The Role of Technological Innovation in Advancing the Circular Economy: Challenges and Opportunities
Zeqi Xia
Co-Presenters: Individual Presentation
College: College of Business and Public Management
Major: Finance
Faculty Research Mentor: Eli Kochersperger
Abstract:
The circular economy is an alternative economic model aimed at reducing waste, maximizing resource efficiency, and promoting environmental sustainability. This study explores the relationship between circular economy principles and technological innovation, focusing on how advancements in recycling, energy efficiency, and sustainable business models enhance circular economy practices. In addition, the study mentions major challenges in public awareness and implementation.From this article, the findings indicate that while technological innovation plays a crucial role in optimizing resource use and minimizing environmental impact, significant barriers remain. These include policy constraints, economic feasibility concerns, and a lack of societal engagement. The study highlights the need for stronger government support, corporate initiatives, and interdisciplinary collaboration to drive the adoption of circular economy practices.By analyzing both theoretical perspectives and real-world applications, this research contributes to the ongoing discourse on sustainable development. The conclusions emphasize the importance of continuous innovation, policy adaptation, and public engagement to ensure the long-term success of the circular economy.Keywords: Circular Economy, Technological Innovation, Sustainability, Policy Challenges, Resource Efficiency