THE IMPACT OF LEGAL PROVISIONS FOR A SUSTAINABLE CIRCULAR ECONOMY

Abstract

The circular economy, an important and rapidly growing economic field, is a systems-level approach that seeks to reduce resource consumption and waste generation while increasing economic prosperity. It is, however, critical to understand the legal provisions that can support and enable its success. It cuts to the heart of how the law can support and facilitate sustainable development through the circular economy. This paper examines how a circular economy can contribute to sustainable development, by focusing on its environmental, economic, and social impacts. In addition, it evaluates the legal and policy instruments needed to facilitate the transition to a circular economy. The article further examines the legal framework regulating circular economy within the Nigerian context. It explores the role of national and international laws in promoting a circular economy and identifies opportunities for reform. It argues that a holistic approach to the law is necessary to ensure a sustainable and just transition. Through an analysis of case studies and theoretical frameworks, the article finds that the circular economy has the ability to contribute to sustainable development, but significant policy changes are needed to realize this. By addressing these challenges, the circular economy can play a significant role while the law serves as a catalyst.