CIRCULAR ECONOMY – BARRIERS AND CHALLENGES

Abstract

The circular economy (CE) today has a growing importance for businesses, consumers and the environment in general. The CE is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended. Namely, moving towards a more circular economy could deliver benefits such as reducing pressure on the environment, improving the security of the supply of raw materials, increasing competitiveness, stimulating innovation, boosting economic growth and creating jobs. Consumers will also be provided with more durable and innovative products that will increase the quality of life and save them money in the long term.
The main purpose of the paper is to examine the awareness for CE concept and the need for applying CE principles in a way to ensure a better environment and life quality. To achieve the aim, a survey was conducted and conclusions and recommendations will be presented based on data processing.