Strengthening economic security through the zero waste concept in sustainable business

Abstract

Global economic security initiatives are aimed at the survival of humanity by increasing the requirements for life cycle quality, the assessment of investment projects, and their environmental efficiency. An urgent task is forming a strategy for the post-war economic development of Ukraine, focused on sustainability, environmental friendliness, deregulation, and demonopolization of industries. It is substantiated that the circular economy is a system of long-term growth of the organization's value that aims to minimize waste and maximize resource efficiency by developing products and processes that can be reused, repaired, recycled, or regenerated. It is a critical component of corporate social responsibility (CSR). It can help businesses reduce their environmental impact, save costs, improve their reputation, and create new opportunities for innovation and collaboration. Applying the cyclical economy approach is possible on condition of awareness of its global role, determination of feasibility components in modern conditions, prediction, and management of associated risks. Even in difficult times, Ukraine demonstrates growth indicators, offers enterprises the availability of energy resources, developed energy infrastructure, and programs for the use of the latest energy-saving technologies, which allows many enterprises to maintain the role of the leader of the national economy, increase the pace of economic development, and be in demand and competitive in the global economic space. The economic catastrophe caused by military aggression reduced energy consumption and increased population migration, which led to a decrease in anthropogenic impact on the environment, which, on the one hand, contributes to the transition to a circular economy, but military actions, increasing other risks, are one of the most significant factors of pollution environment, show a prolonged and long-term adverse effect. With the annual increase in production and life waste and considering the consequences of military conflicts, the need to dispose of the consequences of pollution is an urgent problem of the present and future decades. The risks and priorities of the strategic management of the enterprise's economic security by ensuring sustainable economic development and reducing the ecological burden on the environment in the current state of Ukraine's economy are considered. Economic and socio-political factors are analyzed, and the basic principles that lead to a negative impact are singled out. Awareness of the impact on the economy and society of climate change and the consequence of environmental pollution proves the need to ensure the sustainable use of natural resources, motivates the introduction of "green" technologies, renewable energy sources, and the creation of sustainable partnerships and infrastructure. In today's conditions of instability, the enterprise is offered to develop a set of strategic measures to implement the principles of sustainability and environmental friendliness, which must be followed for production and economic activity to be effective. The economic security strategy should focus on building ESG's reputation for overcoming the risks caused by military aggression and equalizing economic advantages, finding growth opportunities, and investment-oriented access to global markets with the help of "green" partners. It has been proven that ignoring the principles of sustainable development leads to significant reputational risks for organizations and the loss of opportunities for effective communications focused on sustainable development. The studies created the basis for further improvement of the methodology for assessing enterprises' economic security risks. Keywords: safe economic activity, environmentally-oriented concept, "zero waste", risk, environmental, social and management reporting (ESG), enterprise, economic security system, ecological and economic security, sustainability, reputation, ESG indicators, economic growth.