Business opportunities of circular bioeconomy have been proposed to lessen the socio-economic challenges of rural areas and to conserve diminishing natural resources. Recently, the financial and environmental sustainability of circular bioeconomy has gained considerable research interest. This study examines three promising operational models for circular bioeconomy development in southern Finland: willow cultivation on marginal lands, wood-based biochar production and wood chip heated greenhouse production. The feasibility of these models is assessed by analysing their financial and environmental sustainability using a multi-methodological approach. Financial sustainability is analysed using net present value and internal rate of return indicators via cash flow analysis. Environmental sustainability is examined using carbon footprint indicator in a life cycle assessment and a closed loop analysis. The results reveal correlations between both types of indicators, suggesting that a circular bioeconomy may lead to win–win situations. Potential closed loops are identified, and a circular bioeconomy model is suggested for improving security of supply and the flexibility of raw materials. Imbalanced revenue allocations between primary and secondary production are recognised as a potential threat to financial feasibility. Understanding financial and environmental sustainability of divergent operational models supports decision making and the legitimacy of change.

已经提出了循环生物经济的商机，以减轻农村地区的社会经济挑战并保护日益减少的自然资源。最近，循环生物经济的财务和环境可持续性引起了相当大的研究兴趣。本研究探讨了芬兰南部循环生物经济发展的三种有前景的运营模式：边缘土地上的柳树种植、木质生物炭生产和木片加热温室生产。通过使用多种方法分析它们的财务和环境可持续性来评估这些模型的可行性。通过现金流分析，使用净现值和内部收益率指标分析财务可持续性。在生命周期评估和闭环分析中使用碳足迹指标检查环境可持续性。结果揭示了两种指标之间的相关性，表明循环生物经济可能导致双赢局面。确定潜在的闭环，并提出循环生物经济模型以提高供应安全性和原材料的灵活性。初级和次级生产之间的不平衡收入分配被认为是对财务可行性的潜在威胁。了解不同运营模式的财务和环境可持续性有助于决策制定和变革的合法性。表明循环生物经济可能导致双赢局面。确定潜在的闭环，并提出循环生物经济模型以提高供应安全性和原材料的灵活性。初级和次级生产之间的不平衡收入分配被认为是对财务可行性的潜在威胁。了解不同运营模式的财务和环境可持续性有助于决策制定和变革的合法性。表明循环生物经济可能导致双赢局面。确定潜在的闭环，并提出循环生物经济模型以提高供应安全性和原材料的灵活性。初级和次级生产之间的不平衡收入分配被认为是对财务可行性的潜在威胁。了解不同运营模式的财务和环境可持续性有助于决策制定和变革的合法性。