An integrated Best-Worst Method and interpretive structural modeling approach for assessing the barriers to circular economy implementation

The Circular Economy (CE) concept has emerged as a promising alternative for addressing the serious challenges faced by industries with high involvement in environmental pollution and waste generation. CE can contribute to minimizing waste generation and ecological degradation and ensuring environmental protection while maximizing the utilization of the available resources. Although research has analyzed the CE from different perspectives, insufficient emphasis in the extant empirical literature is given to Electronics Manufacturing (EM) industries in emerging economies. The overall generation of electronic and e-waste has grown exponentially, mainly due to the massive increase in the sale and use of modern electronic gadgets. This study aims to identify and prioritize the barriers to implementing CE in the EM industry and analyze their interrelationships. The process begins by identifying 15 significant barriers from the literature review. An integrated Best-Worst Method (BWM) and Interpretive Structural Modeling (ISM) with Matrice d'Impacts Croisés Multiplication Aappliquée à un Cclassement (MICMAC) framework were then utilized to prioritize the barriers based on their significance level. Lastly, we identify systemic interrelationships among these barriers. We show that the three topmost significant barriers behind CE adoption are the need for high initial investment and financial backing, lack of proper legislative support, and lack of support from top management. This study contributes to the current body of CE knowledge, guiding managers and policymakers in emerging economies to take proper actions for improving sustainability and achieving Sustainable Development Goals (SDGs) through sustainable and responsible resource utilization.