Implementation of a circular economy-based business model for landfill management companies

Demand for raw materials by the world economy could increase by a further 50% in the next 15 years. In order to reverse the trend, a circular development model has to be adopted, which would keep materials and their value in circulation. This is the only solution able to maintain sustainability alongside economic growth. The Latvian waste management system currently relies heavily on landfilling, with a landfilling rate of over 70% in 2014. In a period when waste policies guarantee the supply of secondary raw materials and prevent valuable materials from getting lost in landfills or incineration, it is of vital importance to start shifting to a circular economy-based business model, particularly for landfill management companies. The purpose of the research paper is to develop a business model for a landfill management company that will facilitate efficient management of resources and their sustention within the economic cycle. The authors have developed the research based on mathematical modelling of resource flows for maximum economic benefit from their management. The model is dynamic as it depends on a wide range of parameters and the economy – changes in independent variables directly affect the model output. The methods used in the paper will be economic assessment with material flow analysis as well as systems dynamics for decision making. The research is limited to analysis of municipal waste. One of the main findings and practical implications will be a tool for decision-making based on the authors’ industrial symbiosis model. Industrial symbiosis fits perfectly into the circular economy concept and is an option for Latvian landfill management companies in promoting resource efficiency, especially taking into account that Latvia is underperforming in the management of primary resources. The originality of the paper is underscored by the lack of similar studies in Latvia. The research will be of a value for specialists in the municipalities, responsible for waste management, and for waste management companies, allowing them to improve their business model as well as to foresee and decrease operational risks and optimize transportation costs. The paper is designed as a research paper

Theory, practice and experience of environment protection in study process

The main accent in the article has been put on theory of environment protection. Besides there is told about BA School of Business and Finance experience in organizing and realize study courses connected with environment problems ("Environment economics", "Environment management", "Macroeconomics", "Environmental management", "Environment protection", "Environment management, organization of civil defense and labor safety") in different study programs, inter-subject connection, study results. Article's main attention is dedicated to methods, how practical works are done, work with databases, excursions, student's further studies (practical researches, bachelor's work etc.) and quality of study process - theory's connection with existing laws and regulations and sustainable development of national economy. Author is presenting the new study aid "Environment, civil and labour safety" that is prepared for emerging businessman and other interesents.publishersversionPeer reviewe

Challenges of the introduction of circular business models within rural SMEs of EU

Recently the circular economy has got a lot of attention within discussions of policy makers, academics and practitioners. The circular economy proposes the treatment of environmental and climate change problems, simultaneously promising benefits for the business. The circular economy promotes the reduction of the consumption and reuse or recycling of the resources that in various aspects contradicts traditional business models that stream to linear growth of sales of their products. Yet the circular economy concept has been more discussed regarding its global scale, but there is a lack of scientific discussions about the approaches of the adoption of circular economy principles on the business level. This paper conceptualises multi-level dimensions of the circular economy and highlights challenges related to the perception of the circular economy principles in the micro business level. The conducted research shows that rural SMEs of six EU countries have rarely heard about the circular economy and even less about circular business models. While rural SMEs are more familiar with the bio and green economies forming good base for developing circular business models, they are reluctant towards introducing new business models. This paper aims to assess the level of the advancement in introduction of the circular business models among rural SMEs of EU countries. This article emphasizes the circular economy as an inseparable part of the business models of rural SMEs and rural economies of EU countries. This study has a policy implication as we suggest that the government should play an important role in promotion of circular business models in rural SMEs. The existing public support system is fragmented, and in most cases just incidentally encourage rural SMEs to adopt new circular business models. Also, the circular economy on a local level, especially in rural areas, has an important role in ensuring social wellbeing of local inhabitants. The methodological approach and research results presented in the paper can be used further developing EU support system and priorities beyond 2020.publishersversionPeer reviewe

Development of the green entrepreneurial mindset through modern entrepreneurship education

Publisher Copyright: © 2021 Institute of Physics Publishing. All rights reserved.Entrepreneurship education programmes are slowly adapting to the circularity and sustainability movement. Business education lacks experiences in introducing sustainability and environmentally-friendly business topics into entrepreneurship study programmes. This article aims to research the inclusion of environmental and sustainability issues in the entrepreneurship education programmes in order to promote a green entrepreneurial mindset among students and acquire green business activities. The COVID-19 crisis has thrown a harsh spotlight on a range of sustainable development challenges, and the choices the community makes now in its path to recovery will shape the trajectory of sustainable development for years to come. Also, usage of digital technologies will become crucial in this green transition. The empirical research was based on the evaluation of a survey of 657 undergraduate students from the business administration sphere. The research results are of practical, social and scientific significance by exploring the green movement and its impacts on the entrepreneurship education curricula and their effects in developing a green entrepreneurial mindset of students.publishersversionPeer reviewe

CIRCULAR ECONOMY DRIVEN INNOVATIONS WITHIN BUSINESS MODELS OF RURAL SMEs

The competitiveness of rural SMEs is low due to economic inefficiency and the lack of innovations. The main challenges faced by rural SMEs are the limited scale, the distance form larger sales markets, RD and business support institutions, and the lack of innovative spirit. The circular and bio-economies are shaping the rural SMEs towards the environmentally friendly and eco-efficient production, the minimization of the generation of waste and less use of natural resources. This potential of the adoption of new business models within rural SMEs is not fully observed.The aim of this research is to analyse the opportunities of rural SMEs in introducing the innovative business models driven by the circular economy. This research explores the innovative business models of rural SMEs that transform the environmental challenges in business opportunities and keep a balance with the growing consumption needs. The results of the research are of both theoretical and practical value, providing recommendations for facilitation of innovative business models within rural SMEs. The research methods: desk research, statistical analysis, a grounded theory approach, case study, primary data gathering through seven focus groups with more than 200 stakeholders from six European countries. 

