CIRKULARNA EKONOMIJA U FUNKCIJI ZAŠTITE ŽIVOTNE SREDINE I ODRŽIVOSTI PRIVREDNOG RAZVOJA
CIRCULAR ECONOMY IN THE FUNCTION OF ENVIRONMENTAL PROTECTION AND SUSTAINABILITY OF ECONOMIC DEVELOPMENT

Summary/Abstract: Climate change is one of the most significant reasons for the accelerated development of the circular economy as an economic model that can help mitigate climate change. The main goal of our paper is to present the circular economy as a new economic model through its specificities. Additionally, we aim to illustrate the functioning of the circular economy in the context of environmental protection and sustainable economic development through individual examples from companies around the world and in the People's Republic of China. We will also discuss the state of circular economy development in Bosnia and Herzegovina. The benefits of the circular economy include creating favorable conditions for job creation, energy savings, conservation of existing resources, reducing the risk of greenhouse gas emissions, lowering the need for imports, and promoting agriculture without pesticide use, among other advantages we are currently unable to present in this paper. The circular economy is often described as a mandatory economy rather than a voluntary choice of economic entities and citizens, primarily aimed at generating higher profits and more favorable procurement of products and services as motives for economic operations. Compared to the linear economy, the circular economy creates long-term preconditions for faster regeneration of nature and raw material resources.

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