The Circular Economy in the Context of the Green Economy and Sustainable Development: A Theoretical Approach

The circular economy has the potential to generate new resources, to create new opportunities and sustainable business models. In a society where we are constantly searching for new sources of self-sustaining economic growth, the current paper illustrates that the circular economy can be the answer. Identifying sustainable solutions for optimizing resource consumption for closing loops is an important goal at European level. Capitalizing on products and secondary resources are vital aspects for the circular economy to take place in optimal parameters. In this regard, the development of this new market has an important role in the practical implementation of resource efficiency. In the first part, the author presents a current overview of sustainable development whereas the second part underlines the concept of circular economy, its main implications and its urgent necessity. In the last part of the paper, the author underlines the main directions in which the sustainable development should be approached such as sustainable production and consumption models, development of new skills etc. emphasizing on the circular economy.