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According to the early candidate intentions, The Budapest 2024 Bid Committee goal was to submit a responsible and sustainable Games plan to the IOC. In doing so, it became evident that a superior approach would be needed than that adopted by cities hosting earlier versions of the Olympic and Paralympic Games. In recent years, Olympic Games were successfully organised from the perspective of handling sustainability. The previously applied low-carbon standards aimed to mitigate the greenhouse gas (GHG) emissions comparing to business-as-usual (BAU) processes. However, the carbon management strategy is still limited to the decarbonization of material stocks assigned to certain functions. This is the reason for the appearance of a new economic perception, Circular Economy which is built on sustainable material flow and reasonable resource utilization. While the low-carbon concept aimed to optimize the application of stocks, circular economy rather applies services for the same functions. Therefore, the mechanism eliminates the potential emission sources in the first place. This paper aims to introduce a calculation method which helps to assess the stock intensity of activities throughout the Olympics lifecycle (preparation, host of games, legacy periods). The outcome of the methodology, the Circular Economic Value (CEV) highlights the main improvement points on the initial BAU plans. This theoretical model will be used for the future evaluation of the Budapest 2024 Olympic Games, where future researches are expected to associate cost-benefit ratios to this value and enable decision makers to apply the accurate circular planning tools to enhance circularity of the long term Olympic programming.

THE DEVELOPMENT OF A CIRCULAR EVALUATION (CEV) TOOL – CASE STUDY FOR THE 2024 BUDAPEST OLYMPICS