INNOVATION MANAGEMENT IN THE CIRCULAR ECONOMY - REPUBLIC OF SERBIA AND EU

Abstract

Sustainable development requires the application of innovations and radical changes in the concept of functioning of most countries, where it is of special importance to achieve environmental sustainability. The environment is not only the environment in which people live, but also the resource base and the place where economic activities are carried out. To ensure environmental sustainability, it is necessary to reduce the consumption of renewable resources, find alternatives to nonrenewable resources and reduce waste generation and the level of ecosystem pollution. In order to achieve integration between sustainability and economic development, the concept of circular economy emerged as one of the basic concepts of the 2030 Agenda for Sustainable Development of the United Nations (2030 Agenda for Sustainable Development, UN). The circular economy represents a new approach in dealing with global problems, with a special focus on reducing resource consumption, reuse and recycling. Having in mind the importance of the concept of circular economy, the aim of this paper is to present the development and innovations in the field of this concept with special reference to the situation in the Republic of Serbia and comparison with EU member states.