Implementation of the Concept of Circular Economy as an Integral Component of Sustainable Development of the Region: Problems and Prospects

Abstract

Depleting natural resources, climate change, and pollution of the environment are the processes that make it necessary to implement the concept of a circular economy in every country. The article's purpose is to research the concept of "circular economy" but also to identify problems on the way to its implementation and search for prospects for its performance. The research was conducted based on statistical data from the Black Sea region. The following research methods were used: the method of analyzing statistical data, the method of analyzing scientific sources, the method of information search, the method of analytical review etc. The article examines the experience of developed countries in implementing the concept of circular economy in such countries, as well as the works of Ukrainian authors devoted to this topic. As a result of the analysis of the Decisions of the Regional Councils of the Black Sea Region found that the regulatory documents do not pay enough attention to the development and functioning of the regional industrial waste management system. An analysis of statistical data of the Black Sea region was made. Based on the analysis results, it was found that despite the high level of environmental pollution in the area by industrial enterprises, the volume of capital investments directed at protecting the natural environment is insufficient. Prospects for implementing circular economy principles in the Black Sea region are considered. The results of the research are of practical significance.