Circular Supply Chains: Implementing ESG Mandates through Closed-Loop Resource Management

Raheed Mohammad

Circular Supply Chains: Implementing ESG Mandates through Closed-Loop Resource Management

Author(s)	Raheed Mohammad
Country	India
Abstract	The growing imperative of environmental, social, and governance (ESG) requirements have made organizations reconsider the conventional linear supply chains models. Circular Supply chains which are defined by closed loops in the management of resources have been identified as one of the strategies that can be used to attain the sustainability goals and at the same time be efficient in their operations. This paper discusses the role of circular supply chains to help companies to execute ESG requirements by incorporating resource recovery, reuse, remanufacturing and recycling into the supply chain. The study is based on the existing literature and industry trends and explains the shift to the linear to the circular model and outlines the main enablers that include digital technologies, regulatory frameworks, and stakeholder collaboration. The results indicate that circular supply chains do not only decrease the environmental impact but also increase the economic value by optimizing resources and reducing waste (Geissdoerfer et al., 2017; Kirchherr et al., 2017). Moreover, incorporation of the ESG principles in the supply chain strategies enhances the corporate image, regulatory adherence and resilience in the long term. Nevertheless, the application of the circular supply chain is fraught, and the main issues are the great expenses of initial investment, technological intricacy, and the necessity to break the systemic change within the supply chain networks (Genovese et al., 2017). To address these obstacles, organizations need to embrace new forms of business, embrace superior technologies and collaborate with stakeholders. The research concludes that the concept of circular supply chains is an important avenue of integrating business activities with the requirements of ESG. Through closed-loop resource management practices, companies will be able to attain sustainable growth, and contribute to the global environmental and social goals.
Keywords	Circular Supply Chain; ESG; Sustainability; Closed-Loop Systems; Resource Management; Recycling; Remanufacturing; Green Supply Chain; Sustainable Operations; Circular Economy.
Published In	Volume 14, Issue 1, January-June 2023
Published On	2023-04-08
Cite This	Circular Supply Chains: Implementing ESG Mandates through Closed-Loop Resource Management - Raheed Mohammad - IJAIDR Volume 14, Issue 1, January-June 2023.

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Circular Supply Chains: Implementing ESG Mandates through Closed-Loop Resource Management

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