Environment policy in the formation of circular economy

Abstract

The research aims to study the circular economy as an alternative to the current linear economy model in which materials and products are used quickly and then thrown away, causing adverse social and environmental impacts. A circular economy is a production and consumption model that aims to use materials for longer in the economy and reduce waste generation, which reduces damage to society and the environment. The article is devoted to environmental problems and ways to solve them by introducing a circular economy. The main characteristics of sustainable development, green economy, and circular economy are analyzed, their tasks, similarities, and differences are considered in detail. The article provides specific examples of the implementation of the circular economy by international companies from various industries. Modern companies implement the principles of a circular economy using innovative strategies and tools, which are also discussed in the article. The transition to a circular economy model will reduce raw material costs, create new markets and products, improve customer relationships, increase customer loyalty, create a competitive business model, and improve brand reputation. In preparing the article, the methods of analysis and synthesis were used, theoretical and practical material was generalized, and the main provisions of economic and comparative analysis were used.