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Towards Sustainable Development: A Multi-Criteria Assessment of the Circular Economy in the European Union

Towards Sustainable Development: A Multi-Criteria Assessment of the Circular Economy in the European Union
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Author(s): Milan Marković (Innovation Center, University of Niš, Serbia)
Copyright: 2023
Pages: 23
Source title: Handbook of Research on Bioeconomy and Economic Ecosystems
Source Author(s)/Editor(s): Ana Pego (Universidade Nova de Lisboa, Portugal)
DOI: 10.4018/978-1-6684-8879-9.ch017

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Abstract

In a sustainable society, which countries strive for, a special place belongs to the circular economy. The circular economy offers certain solutions that tend to make development more sustainable by increasing resource productivity and reducing waste. The European Union is a leader in the world in implementing the principles and practices of regenerative economy and circularity. The chapter aims at a multi-criteria analysis of circular economy performance by ranking the countries of the European Union, taking into account the created composite index. Aggregation was performed using the grey relational analysis method, while the weight coefficients were determined using the entropy method. The results of the research show that the countries of Western Europe are the most successful in achieving the goals of the circular economy on the way to sustainable development, and that the Netherlands ranks first among them.

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