THE CIRCULAR ECONOMY MODEL – GOOD PRACTICES FOR SUSTAINABLE DEVELOPMENT OF COMPANIES/BUSINESSES/ IN BULGARIA

Abstract

The increasing number of world's population, which mainly affects developing countries, the rising urbanization of such areas, accompanied by the increase in the standard of living of the growing middle class leads to an increase in consumption and generation of more waste. Businesses face risks related to shortage of raw materials, large fluctuations in resource prices, unpredictable market fluctuations, dependence on critical materials. The crisis of sustainable development has its roots in the applied inappropriate industrial model. A focus on efficiency alone – reducing the resources and fossil energy used per unit of production output – will not change the ultimate nature of their stocks, but can only delay the inevitable. A change of the entire operating system is required. The circular economy represents an innovative development paradigm, offering cutting-edge models for production, distribution, consumption and recovery which enhance ecosystem preservation and increase human well-being. The purpose of this report is to outline the theoretical foundations of the circular economy and to reveal the possibilities for its development in our country by presenting specific good company practices in this area