GLOBAL CONCEPTS FOR SUSTAINABLE DEVELOPMENT - GREEN, CIRCULAR AND BIOECONOMY
Keywords:
Green Economy, SDGs, Sustainable Development, Circular Economy, Bioeconomy, Environmental ProtectionAbstract
The main goals of sustainable development can be achieved by harmonizing the three key elements:
environmental protection, economic growth and social inclusion. These elements are interconnected and important
for the well-being of individuals and societies. Integrating economic, social and environmental aspects in sustainable
development, implies that the growth should be "inclusive" and "green" (UNDP/UNEP, 2012). Therefore, the green,
circular, bioeconomy together with nature-based solutions are recognized around the world as global concepts for
achieving sustainable development. According to UNEP, the green economy is recognized as a low-carbon,
resource-efficient and socially inclusive activity. The circular economy represents an "instrument" of sustainable
development goals realization and implies long-term investment in raw material and energy efficiency, together with
the reduction of harmful emissions and the replacement of fossil fuels with renewable sources and the production
and trade of sustainable products, which closes the "product - waste - product" circle (Mitrović, Radosavljević, &
Veselinov, 2017). The circular economy is based on circular business models: instead of linear system where
resources are mined, turned into products which after losing its value become a waste, the circular system extends
the life of products and raw materials reuses, giving them new life. Bioeconomy as a concept uses the potential of
biological resources for the development and commercialization of goods and services, and promote the substitution
of fossil fuel based activities with those based on biomass, whereby biotechnology and innovation represent the core
element of the process.
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