Abstract

The article is devoted to the consideration of the main provisions and substantiation of the essence of eco-innovations as the main competitive advantage in a closed-loop economy. In the course of the study, the authors consider the features of the development of eco-innovations, taking into account the features of a closed-loop/circular economy. The paper describes the genesis of the concepts of «innovation» and «eco-innovation» in scientific literature and regulations – both international and national. The study is supplemented by an analysis of the domestic legislative field. When synthesizing the existing definitions of the essence of the category of «eco-innovation», two essential approaches (as process and as product) have been identified for the first time. The erroneous interpretation of the essence of «eco-innovation» as process under the condition of the simultaneous existence of the category of «innovation process» has been proved. A theoretical distinction is made and the cause-and-effect relationships between the concepts of «innovation process» and «eco-innovation» are studied, the results of which are presented graphically. The authors propose their own definition of the concept of «eco-innovations» (which does not contradict the norms of the current legislation) within the framework of the essential approach «as product» of newly created (applied) and (or) improved competitive technologies, products or services, as well as organizational and technical solutions of production, administrative, commercial or other nature, created by the company itself or other external structures in order to reduce or prevent eco-destructive impact on environment throughout its life cycle, while ensuring the profitability of economic activity. The classification of «eco-innovations» is considered; technological, organizational, social, and institutional innovations are allocated, and the essence and features of each of the subordinate types are described. Two modern ecosystems – open and closed-loop – are characterized, their distinctive features are presented. The expediency and necessity of production and implementation of eco-innovations for economic entities and the State are substantiated.

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