EVOLUTION OF THE CIRCULAR ECONOMY: EUROPE'S SUCCESSES AND LESSONS FOR UKRAINE

Abstract

This article explores the concept of transitioning to a circular economy as a means of addressing pressing global environmental and economic challenges posed by the traditional linear economic model. It underscores the importance of rethinking production, consumption, and waste management to promote sustainability and resilience. The article begins by formulating the problem, highlighting the detrimental effects of resource depletion, environmental degradation, and inefficiencies inherent in the "take-make-dispose" paradigm. It then outlines the objectives of a circular economy, emphasizing resource efficiency, waste reduction, and the regeneration of natural systems. The main content delves into the multifaceted benefits of circular practices at both macroeconomic and microeconomic levels. Key advantages include reduced environmental impact, increased operational efficiency for businesses, and the generation of new revenue streams through innovation in repair, refurbishment, and sustainable design. Furthermore, it discusses the role of government policies and incentives in driving the adoption of circular practices, particularly in job creation and resource resilience. However, the article does not shy away from addressing significant barriers to implementation. These include financial and technological challenges, the complexity of transitioning from linear infrastructure to circular systems, and consumer skepticism regarding the quality of recycled or reused products. To overcome these challenges, the article calls for increased awareness, regulatory harmonization, and collaborative efforts across sectors. The analysis is enriched by examples of global best practices and innovations, such as Germany's "Green Dot" system and Japan's efficient use of resources laws, which serve as benchmarks for successful circular economy adoption. It also examines international initiatives like the Ellen MacArthur Foundation’s efforts to tackle plastic waste. Despite notable successes, the article recognizes persistent challenges, such as the environmental trade-offs associated with replacing plastics and the need for further innovation. In conclusion, the article emphasizes the transformative potential of the circular economy in fostering a sustainable and equitable future. By leveraging collaboration among governments, businesses, and consumers, it argues that the transition to a circular economy is not only feasible but essential for addressing the interconnected crises of environmental degradation and economic vulnerability.