Circular economy and eco-innovation indicators as imputs for EU sustainable development strategies

Abstract

The overall aim of the EU Sustainable Development Strategy was to identify and develop actions to enable the EU to achieve a continuous long-term improvement of quality of life through the creation of sustainable communities able to manage and use resources efficiently. Based on ecological and social innovations, circular economy, as an economic model that aims to keep resources in use for as long as possible by reducing waste, reusing products and materials, and recycling them at the end of their life, has substantial potential to improve policy strategies in the future. Major environmental challenges faced by many countries around the world could be mitigated with key benefits of a circular economy, helping to reduce waste and pollution. The European Union has recognized the importance of eco-innovations as a key driver of sustainable development and has implemented various policies and initiatives to implement the principles of circular economy in practice. Eco-innovation refers to the development and implementation of new technologies, products, and services that have a positive environmental impact while also contributing to economic growth. The subject of this paper is the analysis of the impact of measuring circular economy indicators on sustainable development goals for easier definition of sustainable development strategies and policies in developing countries. The goal of this work is to support the initiative of joint synergistic action of all actors based on the principle of the quintuple helix concept and to make contribution for initiating those actions at the local and regional levels.