This paper aims to rethink the concept of the 'circular economy' through the prism of its relevance to its many stakeholders, ranging from public and private actors and mature and emerging industries to cities and regions, SMEs and multi‐sectoral corporations. The paper presents a schematic framework, which breaks down the circular economy into eight fundamental building blocks and shows how they are interconnected in relation to the multiplicity of involved actors. The framework is used to develop recommendations addressed to European policy‐makers on how best to support the transition towards a circular economy in the EU.
Carbon prices in the EU ETS have been low for a number of years and might remain at relatively low levels for the foreseeable future. That does not mean that the EU ETS, or the price signal it produces, is meaningless. Incentives to abate greenhouse gas emissions exist at any price level (it is just stronger with higher prices). This is true even if the impact is different between the power and industrial sectors, partly but not only because of the difference in allocation rules. What the ETS price signal does not drive, however, is long-term investment decisions, which are more a function of price expectations and expected returns on investment.
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