Circular economy impact on global sustainable growth in international industrial business
Abstract
The increasing environmental threats and limited natural resources have led to a growing focus on sustainable development as a long-term strategy to maintain economic and environmental balance. This study aims to analyze the implementation of circular economy principles in industrial processes, which can improve resource use efficiency and minimize waste and environmental impact. The research method involves reviewing recent scientific articles on the circular economy and analyzing statistical data on industrial businesses that utilize environmental technologies. The study identifies key elements that facilitate the transition to circular production models and highlights the challenges that need to be overcome to achieve sustainable industrial development. The study also aims to identify the obstacles and challenges enterprises face in transitioning to circular production models. The objectives of the study include analysing theoretical approaches to the circular economy and its basic principles, assessing the economic and environmental impact of circular practices on industrial production, and identifying the main challenges industrial enterprises face in implementing circular models.
The study's findings provide valuable insights for governmental initiatives and businesses seeking to integrate circular concepts into their manufacturing practices. The proposed recommendations for improving the efficiency of implementing circular models can be used by industrial enterprises to optimize their production processes. Implementing circular models not only contributes to the economic growth of international enterprises but also improves the environmental situation, positively impacting society as a whole. It helps preserve natural resources for future generations and reduces the industry's impact on climate change.
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