infrastructure and operations.

6. 2. ESG stands for environmental, social, and governance --- A. Environment. a. Environmental sustainability plays a crucial role in developing a circular economy. Environmental, social, and governance  (ESG)  criteria are increasingly being used by investors to assess companies’ environmental impact, ethical practices, and financial performance. b. Companies that prioritize ESG factors are more likely to adopt sustainable practices that support the transition towards a circular economy. c. Sustainable investing is another key aspect of developing a circular economy. Investors can direct capital towards companies that prioritize sustainability and the adoption of circular business models. Such investments can drive innovation in sustainable technologies and create new opportunities for businesses to reduce waste while increasing profitability.

7. B.Social Social factors address how a company treats different groups of people -- employees, suppliers, customers, community members and more. The criteria used include these examples: 1.Fair pay for employees, including a living wage. 2.Diversity, equity and inclusion (DEI) programs. 3. Employee experience and engagement. 4.Workplace health and safety. 5.Data protection and privacy policies. 6.Fair treatment of customers and suppliers. 7.Customer satisfaction levels. 8.Community relations, including the organization's connection to and impact on the local communities in which it operates. 9.Funding of projects or institutions that help poor and underserved communities. 10.Support for human rights and labor standards.

8. C.Governance Governance factors examine how a company polices itself, focusing on internal controls and practices to maintain compliance with regulations, industry best practices, and corporate policies. Examples include the following: Company leadership and management. Board composition, including its diversity and structure. Executive compensation policies. Financial transparency and business integrity. Regulatory compliance and risk management initiatives. Ethical business practices. Rules on corruption, bribery, conflicts of interest, and political donations and lobbying. Whistleblower programs.

9. Business model for the circular economy

10. To paraphrase French chemist Antoine-Laurent de Lavoisier: “Nothing is lost, everything is transformed.” This adopted motto of the circular movement explains how a closed loop approach doesn’t aim to end growth. Rather, circular economy aims to bend industry back into harmony with nature, so that we can continue to prosper