The accelerating urgency of climate change and industrial resource inefficiency has intensified the call for circular economy (CE) solutions that can be operationalized across governance levels. This chapter explores the transformative potential of the Internet of Things (IoT) in enabling circular supply chains and advancing net-zero industrial ecosystems. By proposing a multilevel tripartite governance framework—integrating global policy directives, national regulatory systems, and industry-level innovations—this study investigates how IoT technologies can bridge systemic gaps in circularity, including interoperability challenges, policy lag, and limited financial incentives. Drawing upon a mixed-methods approach and grounded in evolutionary game theory, the chapter illustrates how IoT-enabled mechanisms—such as digital twins, blockchain-based traceability, and real-time resource monitoring—are redefining waste-to-wealth strategies. Case studies from advanced economies and emerging markets (e.g., Tesla, Siemens, and India’s Smart Cities Mission) demonstrate how these innovations reduce material waste, enhance transparency, and align with global CE standards such as the EU’s Digital Product Passport and Circular Transition Indicators. The chapter emphasizes that IoT is not merely a technological enabler, but a systemic facilitator for CE transitions when governed by cohesive multistakeholder accountability, spanning vertical (regulatory), horizontal (cross-sectoral), and felt (societal) dimensions. It also addresses persistent barriers, including data fragmentation, energy inefficiencies, and policy inertia, offering strategic pathways for scaling sustainable industrial models. Ultimately, this work underscores the importance of synchronizing policy-technology synergies to unlock the full potential of IoT in catalyzing industrial transformation and securing a climate-resilient, resource-efficient future.