TRANSITIONING TO A CIRCULAR ECONOMY: STRATEGIES FOR WASTE REDUCTION AND VALUE CREATION

The transition to a circular economy has emerged as an important strategy for addressing environmental challenges, improving resource efficiency, and promoting sustainable economic development. Unlike the traditional linear economic model, which follows a “take–make–dispose” approach, a circular economy seeks to maintain the value of products, materials, and resources for as long as possible. This article examines the fundamental principles of the circular economy and explores practical strategies for waste reduction and value creation across industrial, commercial, and consumer sectors. Particular attention is given to eco-design, recycling, reuse, remanufacturing, industrial symbiosis, sustainable consumption, and digital technologies. The article also analyzes the economic, environmental, and institutional barriers that may hinder the transition toward circular production and consumption patterns. It argues that successful implementation requires coordinated action by governments, businesses, research institutions, and consumers, supported by effective legislation, investment, innovation, and public awareness. The circular economy can contribute to sustainable development by reducing resource dependence, minimizing environmental pressure, creating employment opportunities, and generating new sources of economic value.