Challenges and Opportunities of Circular Economic Model for Developing Countries: Evidence from Bangladesh

Abstract

The circular economy model is used minimum in the developing nation as compared to the developed nation from the environmental as well as sustainable development focal point of view. The key objective of this paper is to identify the existing overall scenario of the CE model in Bangladesh and its possibility of sustainable development. The study is a kind of survey research and uses only secondary sources of data. In this paper, a general appraisal of the environmental conditions of Bangladesh, future conditions, opportunities and concerns for the application of circular economy model are all explained in detail. However, the conversion from linear economy has possibilities, but the research indicates that the CE model’s adaptability is extremely limited in Bangladesh, and is currently implemented through recycling activities across some industries. Finally, we tried to identify, which factors might be restraining the practic eof circular economy in Bangladesh, and reiterate some policy, technology, and public participation constraints present in Bangladesh. It is expected that this paper will be helpful to the policymakers in general and the ones of the developing countries including Bangladesh in particular so that they should look deep into the matter and the author wishes to propose some ideas for further researchers to work on the idea of CE in regard to certain sectors as well as the sub-sectors of Bangladesh.