Circular Economy (CE) is an economic approach which aims to save the environment by eliminating waste and efficiently using resources by applying recycle, reuse, repair, remanufacturing and recycling strategies. The purpose of the article is to propose a concept of measurement the development of Environmental pillar in the context of Circular Economy, apply and provide empirical evidence based on the data of Baltic Sea Region countries. The research augmented for the analysis of Circular Economy which includes assessment model creation. The multi-criteria decision methods MULTIMOORA and TOPSIS were used to assess the development of Environmental pillar of Circular Economy in Baltic Sea Region. Results are useful to add to theoretical building and evaluate the Environmental aspect in the concept of Circular Economy.
The circular economy is based on the synergy of economic, environmental and social dimensions on-micro,-meso and-macro levels. Integration of circular economy would help to shift from a linear economy, which promotes "take-make-waste" industrial model to a more effective economic system that is based on business models, which replace the "end-of-life" concept with reducing, alternatively reusing, recycling and recovering materials in production/distribution and consumption processes. This alternative model would encourage producers to develop innovative solutions to reduce production waste, be in the line of "green" production and resourceeffi cient usage. A circular economy would help to solve problems of resource shortage, negative environmental impact, production and consumption waste by developing closer relationships between suppliers, manufacturers, retailers and consumers. Regulation and policy determents may infl uence consumer behaviour by promoting investment into environmental and social drivers, subsidiaries for eco-innovation and eco-technology development, and supporting ineffi cient consumption taxes and production pollution taxes. The purpose of the article is to propose a way of analysing of green economy dimension in the context of circular economy, by providing empirical tests on economic data of Baltic Sea Region countries. The current paper includes the observation of green economy dimension in the context of circular economy in Baltic Sea Region including Green investment, Green fi scal policy, and Technological development. A multi-criteria decision analysis methods TOPSIS and MULTIMOORA were used to compare the set of indicators by identifying weights for each criterion. TOPSIS and MULTIMOORA are quite useful methods to rank and make selection of several indicators.
Circular economy (CE) is based on environmental, economic and social dimensions which aim to ensure sustainable development on each step of product creation, transformation and conversion by creating a closed-loop economy. The purpose of the article is to propose a concept of measurement the development of eco-innovations in the context of circular economy, apply and provide empirical evidence based on the data of Baltic Sea Region countries. The study augmented for the models that include the analysis of the circular economy concept, the importance of eco-innovation in the context of circular economy including the accent on recycling, circular material usage, material efficiency and waste management. The multi-criteria decision methods MULTIMOORA and TOPSIS were used to assess the eco-innovation as a pillar of circular economy. Results are useful to add to theoretical building and also evaluate the socio-economic aspect in the concept of circular economy.
The concept of circular economy is alternative to linear economy, which places sustainability in the center of the interest. The circular economy focuses on environmental, resource efficiency, “no waste” approach, social factors and promotes the co-existing of healthy economy together with environmental health. The purpose of the article is to propose a concept of economic and environmental welfare in the context of circular economy, apply and provide empirical evidence based on economic data of Baltic Sea Region countries. The article includes the observation of environmental aspect and resource efficiency in Baltic Sea Region including green energy, renewable resources, waste management, economic indicators, as well as literature analysis and quantitative analysis. A multi-criteria decision analysis method TOPSIS was used to compare the set of indicators by identifying weights for each criterion. TOPSIS is quite useful method to rank and make selection of a number of indicators. By the result, the Baltic Sea Region countries are scored by the economic and environmental welfare in the context of circular economy.
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