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Does finance as usual work for circular economy transition? A financiers and SMEs qualitative approach

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dc.contributor.authorMorales García, Manuel
dc.contributor.authorCuesta González, Marta María de la
dc.date.accessioned2024-05-20T11:23:40Z
dc.date.available2024-05-20T11:23:40Z
dc.date.issued2022
dc.description.abstractTransitioning to a circular economy (CE) particularly challenges small- and medium-sized enterprises (SMEs), and a deeper understanding of CE financial barriers is needed. We draw on SME and financiers’ views to qualitatively study the risks associated with CE, how such risks limit access to financial resources and how financial institutions perceive those risks. We find that transitioning to a circular economy entails regulatory, cultural and market risks and that CE business success does not depend solely on SME resources or capabilities. Contributions include combining business model perspectives with transition theories and showing that new circular business models entail major reforms to political, regulatory, and market structures, including financial markets. From a practical perspective, to accelerate CE transition, we recommend reducing fragmentation, uncertainty and incoherence in regulation of the remodeling of information and risk assessment systems and new co-financing mechanisms and alternative instruments such as blended finance or “circular finance.”en
dc.description.versionversión final
dc.identifier.doihttps://doi.org/10.1080/09640568.2021.1972798
dc.identifier.issn0964-0568, eISSN 1360-0559
dc.identifier.urihttps://hdl.handle.net/20.500.14468/11881
dc.journal.issue13
dc.journal.titleJournal of Environmental Planning and Management
dc.journal.volume65
dc.language.isoen
dc.publisherTaylor & Francis Group
dc.relation.centerFacultad de Ciencias Económicas y Empresariales
dc.relation.departmentEconomía Aplicada
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/deed.es
dc.subject.keywordsCircular economy
dc.subject.keywordssmall and medium enterprises
dc.subject.keywordseco-innovation
dc.subject.keywordssustainability
dc.subject.keywordsfinancial resources management
dc.subject.keywordscircular business model
dc.titleDoes finance as usual work for circular economy transition? A financiers and SMEs qualitative approaches
dc.typejournal articleen
dc.typeartículoes
dspace.entity.typePublication
relation.isAuthorOfPublication66549a85-3284-4b84-993e-46572705bb8c
relation.isAuthorOfPublication.latestForDiscovery66549a85-3284-4b84-993e-46572705bb8c
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