The Circular Economy, Bioeconomy, and Green Investments: A Systematic Review of the Literature

Pietro Jacomini Berto, Diogo Ferraz, Daisy Aparecida do Nascimento Rebelatto


Purpose – This study aims to evaluate the theoretical concept of the Bioeconomy and the Circular Economy in association with studies about green finance.
Theoretical framework – Several studies pointed out that sustainable investments must replace production processes. This literature provides a favorable environment for new studies on the Circular Economy and Bioeconomy. However, the literature lacks definitions and differentiation between both concepts.
Design/methodology/approach – A Systematic Literature Review (SLR) was adequate to systematize the information from 345 articles, 231 relating to the Circular Economy, and 114 articles relating to the Bioeconomy. In addition, the contents of the 24 articles with the highest number of citations was reviewed.
Findings – Our analysis revealed that the concepts of the Circular Economy and Bioeconomy could be similar or different. The concepts are similar due to the concern with sustainable economic development. However, the Circular Economy uses concepts that are related to the differentiation of the paradigm from a linear productive system to that of a loop. The Bioeconomy is more concerned with the use of biological resources and biotechnology. A geographic distribution of the studies can also identify the differences as well as the number of publications, citations, and methods used. However, both approaches equally show a scarcity of databases.
Originality/value – Our study reveals that the Bioeconomy concept is hardly used in countries with high biodiversity, for example, countries that make up the Amazon region. On the other hand, there was a greater synergy between the Circular Economy approach and production processes in different economic sectors in developing countries.
Keywords: Circular Economy; Bioeconomy; Green Finance; Systematic Literature Review (SLR).


Circular Economy; Bioeconomy; Green Finance; Systematic Literature Review (SLR).

Texto completo:

PDF (English)


ABOULAMER, Anas. Adopting a circular business model improves market equity value. Thunderbird International Business Review, v. 60, n. 5, p. 765-769, 2018.

BANGUERA, Leonardo A. et al. Reverse logistics network design under extended producer responsibility: The case of out-of-use tires in the Gran Santiago city of Chile. International Journal of Production Economics, v. 205, p. 193-200, 2018.

BOCKEN, Nancy MP. Sustainable venture capital–catalyst for sustainable start-up success?. Journal of Cleaner Production, v. 108, p. 647-658, 2015.

BRĂTUCU, Gabriel et al. Approaching the bioeconomy in terms of increasing the energy efficiency of households in Romania. Amfiteatru Econ, v. 21, p. 90-104, 2019.

DAL POZ, Maria Ester et al. Bio-based energy scenarios: looking for waste. Procedia Manufacturing, v. 7, p. 478-489, 2017. out. 2019.

DE SORDI, JOSE OSVALDO. Elaboração de pesquisa científica. Saraiva Educação SA, 2017.

FIGUEIREDO, Gabriela Negrão de; ABREU, Regilane Lacerda; CASAS, Alexandre Luzzi Las. Reflexos do Índice de Sustentabilidade Empresarial (ISE) na Imagem das Empresas: uma Análise do Consumidor Consciente e do Marketing Ambiental. Pensamento & Realidade, São Paulo, v. 24, n. 1, p.107-128, maio 2009.

GÂRDAN, Daniel Adrian et al. Bioeconomy development and using of intellectual capital for the creation of competitive advantages by SMEs in the field of biotechnology. Amfiteatru Economic, v. 20, n. 49, p. 647-666, 2018.

HE, Pinglin et al. Can Environmental Tax Policy Really Help to Reduce Pollutant Emissions? An Empirical Study of a Panel ARDL Model Based on OECD Countries and China. Sustainability, v. 11, n. 16, p. 4384, 2019.

KALAYCI, Irfan; UZUN, Ali Duran; ÖZKURT, Hatice. Bioeconomy and/or Biotechnology: Limited Improvements in Turkey. In: International Conference on Transformations and Innovations in Management (ICTIM 2017). Atlantis Press, 2017. Atlantis Press, 2017.

LOW, Jonathan Sze Choong; NG, Yen Ting. Improving the economic performance of remanufacturing systems through flexible design strategies: a case study based on remanufacturing laptop computers for the Cambodian market. Business Strategy and the Environment, v. 27, n. 4, p. 503-527, 2018.

MA, Shu-hua et al. Mode of circular economy in China's iron and steel industry: a case study in Wu'an city. Journal of Cleaner Production n. 64, 505-512, jan. 2014.

MASI, Donato et al. Towards a more circular economy: exploring the awareness, practices, and barriers from a focal firm perspective. Production Planning & Control, v. 29, n. 6, p. 539-550, 2018.

NUNES, Danilo Henrique; LEHFIELD, Lucas de Souza. Bioeconomia e direito: propostas de aprimoramento de marcos regulatórios para a segurança jurídica do desenvolvimento sustentável. Anais do V Congresso Brasileiro De Processo Coletivo e Cidadania. Ribeirão Preto, n. 5, p. 949-967, out. 2017.

Organizações das Nações Unidas [ONU]. PRI – Principles for responsible investment (2006).

PHILIPPIDIS, George; BARTELINGS, Heleen; SMEETS, Edward. Sailing into unchartered waters: plotting a course for EU bio-based sectors. Ecological Economics, v. 147, p. 410-421, 2018.

REIM, W.; PARIDA, V. e ÖRTQVIST, D. Product – Service Systems (PSS) business models and tactis – s systematic literature review. Journal of Cleaner Production, v.97, n.1, p.61-75, 2015.

SAYFOURI, N. An alternative method of literature review: systematic review in english language teaching research. Procedia - Social and Behavioral Sciences, v.98, n.1, p.1693–1697, 2014.

SILVA, Flavia Cristina et al. Circular economy: analysis of the implementation of practices in the Brazilian network. Revista de Gestão, 2019.

STRAT, Vasile Alecsandru; TEODOR, Cristian; SĂSEANU, Andreea Simona. The Characterization of the Romanian Circular Economy’s Potential, at County Level. Amfiteatru Economic, v. 20, n. 48, p. 278-293, 2018.

TRANFIELD, D.; DENYER, D. e SMART, P. Towards a Methodology for Developing Evidence-Informed Management Knowledge by Means of Systematic Review. British Journal of Management, v.14, n.3, p.207-222, 2003.

VELLANI, Cassio Luiz; NAKAO, Sílvio Hiroshi. Investimentos ambientais e redução de custos. Revista de Administração, v. 7, n. 2, p. 57-75, 2009.

WIELD, David et al. Twenty-first century bioeconomy: Global challenges of biological knowledge for health and agriculture. Science and Public Policy, v. 40, n. 1, p. 17-24, 2013.

YIN, Robert K. Estudo de Caso-: Planejamento e métodos. Bookman editora, 2015.



  • Não há apontamentos.

Licença Creative Commons

Está licenciado com uma Licença Creative Commons - Atribuição-NãoComercial 4.0 Internacional

e-ISSN: 1984-2430
GEPROS. Gest. prod. oper. sist., Bauru, São Paulo-SP (Brasil).

Departamento de Engenharia de Produção da Faculdade de Engenharia da UNESP - Bauru

Av. Eng. Edmundo Carrijo Coube, n° 14-01 Fone: 55-14-3103-6122