DEVELOPMENT OF THE CIRCULAR ECONOMY IN THE EU: TRENDS, CHALLENGES, AND PROSPECTS

Abstract

Introduction. This article explores the development of the circular economy in the European Union as part of the broader "green" transformation of the economy. The focus is on the stages of development of the circular economy in EU countries, the tools and regulations used to promote its growth, the results achieved so far, and the goals for the future. The article examines how circular economy practices have evolved within the EU and what lessons can be drawn for other countries, including Ukraine, especially in the context of European integration. Purpose. The purpose of this research is to analyze the key phases of the circular economy’s development in the EU, identify the regulatory and institutional instruments that have supported its growth, evaluate the progress made, and outline future objectives. The study also aims to make conclusions about the European experience that could be beneficial for Ukraine as it moves toward European integration and strives to implement EU standards. Methods. The study uses a combination of qualitative and quantitative methods, including the review of EU policy documents, official reports, case studies, and academic publications. A comparative approach is used to analyze the implementation of circular economy practices in various EU member states, focusing on regulatory frameworks, financial instruments, and strategic actions. Results. The article identifies the key phases in the EU’s transition to a circular economy, from early regulatory efforts to the establishment of comprehensive frameworks such as the European Green Deal and the Circular Economy Action Plan. Several successful initiatives, such as the adoption of eco-design principles and waste management improvements, have significantly contributed to reducing resource consumption and waste generation. However, the study also highlights ongoing challenges, including regulatory fragmentation and the need for increased investment in circular technologies. The article outlines the EU’s future goals for further advancing circular economy practices, including enhancing digital solutions and fostering cross-sectoral cooperation. Conclusion. The study concludes that the EU’s experience with circular economy development provides valuable lessons for Ukraine’s future integration into the European Union. The key recommendations for Ukraine include adopting similar regulatory frameworks, investing in green technologies, and improving public and private sector collaboration. By following the EU’s approach, Ukraine can align itself with European environmental standards and contribute to a more sustainable future.