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Management of Household-Generated Construction and Demolition Waste : Circularity Principles and the Attitude of Latvian Residents

Publisher Copyright: © 2023 by the authors.This study aims to investigate to what extent the construction and demolition waste generated by households is managed by the principles of circularity and to identify the main influencing factors in the behavior of households regarding the circularity-based management of construction waste in Latvia. The current research presents principles of circularity of household-generated waste based on a systematic literature review, and the data obtained from a survey were analyzed using both descriptive and inferential statistics. This study clarifies the circular economy rationale for construction and demolition waste (CDW) management in Latvia and proposes further development to promote the achievement of sustainable development goals and increased energy efficiency. The results reveal that the observance of circular economy principles in construction and demolition waste management among Latvian households does not correspond to good circular economy practices due to attitudes toward environmental issues, expenses, and logistics; thus, compliance with these principles and legislation as well as closer cooperation between municipalities and households can promote significant economic benefits.Peer reviewe

Ensuring sustainable development of enterprises in the conditions of digital transformations

Modern enterprises are dynamically developing due to the fourth industrial revolution, contributing to the introduction of innovative infocommunication technologies in most business processes, thereby shaping and developing the digital economy. The aim of the article is to substantiate the concept of sustainable development of enterprises in the context of digital transformations. The theoretical and methodological foundations of sustainable development at different levels of the hierarchy have been determined. The concept of sustainable development of enterprises has been developed, the implementation of which is aimed at harmonizing the economic, environmental and social activities of the enterprise. The stages of the process of implementing the concept of sustainable development of enterprises are highlighted, providing for the justification of an inert, neutral, progressive or forced vector. Ensuring the implementation of the concept of sustainable development is expected through the use of applied models, in particular, the implementation of a parametric model of joint deployment of enterprise infrastructure with other infrastructure facilities in economic activity, taking into account technical, geographical, organizational and socio-economic factors to strengthen financial stability; building a model for ensuring a balanced balance between economic efficiency and environmental and social responsibility of an enterprise using a mechanism for managing transformation processes in the process of transition to sustainable development in the context of digitalization.publishersversionPeer reviewe

Opportunities to increase financial well-being by investing in environmental, social and governance with respect to improving financial literacy under covid-19 : The case of Latvia

Funding Information: Funding: The paper was funded by the Latvian Council of Science, the project “The Impact of COVID-19 on Sustainable Consumption Behaviors and Circular Economy (Nr. lzp-2020/2-0317)”. Publisher Copyright: © 2021 by the authors. Licensee MDPI, Basel, Switzerland.The latest studies reveal that the COVID-19 pandemic has pushed investors in developed economies to focus more on the value attached to environmental and social responsibilities. Unfortunately, socially responsible investment and compliance with environmental, social and governance criteria are not given enough priority in Latvia at present. The purpose of the study is to investigate how the COVID-19 pandemic has influenced the willingness of Latvians to invest in assets that meet environmental, social and governance (ESG) criteria and factors influencing investors’ choice based on their financial literacy. Different views on sustainable investments, socially responsible investments and the relevance of environmental, social and governance criteria from private investors’ perspectives were analyzed to identify factors influencing investment decisions in favour of sustainable investments. Quantitative analysis was carried out to reveal the regularities between financial literacy, the willingness to invest to meet the ESG criteria and the level of education and income of the Latvian population, as well as their savings/investment experience. Such statistical methods as descriptive statistics and hypothesis testing were applied to perform an analysis of the results. The authors’ findings include the importance of sustainable investing to Latvian society, changes of attitude towards ESG investing in different private investors’ groups under the COVID-19 crisis, and the effects of these changes on the financial well-being of the population and, on the basis of these findings, have come to the conclusion that the willingness to invest in the assets that follow environmental, social and governance criteria depends on the level of education, savings/investment experience and income level.publishersversionPeer reviewe

Sustainability challenges and drivers of cross-border greenway tourism in rural areas

Funding Information: Funding: This research was funded by the BA School of Business and Finance (Latvia), internal grant number “BA 2019/1” under the research project “Management of circular business models and projects within economy of Latvia”. Publisher Copyright: © 2020 by the authors.This article provides a practical example of the development of cross-border tourism and its link to achieving sustainable development goals. Greenways (GWs) are successful and recognized initiatives in Western Europe, but have recently also shown development trends in Eastern Europe, notably, in the Baltic Sea Region and Russia. These initiatives improve the quality of life and provide opportunities for sustainable economic activities for the local communities, especially in rural areas, adding value to their natural, cultural, historical and human heritage. The authors studied examples of best practice in scientific literature and practice, encouraging the development of cross-border tourism and GWs in Europe and Russia, in order to further adapt it to other continents. Analyzing the environmental, economic, social and institutional factors in the region and their role in sustainable development, the need for institutional regulation that would allow the development of a wider development of GWs is identified. Research results reveal sustainable development dilemmas of positive socioeconomic effects of GWs and negative environmental effects of increased flows of tourists. Focus groups and expert interviews allowed us to assess the level of various factors contributing to sustainable development and clarify the directions of the future research.publishersversionPeer reviewe