Evaluation of Factors Affecting the Transition to a Circular Economy (CE) in Vietnam by Structural Equation Modeling (SEM)

Abstract

Currently, the transition to a circular economy is becoming a development trend of many countries around the world to cope with climate change and reduce carbon emissions. Vietnam is also one of the countries in the process of taking steps to transition to a circular economy. However, to make a successful transition to a circular economy, citizen participation is essential. Thus, the question is, are people ready to participate in the circular economy? Therefore, this study surveyed 431 people regarding their willingness to participate in the circular economy based on the theory of planned behavior and the structural equation model. The results of empirical research have shown that the factors attention to the environment, and attitude towards intention are the factors that have a strong impact on willingness to participate in the circular economy. Based on the given influencing factors, the authors make some policy suggestions for the Vietnamese government in the transition to a circular economy.

Knowledge, Attitudes, and Practices on Circular Economy among Senior Managers of Ethiopian Textiles and Agro-Food Processing Companies

“…Knowledge of CE is one of the necessary factors for adopting circular solutions and can substantially affect attitudes and behaviours [75]. At a time when environmental sustainability has become a key managerial issue [1,7] and balancing environmental and business needs [9] is an increasing challenge, knowledge is a major asset to companies [78], both in general terms and in the innovative areas of CE and corporate sustainability.…”

“…Understanding their knowledge, attitudes, and practices is of the utmost importance in assessing these efforts towards building circularity in businesses. Most CE transition literature, in contrast, investigates the enablers and barriers of circular business models [13,42,45], the benefits of CE business models [77], the role of business managers in the implementation of circular practices [47], awareness of CE practices [14,51,53], consumer knowledge and determinants of intentions and practices towards circularity [43,75], the stock performances (returns and volatility) of companies engaged in innovative and environmentally-friendly disposal practices [62], and the policy frameworks for CE transition [59,60].…”

Investigating the effects of corporate social responsibility on sustainable consumer purchase behavior

“…The phrase “perceived customer effectiveness” relates to consumers’ conviction that their purchases would have a positive impact. Consumers’ scepticism towards businesses’ claims of environmental friendliness is known as the “greenwash perception” (Trần et al , 2022). Consumers who choose products with deliberate consideration for the environment and society are said to engage in SPB.…”

Investigating the Factors Impact the Decision to Invest in Rooftop Solar Power in Vietnam

“…The author emphasizes that household investment decisions are shaped by demographic and financial characteristics and by household conditions, awareness of this technology, and access to information. Another study on rooftop solar investment in the Netherlands discovered four important drivers: technology perceptions, innovation trends, and social and financial influences (Vasseur and Kemp, 2015). Lay et al (2013) analyzed the emerging rooftop solar market in which awareness, availability, and affordability were the main drivers of household investment in East Africa (Kenya).…”

“…Vietnam also faces many challenges of fossil fuel depletion, impacts of climate change, security and safety issues in energy supply. In addition, Vietnam needs to make an energy transition towards the implementation of a circular economy (Trần et al, 2022). Moreover, to achieve the dual goal of becoming a high-income country by 2045 and reducing net emissions to zero by 2050, Vietnam needs policies and institutions to green the economy.…”