Achievement of Sustainable Development Goals through the Implementation of Circular Economy and Developing Regional Cooperation

Natālija Cudečka-Puriņa, Dzintra Atstāja, Viktor Koval, Māris Purviņš, Pavlo Nesenenko and Oleksandr Tkach
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Natālija Cudečka-Puriņa: Department of Management, BA School of Business and Finance, LV-1013 Riga, Latvia
Dzintra Atstāja: Department of Management, BA School of Business and Finance, LV-1013 Riga, Latvia
Viktor Koval: Institute of Market and Economic-Ecological Researches of the National Academy of Sciences of Ukraine, 65000 Odesa, Ukraine
Māris Purviņš: Department of Management, BA School of Business and Finance, LV-1013 Riga, Latvia
Pavlo Nesenenko: Odesa National Economic University, 65000 Odesa, Ukraine
Oleksandr Tkach: Institute of Market and Economic-Ecological Researches of the National Academy of Sciences of Ukraine, 65000 Odesa, Ukraine

Energies, 2022, vol. 15, issue 11, 1-18

Abstract: Circular economy is a tool based on the inclusion of environmental, social, and governance performance (ESG) in decision-making to achieve sustainable development goals (SDG). In recent years, it has become clear that business-as-usual has nothing to do with sustainability, and alternative business models, primarily on technological grounds, must be implemented to mitigate the damage caused by significant and unpredictable effects of climate change. The current situation requires unprecedented and urgent changes to policies and business development models. The current research aimed to target on industrial symbiosis as one of the business models of the circular economy. It evaluated the benefits of symbiosis and the fostering of cooperation between industries and, consequently, has a major impact on resource efficiency ratios. The research is based on quantitative and qualitative research methods, including a literature review, assessment, and application of the triangulation method. As a result of this research, the authors realized a matrix for the development of regional or cross-country industrial symbiosis that can be used by policymakers to foster the development of symbiotic interconnections on a wide scale. The authors also recommend the development of the Baltic University Program (BUP) network center of excellence and methodological justification for industries to engage in industrial symbiosis (IS).

Keywords: circular economy; European green deal; industrial symbiosis; sustainability; transformation (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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