Creating Simulation Model to Monitor, Test and Enhance the Effectiveness of Circular Economy Systems
Shrestha, P., Aalto, M., Ranta, T.
Adoption of circular economy strategy is essential in our transition towards a climate-neutral economic system. Monitoring a deployed system is paramount for assessing the performance. Quantification of circularity is required for successful assessment. In this project, agent-based simulation along with few other methods are used to create a virtual twin of a circular economic platform as a mathematical model of the economic system. The virtual twin will be utilized to monitor the real-life counterpart, create risk and environmental impact analysis, life cycle analysis and quantify circularity performance. Circularity indicators defined by the European commission are used as the basis of quantification. The project is aimed to be freely available which can be used as a tool for visualizing systems, interaction which should help individuals, company and policy makers in understanding and help in decision making.
life cycle assessment (LCA), circularity measurement, circularity quantification, economic simulation, agent-based modeling
Sustainable Bioeconomy: Impacts and Policies
Resource Efficient Bioeconomy
29th European Biomass Conference and Exhibition
1284 - 1286
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