The Role of Waste Banks in Supporting Circular Economy: A Business Sustainable Perspective
DOI:
https://doi.org/10.33005/mebis.v11i1.758Keywords:
Circular Economy, Waste Bank, Waste Management, Sustainability, Community ParticipationAbstract
The concept of a circular economy emphasizes the optimization of resource use by minimizing waste generation, reusing materials, and promoting recycling. Waste banks play an essential role in supporting this framework by encouraging community participation in sustainable waste management. This study explores the potential of waste bank in promoting circular economy practices. A qualitative research method was employed through in-depth interviews with stakeholders, supported by field observations to validate the findings.
The results indicate that waste banks contribute significantly to environmental sustainability and economic empowerment by fostering awareness, behavioral change, and the creation of added value from recyclable materials. However, several challenges persist, such as limited infrastructure, lack of technology, and inconsistent community participation in waste sorting. The study highlights that collaborative efforts among local governments, waste banks, and communities are essential to strengthening waste management systems. Moreover, investment in recycling technologies and continuous public education are vital for ensuring long-term sustainability.
Overall, the study concludes that waste banks serve as effective instruments in advancing the circular economy at the community level, offering both environmental and economic benefits. Strengthened governance, technological support, and community empowerment are necessary to maximize their potential and ensure a sustainable circular waste management ecosystem.
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