Assessing the implementation of the circular economy in the EU countries

Abstract

The circular economy (CE) is generally an economic system which aims to reduce waste and reuse resources. Predetermined by the need for new sources of sustainable development in the current conditions of global environmental issues and qualitative and quantitative limitations of resources, this promising concept has recently fuelled a broad international discussion. The circular economy is now an urgent global priority for policymakers as well, especially in the EU.Given these facts, the benefits and impact of a circular economy with an emphasis on waste and recycling management are being investigated on supranational and national levels (in the EU and its member nations, which are world leaders in terms of its adoption). Systematisation, comparative analysis, benchmarking and generalisation, economic and mathematical modelling (the formation of a model of recycling efficiency in the context of the CE in the EU based on the Eurostat data on the CE in the EU) and statistical methods were the research methods used in the study. It was proven that waste recycling rates have a significant impact on the EU recyclable raw materials trade. The proposed methodology of modelling the CE results can be used for other countries/companies. The research may help to promote effective reformation of global economics by propelling sustainable development.