Circular economy in the context of implementing the concept of sustainable development

Abstract

During the last three decades the entire progressive world has been trying to put into practice the concept of sustainable development, which implies balancing environmental, economic and social aspects of development. The main focus of this paper is to generalise and systematise modern theoretical and practical approaches to achieving the sustainable development goals. The author devotes particular attention to the concept of circular economy. The conceptual frameworks of sustainable development, green economy, and circular economy (closedloop economy) constitute the methodological basis of the research. The methods include analysis, synthesis, classification, observation. The author proves the possibility and importance of taking into account the sustainable development goals while managing general modernisation processes in society and the economy. The paper reveals that the development of the ‘umbrella’ concept of green economy as a tool for attaining the sustainable development goals, relies on the concepts of environmentally friendly production, the best available technologies, and the circular economy. The author considers theoretical and practical foundations of the circular as a new trend in the development of the concept of sustainable development and studies regulatory, market, financial, investment, economic, technological, and organisational factors that affect the application of the circular economy principles in Russia. The results of the research can help to reach the sustainable development goals at various levels and spheres of economic management using the closed-loop economy tools: circular business models, secondary raw materials markets, methods for managing the cyclical nature of production and consumption

Influence of Closed-Loop Technologies on Local Development of Communities and Formation of Their Social and Economic Security

“…There are working business models for the introduction of this concept within enterprises, which are mainly oriented on replacement of usual resources with effective natural substitutes, on restoration of already used resources, on increase of life cycle of the product or use of the product and service (i.e. granting of goods for temporary use) (Mochalova, 2020). There is a real practice in the world in applying all these types of business models, especially common ones, in the countries of the West, and they can be introduced within Ukraine as well.…”

Green Trend in Global Energy Development: Tendencies and Opportunities

“…Sustainable development goals that reflect its economic dimensions include: (7) "Ensuring access to affordable, reliable, sustainable and modern energy sources for all," (8) "Promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all," (9) "Building strong infrastructure, promoting inclusive and sustainable industrialization and innovation," (12) "Ensuring sustainable consumption and production patterns." The need to implement these targets is due to the need to reduce inequality in the global economy and transition to socio-economic development, taking into account environmental constraints (Mochalova, 2020;Anderson et al, 2017;Boehringer et al, 2014;Du et al, 2020;Ivanitsky and Petrenko, 2020).…”