Abstract
The paper aims to highlight the status of the circular economy implementation in the EU and Ukraine, as well as to determine the advantages, challenges, opportunities and barriers to transition to circular supply chains. The main problems of waste management in Ukraine are explored, including faulty legislation, underinvestment, state policies and enlightenment regarding the circular economy, formal approach to the implementation of programs and strategies that should improve economic conditions, dominance of most waste-generative – extractive – industries in the economic structure of Ukraine. It is found out that the legislative framework for circular- and bio-economics in Ukraine does not meet the global challenges and requirements of the Association Agreement between Ukraine and the EU and needs urgent improvement measures. Studying the EU experience allowed describing the advantages and challenges of a circular economy that emerge in Ukraine. The article presents a mathematical model aimed at describing the peculiarities of a circular economy in the countries with low and high levels of industrial ecologization as well as understanding conditions for resource conservation during production processes. An econometrical model of the correlation between the solid waste generation, GDP and capital investment into environmental protection in Ukraine is used to demonstrate the absence of the latter’s influence on the waste generation at the current technological level of the national industries. The research results allow developing recommendations for state policy for the industrial sector and environmental protection that may be implemented at the current stage to achieve Sustainable Development Goals 2030.
Highlights
Understanding that industrial development is one of the key factors for achieving prosperity and welfare has become universal relatively lately
Modernizing the industrial sector in such a way that it allows shifting to a circular economy can be considered one of the main modern challenges, as it requires new business models, new economic ties and value chains
Balancing the circular economy: cessing plant in the country has ceased to operate, as had the four incineration plants, of which only the Kyiv-based Energy plant operatconditions for different economies ed until August of 2018
Summary
Understanding that industrial development is one of the key factors for achieving prosperity and welfare has become universal relatively lately. The concept of a “circular economy” appeared as a response to increased consumption and the resulting accumulation of waste that is either environmentally harmful or hard to recycle in a reasonable time span. Circular economy represents such an economic model that associates itself with the “green development” and ensures the transition from the mass consumption to the responsible consumption. Consumption occurs only in biological cycles, where food products and biological materials are adapted to returning to the system through natural processes These cycles regenerate living systems that, in turn, provide renewable resources for economy. Achieving the Sustainable Development Goals 8 “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all”, 9 “Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation”, “Make cities and human settlements inclusive, safe, resilient and sustainable”, and “Ensure sustainable consumption and production patterns” calls for enacting the principles of circular economy into the state’s business system
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