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Circular Economy in the Context of Transformational Change: Digitalization, Globalization, Innovation
Zablotska R. O., Rusak D. M.

Zablotska, Rita O., and Rusak, Denys M. (2024) “Circular Economy in the Context of Transformational Change: Digitalization, Globalization, Innovation.” Business Inform 8:113–120.
https://doi.org/10.32983/2222-4459-2024-8-113-120

Section: Ecology and Environmental Management

Article is written in Ukrainian
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UDC 330.33

Abstract:
The presented work considers the main features of the modern circular economy, also identifies the main aspects of transformational changes and characterizes the main components of the impact on the development of the modern circular economy in the form of digitalization, globalization and innovation. It is noted that traditional models of economic development are becoming less and less effective in solving global challenges, such as the depletion of natural resources, the growth of waste and climate change. Under these conditions, the conception of a circular economy based on the principles of closed cycles of production and consumption is becoming increasingly important. The circular economy aims to maximize the conservation of the value of resources, their reuse, reduce waste and decrease the environmental burden. The main aim of the presented article is to determine the features of the formation of the circular economy in the context of transformational changes, taking into account digitalization, globalization and innovation. The methods used in the study: synthesis, deduction, comparison, logical method, method of analysis, induction, observation, generalization method, tabular and graphical methods allowed for substantiating the main results of the study and presenting them in the visual form. It is substantiated that such transformational processes as digitalization, globalization and innovation play a key role in maintaining and further developing the circular economy. Digitalization provides new tools for monitoring and managing resources, enabling more efficient and sustainable business models. Globalization promotes the spread of best practices and technologies, which stimulates international cooperation in the field of circular economy. Innovation, in turn, is a driving force that opens up new opportunities for the development of materials, technologies and processes, allowing for more efficient use of resources and reduction of environmental impact. Thus, the circular economy in the context of transformational changes is becoming not only a response to modern challenges, but also a promising direction for ensuring sustainable development. Its implementation requires an integrated approach that combines technological, economic and social aspects to create conditions for the harmonious coexistence of economic growth and environmental protection.

Keywords: circular economy, sustainable development, green economy, finance, green transition, financial instruments, circular business models, global value chains, regulation, digitalization, transformational change, globalization.

Fig.: 2. Tabl.: 2. Bibl.: 21.

Zablotska Rita O. – Doctor of Sciences (Economics), Professor, Professor, Department of World Economy and International Economic Relations, Educational and Scientific Institute of International Relations Taras Shevchenko National University of Kyiv (36/1 Yuriia Illienka Str., Kyiv, 04119, Ukraine)
Email: [email protected]
Rusak Denys M. – Doctor of Sciences (Economics), Professor, Professor, Department of World Economy and International Economic Relations, Educational and Scientific Institute of International Relations Taras Shevchenko National University of Kyiv (36/1 Yuriia Illienka Str., Kyiv, 04119, Ukraine)
Email: [email protected]

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