The quantification of the circular economy and sustainability is a relevant aspect at different levels of applications: (i) the companies need to evaluate and improve the environmental, economic, and social impacts of their products and processes; (ii) the financial bodies must have quantitative information about the potential and risks of different proposed initiatives to select the optimal opportunity; and (iii) the policy-makers must be guided for the coherent definition of strategies at regional, national and international scales, setting realistic targets and measuring their effectiveness. However, the lack of comprehensive and robust approaches to quantify circular economy makes it challenging to apply quantitative methods and indicators in different contexts and compare the results, with the risk of limiting the practical implementation of circular initiatives due to unknown and/or unclear potential and contribution. The ViVACE® tool (Visualization of Value to Assess Circular Economy), developed by the authors, is a promising and effective means to collect data in a systematized manner, helpful to assess sectorial and cross-sectorial indicators about sustainability. It has been applied to different industrial sectors (e.g., plastics, food processing, textile) for different purposes. These applications are described in detail to highlight the potential, versatility, and implications of the proposed tool in boosting the effective transition to a circular economy.
Part of the book: Product Life Cycle