Circular law as a legal basis for a circular economy

Abstract

The article is devoted to the study of the legal basis for the development of the circular economy, clarifying the essence of the concept of circular law, and analysis of international and national legal acts in this area. Research has shown humanity's awareness of modern global threats and its gradual movement from the traditional to circular economic model. The legal basis for such a transition lies in circular law, which is a set of legal norms that define and regulate social relations in the field of circular economy. The article explores legal acts in the field of circular economy at the universal, regional and national levels across the globe. The main purpose of the article is to analyze the legal basis for the development of the circular economy. International law is currently being enriched with a number of new legal acts devoted to this subject matter. This may indicate the emergence of a new branch of international law - a circular law. An increased attention of international financial institutions towards financing of circular projects stipulates the further development and spread of the circular concept.