CIRCULAR ECONOMY INNOVATIONS AS A FACTOR FOR ENSURING SUSTAINABLE DEVELOPMENT AND COMPETITIVENESS OF THE NATIONAL ECONOMY

Abstract

The article examines the theoretical and applied foundations of the influence of circular economy innovations on ensuring sustainable development and increasing the competitiveness of the national economy in the conditions of modern global transformations. It is substantiated that the transition to a closed-cycle economy is one of the key areas of structural modernization of the economy, strengthening resource security, increasing the efficiency of natural resource use, and implementing strategic goals of sustainable development. The essence of innovations of the circular economy as a complex mechanism of technological, organizational, management and investment changes aimed at the formation of a new model of economic development is determined. The conceptual principles of the circular economy, the 10R principles, and the role of innovation and investment support in implementing circular business models are considered. Attention is focused on the relationship between resource recycling, energy efficiency, digitalization, cleaner production, and long-term competitiveness. The author's mechanism of influence of circular economy innovations on the competitiveness of the national economy is proposed, which reflects the sequence of transformation of innovation and investment support into technological modernization, increasing economic efficiency, investment attractiveness and ensuring sustainable development. The current trends in the development of the circular economy in the countries of the European Union were analyzed, and a comparison was made of key indicators of resource productivity, material footprint, generation of resource consumption waste. It has been established that circular innovations form a synergistic effect, which manifests itself in strengthening resource independence, increasing economic stability, intensifying innovative activity and increasing the investment attractiveness of the state. It has been proven that the implementation of the principles of the European Green Deal, the development of digital technologies and innovation and investment mechanisms are a necessary prerequisite for the formation of a competitive, resource-efficient and sustainable national economy.