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RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

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Liburkina L. M.

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European Experience in Financing the Circular Economy and Opportunities for Its Use in Ukraine
Strapchuk S. I., Moroz S. G., Strapchuk O. D.

Strapchuk, Svitlana I., Moroz, Svitlana G., and Strapchuk, Olena D. (2024) “European Experience in Financing the Circular Economy and Opportunities for Its Use in Ukraine.” Business Inform 8:52–66.
https://doi.org/10.32983/2222-4459-2024-8-52-66

Section: Foreign Experience

Article is written in English
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UDC 336.02:[330.33.014.2:502.171](4+477)

Abstract:
The paper discusses the European experience in financing the circular economy and explores opportunities for its implementation in Ukraine. The importance of effective policy strategies and appropriate instruments at different levels and among different stakeholder groups is highlighted. The development of circular economy policy is recommended to be based on international experience, particularly the approaches used by the European Union. The European Union's active development and implementation of policies for a circular economy, aimed at optimizing resource use through material and product recovery and reuse to reduce waste and ensure production sustainability, are outlined. The challenges posed by climate change and resource use are emphasized, and the need for joint efforts and cooperation with other countries and international organizations is highlighted. The European Green Deal and various strategies, plans, and projects associated with the circular economy are presented. The financial resources needed for emission reduction measures under the European Investment Plan and the various funds designed to finance economic activities contributing to the transition to sustainable goals are detailed. Furthermore, the paper provides insights into Ukraine's regulatory documents related to the circular economy, including the Strategy for Environmental Safety and Climate Change Adaptation until 2030, the Low-Carbon Development Strategy of Ukraine until 2050, and various laws and resolutions related to waste management, environmental protection, and sustainable development goals. The importance of aligning Ukraine's environmental laws with those of the European Union is highlighted.

Keywords: European Union, financing, circular economy, policy resource, use waste, reducing the impact of climate change, European Green Deal, European Investment Plan.

Fig.: 1. Tabl.: 5. Bibl.: 40.

Strapchuk Svitlana I. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Electronic Commerce and Hotel and Restaurant Business, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Moroz Svitlana G. – Candidate of Sciences (Economics), Associate Professor, Department of Organization, Economics and Management of Pharmacy, Institute of Qualification Improvement Pharmacy Specialists for National University of Pharmacy (17 Zakhysnykiv Ukrainy Maidan, Kharkiv, 61001, Ukraine)
Email: [email protected]
Strapchuk Olena D. – Student, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

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