Research on Sustainable Development of Environmental Circular Economy Resources Based on Product Life Cycle Cost Analysis

  • Longfei Yu, Shifan Zhu

Abstract

Connecting the economic system with the environmental system is the key to support the decision making of circular economy, while sustainability assessment and life cycle sustainability assessment (LCSA) developed based on the traditional life cycle impact assessment (LCA) are important decision support tools.In recent years, the focus on sustainability assessment has led to the rapid development of life cycle cost analysis (LCC) and its application in resource cycle decision making. A lot of researches show that LCC is an effective economic decision-makingsupport tool. First of all, in this paper, the concept of “three pillars of sustainability” was introduced to explain the economic, environmental and social dimensions of LCSA and its relationship with LCC. Secondly, the definition and cost range of similar terms of LCC were distinguished, and the differences between LCSA and the traditional CBA approach were illustrated. On this basis, the EU VEEP project was taken as a case to illustrate the analytical perspective and calculation process of LCC from qualitative and quantitative dimensions.Finally, specific suggestions were put forward for the future research direction of LCC in China, including expanding application fields, standardization, the combination of research methods, as well as the development of database and software tools.

Published
2021-05-17
How to Cite
Longfei Yu, Shifan Zhu. (2021). Research on Sustainable Development of Environmental Circular Economy Resources Based on Product Life Cycle Cost Analysis. Design Engineering, 786 - 795. Retrieved from http://www.thedesignengineering.com/index.php/DE/article/view/1591
Section
Articles