The concept of circular economy in relation to sustainable development goals

Abstract

Over the past century, economic and social progress has been accompanied by environmental degradation due to irrational consumption of resources and waste production. To address these problems, maintaining a balance between economic, social and environmental aspects, in 2015 the UN presented their new plan “Transforming Our World: The 2030 Agenda for Sustainable Development by 2030”, including its Sustainable Development Goals (SDGs). Respectively, the Circular Economy is gaining prominence as a tool that offers solutions to some of the most global challenges of sustainable development. The purpose of this research was to evaluate the primary role and functions of the circular economy in achieving sustainable development goals. The core concepts of the circular economy and sustainable development strategies were examined during the research process, and a review of the existing scientific material was conducted to investigate the relationship between the terms. Particular attention was paid to the Goal 12: Responsible consumption and production, which is most interdependent with the circular economy. The conclusion identified significant similar principles and values that emerge from the scientific articles on circular economy and sustainable development. The research results can serve as a theoretical and practical basis for achieving sustainable development goals in the areas of environmental and economic management.