The Circular Economy Model in Mitigating the Effects of Climate Change in Ukraine

Climate change and its impact on economic and social well-being is an important current issue that is being studied everywhere in the modern world. Acceleration of economic growth due to mass production, increasing the level of welfare of society and increasing the population, led to an increase in production volumes, which in turn caused a further rapid increase in waste generation and carbon dioxide emissions. Today, manufacturers around the world are faced with the need to apply such business practices that would be focused on protecting the environment by reducing environmentally harmful waste on a global scale, and consumers - understanding the importance of economical and repeated consumption, preserving biodiversity and protecting the environment on the path to sustainable development. The study substantiates that it is the circular economy that will combine two key tasks - ensuring economic development and mitigating the effects of climate change. Thanks to this economic model, which reduces environmental pollution, reduces greenhouse gas emissions, minimizes the use of resources for economic growth, due to the fact that they are constantly reused, recycled or repurposed, and not thrown away as waste, it is possible to leave a more livable world for future generations. The study found a significant correlation between the implementation of circular economy practices and the objectives of the Sustainable Development Goals, in particular in terms of minimizing CO2 emissions. A complex relationship between CO2 emissions and gross domestic product, which occupies a central place in environmental economics and climate change research, was established. At the level of individual regions of Ukraine, the feasibility of studying the relationship between carbon dioxide emissions and indicators such as gross regional product, sales volumes and population density was substantiated. It was found that almost all regions of Ukraine that demonstrate high growth rates of GRP per capita are observed in the same growth in CO2 emissions. This is consistent with the priorities of the circular economy, which is to minimize resource extraction by encouraging reuse, recycling and remanufacturing. Regions with higher population densities have been found to have lower levels of CO2 emissions, which is explained by the fact that higher population densities often lead to more compact urban environments. Higher population densities can facilitate economies of scale in infrastructure development, such as energy-efficient buildings, district heating and waste management systems.