The global economy generates about 35 billion tons of consumer waste each year, of which only up to 10% is recycled. Despite the growing number of countries and companies setting ambitious goals for the transition to a circular economy and introducing various restrictions and prohibitions, the share of resources being recycled has decreased over the past 5 years.
The circular economy is one of the key instruments of decarbonisation, accounting for up to 50% of the GHG emission reduction potential, both by reducing the share of primary raw materials required to produce the final product and by reducing the amount of waste sent to landfills. Modern, innovative materials and solutions that conserve resources and increase the service life of products, also make a significant contribution. The sharing economy, which requires mature regulation and a high level of public awareness, also plays a major role in the development of circular economy instruments.
The implementation of circular economy principles is also a necessary component for the implementation of a number of UN SDGs, namely goals 9, 11, 12, 13, 14, 15, 17.
The circular economy is gradually becoming one of the central topics of the Conference of the Parties to the UN Framework Convention on Climate Change, so it is very important to build a dialogue to form global regulation that will facilitate the acceleration of the development of the circular economy. The basis for the development of the circular economy is innovation, the development of which requires the formation of an effective framework for interaction between the government, business, non-profit organizations, science and financial institutions.
