Abstract:
Attribute to the rapid expansion of the built environment, excessive resource
consumption and waste generation aligned with the corresponding linear economy
practices have impacted the preservation of the ecosphere. In addressing the
shortcomings of the linear economy, the circular economy concept was introduced by
prioritising the circular value streams of the resources which minimises resource
extraction and waste generation. However, environmental concerns are often
disregarded in construction processes where the priority is given to the cost and
economic return of construction applications. Simultaneously, the absence of a proper
methodology in assessing the economic aspects of circular economy principles is
apparent in the built environment sector. Therefore, this study aimed to assess the
importance of a proper value assessment tool in shifting to a circular built environment
in Sri Lanka. Instigating from a literature survey, the existing knowledge on the study
area was synthesised. A qualitative approach was followed in the empirical study where
semi-structured interviews were conducted with ten experts in the field of circular
economy in Sri Lanka. The manual content analysis technique was followed in analysing
the collected qualitative data. The findings revealed that the extremely low maturity of
circular economy practices in the Sri Lankan construction sector is mainly caused by
the absence of a proper value assessment tool. Therefore, the introduction of a proper
value assessment tool is important for circular built environment experts to encourage
the fellow construction community towards the transition to a circular built environment
in Sri Lanka.
