THE CIRCULAR ECONOMY – THE NEW WAY FOR SUSTAINABLE DEVELOPMENT OF EUROPEAN UNION
THE CIRCULAR ECONOMY – THE NEW WAY FOR SUSTAINABLE DEVELOPMENT OF EUROPEAN UNION

Author(s): Krasimira Dimitrova
Subject(s): Economy, Energy and Environmental Studies, Business Ethics, Green Transformation
Published by: Национално издателство за образование и наука „Аз-буки“
Keywords: linear economy; circular economy; resources; recycling; critical raw materials; material outputs; waste
Summary/Abstract: The scientific and technical development, which is characterized by increasingly dynamic rates, made it possible to harness all components of the biosphere in material production. The industrial revolution ushered in the linear economy. Raw materials and materials are used for goods that are discarded after use. The trend of excessive consumerism gives rise to serious environmental, economic, cultural, political and social problems, leads to depletion of natural resources and ecological imbalance. The traditional linear economy is based on the extraction of natural resources to produce products that end their life cycle as waste. The linear economy is still deeply rooted. In the modern reality the „take-make-consume-throw“ model must remain irreversibly in the past and be transformed into a higher degree of responsible business development, where waste is transformed into raw materials requiring responsible thinking and behaviour for sustainable management and growth. This publication presents the first stage of a scientific study of the possibilities of efficient use of natural resources, increasing the use of secondary raw materials, securing access to strategic resources and reducing the dependence on imports in the EU in the process of transition to a circular economy. A comprehensive analysis of the material resources used in the EU economy was made. This analysis will serve as a basis for further research into the possibilities for a higher degree of responsible business development, where waste is transformed into raw materials requiring responsible thinking and behaviour for sustainable management and growth.

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