Economic Feasibility of Sustainable Innovations

Doszhan, Rajgul; Zhuparova, Aziza; Kozhahmetova, Asel; Semerkova, Lyubov

doi:10.21685/2227-8486-2022-3-3

Cited by 3 publications

(1 citation statement)

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“…As Earth's biocapacity approaches its limits, and with climate policies and regulations on carbon emissions tightening globally (Berawi, 2020), coupled with the volatility in prices and demand for fossil resources, it becomes crucial to transition from a linear to a circular model of production and consumption in industrial ecosystems (Khaykin and Babkin, 2022). Numerous studies have considered circularity in industrial ecosystems at different levels (Krmela, Šimberová, and Babiča, 2022;Ilyina, 2022;Kulibanova et al, 2022;Shkarupeta and Ilyina, 2022), proposing approaches to assessing circularity (Khan et al, 2023;Kuzior, Arefiev, and Poberezhna, 2023;The Circularity Gap Report, 2022;Vinante et al, 2021;Bogdanovich-Irina, Kistaeva-Natalia, and Egorova-Svetlana, 2020;Mayer et al, and its Application in NLMK Group 2019; Haas et al, 2015) and circular maturity (Uztürk and Büyüközkan, 2022), as well as analyzing mechanisms of transition from linear economy to closed-loop economy (Pichlak and Szromek, 2022;Doszhan et al, 2022;Gileva and Shkarupeta, 2022;Surovitskaya, 2021;Umarova, 2021;Liu and Stephens, 2019).…”

Section: Introductionmentioning

confidence: 99%

Managing Circularity in Industrial Ecosystems: Introducing the Concept of Circular Maturity and its Application in NLMK Group

Babkin,

Shkarupeta,

Malevskaia-Malevich

et al. 2023

IJTech

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The primary objective of this research endeavor is the conceptualization and operationalization of the 'Circular Maturity' construct within the context of industrial ecosystems. A comprehensive evaluative framework is developed, designed to assess circularity in alignment with thresholds that are environmentally, socially, and economically acceptable, commonly encapsulated as ESG results. This framework incorporates a multifaceted system for the governance of circularity, integrating diverse measures, functions, principles, strategies, business models, and circular solutions across various stages of the value chain. Utilization of information, finances, resources, human capital, platforms, and collaborative mechanisms is envisaged to mitigate external risks and challenges. Key driver projections, namely circular potential, circular activity, and circular efficiency are formulated for the governance of circularity and the enhancement of circular maturity at the corporate level. The applicability and efficacy of the proposed framework are validated through a case study involving the industrial ecosystem of Novolipetsk Metallurgical Combinate (NLMK) in Russia.

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Section: Introductionmentioning

confidence: 99%

Managing Circularity in Industrial Ecosystems: Introducing the Concept of Circular Maturity and its Application in NLMK Group

Babkin,

Shkarupeta,

Malevskaia-Malevich

et al. 2023

IJTech

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Sustainable Energy Transition, Circular Economy, and ESG Practices

Kandpal,

Jaswal,

Santibanez Gonzalez

et al. 2024

Circular Economy and Sustainability

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Relationship between banking infrastructure, innovation and economic growth in Kazakhstan

Nurgaliyeva,

Koshkina,

Zaitenova

et al. 2024

Banks and Bank Systems

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Today, the development of financial technologies and their application in the banking sector have changed the processes of economic growth in general and commercial banks in particular, giving them an innovative orientation. The aim of this study is to investigate the relationship between the banking infrastructure, innovation, and economic growth in Kazakhstan based on panel data. The study relies on information extracted from annual publications issued by the National Bank of Kazakhstan, the World Bank Database, and the Bureau of the National Statistics of Kazakhstan from 2004 to 2022, and also uses a regression model. Within this framework, variables used in the study, the number of ATMs, the number of bank branches, and the share of innovative products, are explanatory variables, and the gross domestic product per capita is the dependent variable. The study showed that both business innovations and the prevalence of ATMs have a significant and noticeable impact on the economic landscape of Kazakhstan, as evidenced by the impressive value of the R-square of 0.890. Moreover, the regression model demonstrates reliable stability and reliability, which is confirmed by the p-value of 0.001. In light of these findings, it is important to contribute valuable insights and evidence-based recommendations to enhance Kazakhstan’s economic growth strategy by leveraging the synergistic potential of its banking infrastructure and innovation ecosystem. AcknowledgmentsThe study was funded by the Committee Science of the Ministry of Science and Higher Education of the Republic of Kazakhstan “Investigating the impact of macroeconomic, political, and digital processes on financial sustainability of Kazakhstan” No. AP19674948.

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Economic Feasibility of Sustainable Innovations

Cited by 3 publications

References 0 publications

Managing Circularity in Industrial Ecosystems: Introducing the Concept of Circular Maturity and its Application in NLMK Group

Managing Circularity in Industrial Ecosystems: Introducing the Concept of Circular Maturity and its Application in NLMK Group

Sustainable Energy Transition, Circular Economy, and ESG Practices

Relationship between banking infrastructure, innovation and economic growth in Kazakhstan

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