**6. Role of enterprises toward circular economy**

In our consistently growing industrialized and densely populated world, the present pattern of manufacturing and consumption of goods and materials by people around the world may not fulfill the necessities of consumers. The supply chain around the world is predominated by the linear economy, an economic model in which raw materials are treated, utilized, and then disposed of as waste. Due to the high cost of processes in a linear economy, and heavy dependence on fossil fuels, this unique method is a major producer of greenhouse gas emissions globally.

If businesses around the world continue normally with the same concept of linear economy till 2050, global demand for resources will continue and it could almost triple resulting in the land reserves being depleted by more than 400% [34]. If the world does not transition to a purely circular economy, it can stop a functioning society, not just the economy. Linear approaches such as further deforestation for agriculture, and persistent use of non-renewable resources in construction projects, which contributes to habitat degradation and contributes to climate change, are already in the sixth mass extinction. However, investors can support the global acceptance of the circular economy in several areas i.e., public and private equity, fixed income, etc. Such investment strategies, along with discouragement of businesses and interests that sustain the linear economy, can lead to a future of environmental, social, and economic sustainability [35].

Organizations globally are taking steps to adopt the circular economy practices in their manufacturing, production, and logistics procedures to obtain the benefits of the circular economy and help preserve the environment. According to Mazonni [36], the companies like Nike, Burger King, Loop, Ikea Furniture, Adidas, Puma, Patagonia, H&M, HP, and The North Face have successfully adopted the circular economy principles to get closer to optimizing their operations in which nothing becomes waste. This step will motivate other companies to follow as well. Furthermore, many cement and concrete manufacturing companies in Colombia are adopting sustainable product development goals with minimized energy and water consumption [37]. Apart from this, the flooring company Desso has adopted circular economy principles by utilizing the cradle-to-cradle approach in its operations. Similarly, the ventures like Cycle Up, Waste Marketplace, and Backacia are encouraging construction waste to recycle, reuse, and circularity adoption [38].
