The article examines the development of the circular economy in Ukraine, as well as the prospects of implementation of the experience of leading EU countries in the field of circular economy in Ukraine. The relevance of the study is that for now in Ukraine very few steps have been taken towards a circular economy, although everyone understands its importance.
The results of the study of the concept of sustainable development and the benefits of implementing this concept in Ukraine based on the experience of the European Union are presented. It is established that the basis for the formation of the basic principles of sustainable development is the relationship of environmental, economic and social factors of human development, the solution of which is possible only on a comprehensive basis, taking into account the balance of interests of nature and society.
In today’s environment, organizations need new corporate strategies and models to protect profitability and competitiveness, as well as the heritage of natural resources. A circular economy is a model of production and consumption in which all resources and products are reused in the economic cycle, which can significantly reduce waste generation and create additional economic benefits for business. This is especially important in the context of the recovery from the economic crisis caused by the COVID-19 pandemic.
The paper presents the results of a circular economy study and the benefit of implementing this concept in Ukraine, based on the experience of the European Union, and provides recommendations from the Ellen MacArthur Foundation and the European Commission, which should be taken into account by governments in view of the critical environmental situation in the world. Possibilities of formation and development of circular business models in Ukraine on the example of the best European practices in the field of waste management are substantiated.
In the field of waste management, Ukraine is far behind the EU countries, which is, in particular, a consequence of the existing linear model of the economy, and creates significant risks for the environment and the population.