THE IMPACT OF THE TRANSITION TO THE CIRCULAR ECONOMY IMPLEMENTATIONS IN THE FINANCIAL INDUSTRY: RECOMMENDATIONS FOR GOOD PRACTICE

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dc.contributor.authorNzama-Sithole, Lethiwe
dc.contributor.authorKahyaoglu, Sezer Bozkus
dc.date.accessioned2025-03-20T09:44:57Z
dc.date.available2025-03-20T09:44:57Z
dc.date.issued2024
dc.departmentİzmir Bakırçay Üniversitesi
dc.description.abstractIntroduction: The circular economy is observed as a good sustainability practice that has gained importance recently. The effects of this practice specific to the financial industry are examined in the context of green accounting, finance, and sustainability reporting standards and needs. Purpose: This chapter aims to analyse the impact of the circular economy on the finance industry based on three research questions: (1) What benefits and challenges does the circular economy bring to the financial industry? (2) What should be the financial industry’s strategic roadmap and business model for transitioning from a linear economy to a circular economy? (3) What are the differentiating aspects of ecosystem accounting and environmental accounting in its structure and use in the financial industry? Methodology: The method of our work is based on a ‘strategic road map for circular economy’ implementation and a ‘sustainability business model framework’ relevant to the finance industry. Thus, we systematically present the ‘value generation process’ considering the industry trends and dynamics and regulatory challenges regarding ‘green business model’ management with a strategic approach. Findings: To coordinate the transition to a circular economy based on systematic knowledge about the state of ecosystems and their interactions with society, it is necessary to design monitoring, accounting and reporting systems that adapt to the new business operating environment. This chapter provides recommendations from the perspective of the financial sector. © 2024 by Lethiwe Nzama-Sithole and Sezer Bozkus Kahyaoglu Published under exclusive licence by Emerald Publishing Limited.
dc.identifier.doi10.1108/S1569-375920240000114011
dc.identifier.endpage189
dc.identifier.issn1569-3759
dc.identifier.scopus2-s2.0-85202618446
dc.identifier.scopusqualityQ3
dc.identifier.startpage173
dc.identifier.urihttps://doi.org/10.1108/S1569-375920240000114011
dc.identifier.urihttps://hdl.handle.net/20.500.14034/2093
dc.identifier.volume114
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherEmerald Publishing
dc.relation.ispartofContemporary Studies in Economic and Financial Analysis
dc.relation.publicationcategoryKitap Bölümü - Uluslararası
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_Scopus_20250319
dc.subjectCircular economy
dc.subjectgreen accounting
dc.subjectgreen blockchain
dc.subjectgreen business model for finance industry
dc.subjectlinear economy
dc.subjectsharing economy
dc.subjectsustainable finance
dc.subjectvalue hill
dc.titleTHE IMPACT OF THE TRANSITION TO THE CIRCULAR ECONOMY IMPLEMENTATIONS IN THE FINANCIAL INDUSTRY: RECOMMENDATIONS FOR GOOD PRACTICE
dc.typeBook Part

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