Industrial Symbiosis: Novel Supply Networks for the Circular Economy
Weslynne Ashton, Marian Chertow, Shahana Althaf
Abstract
Abstract Circular economy (CE) has gained the attention of the business community with the promise of several trillions of dollars to be gained from finding productive uses for waste materials, and developing new business models focused on extending and reimagining the useful life of products. Industrial symbiosis (IS) involves the shared management of resources among multiple firms, most often within some geographic proximity. IS is particularly focused on the reuse of secondary materials, such as industrial by-products, for which conventional recycling does not exist. IS and CE represent a radical reconceptualization of business models from individual to collective competitive advantage with private and public benefits. IS has been recognized as a novel strategy for businesses and regions interested in implementing the CE. In this chapter, we explore the conditions and circumstances in which IS could play a pivotal role in increasing circularity and sustainability in diverse supply networks.