CIRCULAR ECONOMY IN THE CONTEXT OF THE FORMATION OF SOCIETY 5.0

Abstract

The article is devoted to the study of the essence of the circular economy in the context of the formation of Society 5 and the implementation of the Sustainable Development Goals, as well as to the peculiarities of implementing the basic principles of the circular economy in agriculture. The research methodology is based on both general scientific and special research methods, namely: logical generalization, systematic, induction, deduction, analysis, synthesis, etc. The study found that the achievement of the Sustainable Development Goals is linked to the concept of the circular economy, the essence and mechanism of which require further research. It is proved that the circular economy is a modern concept that meets the Sustainable Development Goals, is a counterweight to the linear model of the economy and is based on a system of economically, environmentally and socially responsible approaches to the use of limited resources. Its implementation necessitates the transformation of business models and appropriate government regulation. It is substantiated that the practical implementation of the principles of the circular economy model requires not only technological changes, but also institutional transformation and public perception of the circular economy philosophy. It is noted that the introduction of the theoretical model of the circular economy into economic practice is based on different approaches in industry and agriculture. The basic approaches to the implementation of the circular economy model in agriculture are presented. Achieving the Sustainable Development Goals in agriculture is directly related to the implementation of the principles of the circular economy. The objective prerequisites for the implementation of the circular economy principles are the development of a mechanism for state regulation, financial support for targeted investments, and the introduction of a system of permanent educational activities to disseminate and exchange knowledge on the basics of the circular economy and to form a conscious attitude to the use of resources at all levels - from production to consumption. Promising areas for further research are the development of methodological recommendations for the formation and implementation of sectoral circular business models in agriculture, scientific substantiation and development of methodological support for agricultural consulting structures (including advisory services) in order to inform clients about the nature and basic principles of the circular economy in the agricultural sector.