Circular Economy put forth as an alternative to traditional linear model of extract-use-dispose along with the concept of Sustainable Development encompassing economic, environmental, and social aspects have garnered tremendous impetus among academics, practitioners and policymakers alike. The UN Sustainable Development Goals embraced by the member nations in 2015 based on the preceding Millenium Development Goals have been placed as the targets to be achieved as a part of holistic human development. In this backdrop, this paper examines the intersection of sustainability and circular economy with a focus on the three aspects of sustainable development, first the economic aspect by examining the relationship between GDP and circular economy, second the social economic aspect within the interaction of Circular Economy with Sustainable development and third the environmental-economical aspect by examining circularity and sustainability in waste management and waste valorisation. This paper achieves its objective through a systematic literature review of 1748 journal articles collected from Web of Science and SCOPUS database following PRISMA standards, network analysis of keywords, and manual review of texts. Four Research Questions are formulated:
RQ1: What are the major emergent topics in Circular Economy and Sustainable Development and how are they related?
RQ2: What is the relationship among CE and GDP in the CE and Sustainability?
RQ3: What are the relationships between CE and Sustainability?
RQ4: What are different use cases of valorisation of waste as CE tool, and can valorisation be sustainable?
RQ1 is answered by presenting hotspot of research on Circular Economy and Sustainable Development through keywords occurrence network analysis using VosViewer. This study identifies three clusters and seven thematic areas of research, along with 25 most used keywords. RQ2 is attended through review of the relationship between economic growth (Gross Domestic Product) and Circular Economy and proposes based on the review that CE is still at its infancy. The paper also discusses the appropriateness of using GDP as a measure of sustainable development. This paper addresses RQ3 by examining the relationship between Circular Economy and Sustainable Development through review of literatures. The indicators used to measure CE and SD are also discussed and summarised. This review finds that achieving SDGs require greater effort, and that the present status of achievement is a bleak picture. Further, the role of waste management and potentiality of waste valorisation to aid in circular economy and sustainable development is analysed to answer RQ4. Though there are ample potential, however the recycle rate is very minimal to quench the required level of circularity. While CE and SD are related, CE cannot be a universal panacea to global challenges like emissions reduction, energy consumption, climate change, gender equality, poverty, well-being, environmental protection etc. even though the impact of CE to achieve SD can be substantial. The paper recommends avenues for future research and presents the conclusion of the study
