Innovation in the circular economy

Abstract

The circular economy (CE) is an area that is increasingly resonating across different sectors. This is one of the principles of the sustainability strategy. CE deals with ways to improve the quality of the environment and human life by increasing production efficiency. In the future, it is intended to replace the linear economy, in which a large percentage of products, in the first place, end up unnecessarily after consumption in landfills or incinerators. It is necessary to deal with the observance of the principles of the circular economy, mainly for the sake of nature protection in connection with the visibly changing climate and stocks of raw materials. In the context of global trends, sustainability strategies are a necessity for more and more companies. It is therefore a presentation of the concept of environmentally sustainable economy, technology and production chain in today's globally burdened environment.
 Accessing CE in terms of cost, material and energy savings can be a great motivation for companies. Companies are trying to reduce costs associated with production and waste management and are looking for new business models. As part of the transition from linear to CE principles, procedures and opportunities for a step improvement compared to the existing competition in the form of the implementation of innovative proposals can be recommended.
 There are not only ecological but also economic arguments in favor of CE. The economy requires resources to produce goods and services and ultimately to create value for society. Unless companies radically use recyclable materials more often and adhere to CE principles, they will face a shortage of resources that will complicate their operations in the medium to long term.
 In order for companies to become part of the circular economy, they must carry out a complete overhaul of their business models. Based on analyzes of the economic and social environment, the presented article provides an overview of the possibilities of innovation and eco-innovation within CE. The subject was to determine the development of the implementation of innovations in CE in today's society, as one of the latest approaches to the production, consumption and subsequent processing of waste.