This index had five components, economic and business indicators, environmental indicators, governance indicators, infrastructure and technology indicators, and social indicators. Each component (main indicator) contains many sub-indicators.
INPUT
Values for all indicators are converted to percentages (0-100%) to bring every variable on the same scale.
Geometric means of all indicators are needed — ???? what is weighted geometric means?
Data for these indicators can be obtained by creating surveys that include all the measurement items for each indicator and the sub-indicator
OUTPUT
In this index, the country that scores the highest value has a better track record of achieving the CE transformation. It indicates that a country’s economy can maximize resource efficiency by reducing waste, maintaining long-term value, reducing primary resources, and closing loops with products, parts, and materials within a framework that benefits society, protects the environment, and enhances economic sustainability.
FORMULA
CE index, Geometric mean- (weighted indicator 1 x weighted indicator 2 x weighted indicator 3 x weighted indicator 4……….x weighted indicator N) power 1/N
IMPLEMENTATION
The indicator can be implemented at the country level to assess their progress toward CE transmission. Due to the lack of indicators for measuring micro-level activities within CE and community behavior
toward circular economies, the index has such limitations. In future research, expanding the index to include indicators for measuring CE activities at the micro level and social behavior scopes will provide a comprehensive picture of the region’s transition to CE.
ADDITIONAL INFORMATION
Reference article here- CE index- Arab countries