ABSTRACT
In their efforts to stay ahead of rivals, companies are trying to create sustainable competitive advantages in terms of building climate action leadership, protecting biodiversity, and shepherding sustainability. In general, this may involve actions like pretending to be a green company to boost the social image or using cheap and substandard raw materials to lower costs and increase profits. Some of these actionable methods are very radical, with some real potential to influence climate change in a negative way. Therefore, governments and organizations need to step up to stop the negative and harmful environmental issues and push for a better climate and healthier earth. The current study focuses on the effects and roles of organizations, corporations and governments in the circularization of the global economy and circular business models. The study suggests that without mutual cooperation, it will not be possible to achieve sustainable development goals and, therefore, perceived greenwashing will continue to a large extent. Hence, businesses worldwide should firmly and logically watch all their sustainable business strategies.