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IMPLEMENTATION OF THE CIRCULAR ECONOMY STRATEGIES IN DIFFERENT INDUSTRIAL PRODUCTION SECTORS

Una Libkovska, Ivo Lemss, Inta Ozola

First published: 2023-10-01https://doi.org/10.5593/sgem2023/5.1/s20.08View metrics

Abstract

The challenges of economic growth in today's economy are to create optimistic cooperation between industries and the state, local authorities and to maintain sustainability by balancing economic, environmental and social interests. The transition to a circular economy is in many cases understood only as an unnecessary barrier rather than as a new business model. Production based on a linear "take, make, dispose" model is no longer feasible on the grounds of environmental degradation. The aim of the study is to develop an adapted model for the implementation of a circular economy strategy for the long-term sustainable development of Latvian SMEs. The objective will be achieved by a detailed study of the circular economy factors influencing the development of SMEs. The stratified sampling method used in the study justifies the selection of five industrial sectors: agriculture, manufacturing, energy, water supply, wastewater and waste management and construction. These sectors are mainly associated with high consumption of various natural resources, including water, energy, raw materials and intensive waste flows (non-hazardous and hazardous waste). A stratified selection of specific enterprises was selected in all Latvian statistical planning regions. The expected outcome of the study is the development of an appropriate circular economy strategy model and criteria for SMEs in the manufacturing sector, as well as recommendations and proposals for the introduction and adaptation of ecoinnovation for successful development.

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Publication details

Title
IMPLEMENTATION OF THE CIRCULAR ECONOMY STRATEGIES IN DIFFERENT INDUSTRIAL PRODUCTION SECTORS
Authors
Una Libkovska, Ivo Lemss, Inta Ozola
Proceedings
SGEM International Multidisciplinary Scientific GeoConference- EXPO Proceedings; 23rd SGEM International Multidisciplinary Scientific GeoConference Proceedings 2023, Ecology, Economics, Education and Legislation, Vol. 23, Issue 5.1
Publisher
STEF92 Technology
Year
2023
Pages
65-72
SWS Citekey
Libkovska2023206572
ISSN
1314-2704
ISBN
978-619-7603-60-6
Language
en
Publication type
Conference Paper
Proceedings contents
Open official contents
Keywords
circular economyeco-innovationenvironmental sustainabilitystrategic managementregional development
References13

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