Despite the significant growth in research on the triad of Circular Economy (CE), Innovation, and Sustainable Business Models (SBMs), theoretical fragmentation persists due to the lack of holistic conceptual integration, resulting in a heterogeneous framework that is difficult to apply in practice. Given this scenario, this study aimed to identify, categorize, and systematize the state of the art of Circular Economy, Innovation, and Sustainable Business Models, aiming to increase conceptual clarity and strengthen the application of these concepts in theory and practice. At the same time, we sought to map emerging trends, opportunities, challenges, and future directions capable of supporting the work of academics, practitioners, and public policymakers. To this end, we conducted a systematic literature review based on the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) and the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) protocols, resulting in the final selection of 60 publications extracted from the Scopus database. The results suggest that research in this field is emerging, rapidly expanding, and with increasing diversity of applications across different contexts and sectors, although still concentrated in developed countries and at an early stage of scientific maturity, marked by the predominance of systematic reviews and case studies. A thematic evolution was also observed, moving from a focus on climate change and energy efficiency to encompass design principles, cross-sector collaboration, and sectors such as the bioeconomy and recycling, in addition to the more recent incorporation of digital technologies and consumer-focused strategies. Based on the analysis, the concept of Circular and Sustainable Business Model Innovation (CSIBI) is proposed, integrating the triad and systematizing its conceptual basis. The future research agenda covers strategies and metrics for sustainable circularity, as well as the role of digital technologies, governance, and human factors, providing guidance to consolidate the field. This framework contributes to the advancement of new research, strengthens the adoption of business practices in the transition to more circular and sustainable business models, and provides input for public policymakers, integrating the principles of the circular economy, innovation, and sustainable business models.
Araújo et al. (Wed,) studied this question.