Circular economy – the way to a more sustainable urban environment? A study of how conversion and a circular economic business model can benefit the aspects of sustainability

Sammanfattning: Today there is a global growing discourse regarding sustainability and the need for ecological responsibility. This in combination with the high level of shortage of accommodation on the market in Sweden and Stockholm, which is the geographically limitation of this study. One strategy to handle the shortage of accommodation and the high vacancy levels is property development through conversion where the change of use is in focus. This study is an exploratory study were the aim is to investigate how the existing property portfolio can be used to benefit the aspects of sustainability by conversion and a circular economic business model. There is also a goal to deepen the understanding of the incentives and market strategies in relation to conversion. The chosen method for this research is to use an abductive research method to ascertain the possibility for changes along projects’ life-time. Qualitative data have been collected with semistructured interviews as the main source where the respondents have been projects managers, and other essential actors, on a few selected companies as well as influential actors within the real estate sector. The three dimensions of sustainability, ecological, social and economic, have different influential roles depending on which explaining model that are studied. Also, there could be a ‘fourth dimension’ of sustainability, the cultural dimension, which widens the perspective. Further, the need for an environmental change have led to the birth of another economic model; circular economy. Here the traditional linear economic model is challenged with a model where recycling together with re-usage are in focus. Conversion is a strategy that is more frequently used now then for example 20 years ago, but the concept could have a larger role in today’s society. This could be seen as a circular economic approach for the construction, and/or real estate, industry, in which there have been investigations whether this new economic business model could have a bright future. Although, the actors on today’s market do believe that the traditional linear economic model is a better fit since it provides them with a larger profit in a shorter amount of time. Furthermore, the actors do believe that a circular economic business model is a good approach, but it is unfortunately not economically defendable in a large scale today. Since the market is full of uncertainties there are few actors that are willing to step into the world of conversion.