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- All Subjects: circular economy
- Creators: Dooley, Kevin
Abstract<br/>Foreign Direct Investment has been pursued to economically integrate countries and to increase economic development. This has been accomplished partly through the WTO and Free Trade Agreements (FTAs), which have spurred foreign direct investment (FDI) by removing barriers to trade tariff and nontariff. In addition, they also created a framework and legal guidelines and regulations for investment and trade. Research suggests that this is the case when looking at country level data before and after FTAs go into effect. Although the existing literature offers important insights a weakness is it does not often look at the relationship between FTAs and FDI by analyzing firm level data. This is an important relationship to be studied as, beyond governments multinational companies (MNCs) are one of few key actors that can benefit the most and have the capabilities to take advantage of these FTAs. Therefore, studying the relationship between MNCs and their investments both before and after an FTA is signed is important to see if FDI would change in response to Free Trade Agreements and have an impact at the MNC level deployment of FDI. This would be significant to see if the current steady for attracting FDI is working. This is also important as FDI helps countries develop. Therefore, it can be seen as an exceptional contribution to the overall research on the subject. In this paper I will explore how companies have reacted to the formation of FTAs as well as the distinct effects of North-South South-South and North-North Agreements on firm’s investment strategies, using firm level data and drawing on interviews with multiple trade officials.
Historically, Life Cycle Assessments (LCA) guided companies to make better decisions to improve the environmental impacts of their products. However, as new Circular Economy (CE) tools emerge, the usefulness of LCA in assessing linear products grow more and more obsolete. Research Question: How do LCA-based tools account for reuse/multiple life cycles of products verses CE-based tools?
The Kaiteki Innovation Framework (KIF) was used to address the question of circularity of two packaging materials using an Environmental LCA to populate its 12 CE dimensions. Any gaps were evaluated with 2 LCA- based and 2 CE-based tools to see which could address the leftover CE dimensions.
Results showed that to complete the KIF template, LCA data required one of the LCA-based tools: Social Life Cycle Assessment (SLCA) and both CE-based tools: Circular Transition Indicators (CTI) and Material Circularity Indicator (MCI) to supplement gaps in the KIF. The LCA addressed 5 of the KIF dimensions: Innovation Category Name, Description, GHG Impact, Other Environmental Impacts, and Value Chain Position. 3 analytical tools addressed 5 more:: Effect on Circularity, Social Impacts, Enabling Technologies, Tier 2 and 3 Requirements, and Value Chain Synergies. None of the tools could address the KIF Dimensions: State of Development or Scale Requirements. All in all, the KIF required both LCA-based and CE-based tools to cover social and socio-economic impacts from a cradle-to-cradle perspective with multiple circular loops in mind. These results can help in the research and development of innovative, circular products that can lead to a more environmentally preferred future.