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Towards a circular economy: insights based on the development of the global ENGAGE-materials model and evidence for the iron and steel industry

Winning, M; Calzadilla, A; Bleischwitz, R; Nechifor, V; (2017) Towards a circular economy: insights based on the development of the global ENGAGE-materials model and evidence for the iron and steel industry. International Economics and Economic Policy , 14 (3) pp. 383-407. 10.1007/s10368-017-0385-3. Green open access

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Abstract

A number of recent economic modelling studies have attempted to analyse resource efficiency and the circular economy. However, modelling analysis in this area is relatively underdeveloped. In particular, many CGE models are unable to provide significant insight given their aggregated sectoral coverage. Here we describe the development of the Environmental Global Applied General Equilibrium (ENGAGEmaterials) model created to consider the economic and sectoral effects of potential policies on a circular economy and resource efficiency, which affect materials and resources at the stages of extraction, production and recycling. Our policy scope is global with a special emphasis on China and Europe, as both regions have dedicated policies in place and indicate their willingness to take the lead. The case of steel is relevant as it is a key material for all economies across the world and offers a range of interesting features for circularity and sustainability. ENGAGE-materials models iron ore mining, primary production of iron and steel, secondary production of iron and steel, and steel scrap recycling at the global level. We utilise this technology rich framework to provide preliminary results on scenarios comprising economic insights into a saturation effect and straightforward policy such as doubling the availability of secondary steel.

Type: Article
Title: Towards a circular economy: insights based on the development of the global ENGAGE-materials model and evidence for the iron and steel industry
Open access status: An open access version is available from UCL Discovery
DOI: 10.1007/s10368-017-0385-3
Publisher version: http://doi.org/10.1007/s10368-017-0385-3
Language: English
Additional information: Copyright © The Author(s) 2017 This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
Keywords: Resource efficiency. Circular economy. Recycling . Iron and steel . Computable general equilibrium
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources
URI: https://discovery.ucl.ac.uk/id/eprint/1566620
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